On May 14, Huo Jianping, Chairman of the partner meeting of Bohanyuan Law Firm and the vice chairman of Shandong Lawyers Association，said in an interview with the reporter of FM105.8 Jinan News Broadcasting that it is recommended to establish a court of international arbitration to show a new business card for foreign exchange.
Arbitration is a way to settle international civil and commercial disputes. Though there are many arbitration institutions in China, few of them have a high level of arbitration. Our city should seize the opportunity to lead in establishing a high-level International Court of Arbitration. Firstly, the superimposition of the three national strategies is a hard-won opportunity period. In particular, after the establishment of the Free Trade Zone (FTZ), more enterprises will enter the FTZ which will also witness increasing international trade as well as disputes. Secondly, there are 18 FTZs in China, but none of them has established an arbitration institution focusing on FTZ businesses. Our city’s leadership in preparing for the building of such an institution will help us gain first-mover advantages and facilitate market expansion. Thirdly, the rule of law is the best business environment. The International Court of Arbitration can improve the business environment, make up for the international defects of our city, and help our city strive to become a central city of China. Fourthly, the new International Arbitration Court can be established first on a trial basis to usher in reform in the arbitration industry, institute big moves in systems and mechanisms, and form the pattern of differentiated competition with the Jinan Arbitration Commission and the Shandong Branch of China International Economic and Trade Arbitration Commission. Fifthly, the establishment of the arbitration institution will greatly boost the development of the city and even the progress of the legal service industry in the whole province. It will bring people and capital flow to the city and drive the long-term increase in economic benefits. Sixthly, it will enhance Jinan’s international reputation and probably will become a business card for Jinan’s international contact.
