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International commercial dispute resolution center opens in China’s Hainan

The center remotely handled seven cases involving enterprises wholly owned by foreign companies on its first day of operation

HAIKOU /China/, June 21. /TASS/. An international center for resolving commercial disputes has opened in the free trade port of the southern Chinese province of Hainan, Hainan Daily reported.

The center operates on the basis of the Intermediate People's Court of Hainan Province. According to the newspaper, this structure will strengthen the international mechanism of settlement of commercial disputes for different countries and regions of the world.

On its first day of operation, the center remotely handled seven cases involving enterprises that are wholly owned by foreign companies. A preliminary mediation agreement was reached.

The center can provide services both online and offline. A unified information platform has been created for remote work, which allows to make inquiries on credit reports of commercial organizations, to prevent disputes in advance, to reduce risks in commercial activities, as well as to conduct litigation, arbitration, mediation and audit.

The establishment of this center brings Hainan Province closer to creating a diversified international commercial dispute resolution mechanism. It also aims to strengthen the rule of law and promote the establishment of an international business environment in Hainan Free Trade Port.

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