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Hainan offers arbitration services aligned with international standards — Hainan Ribao

The system is unprecedented across other regions of China, the newspaper noted

HAIKOU /China/, July 23. /TASS/. The southern Chinese province of Hainan is offering arbitration services to businesses in accordance with widely recognized international standards, Hainan Ribao newspaper reported.

The publication recalled that the provisions governing the development of commercial arbitration within the Hainan Free Trade Port came into effect on July 1, 2024. Thanks to this legal framework, companies registered on the island can resolve disputes with foreign enterprises while retaining the right to select and agree upon arbitrators.

According to the newspaper, the system establishing interim arbitration rules in the Free Trade Port is unprecedented across other regions of China. It represents an innovative legal mechanism aimed at fostering a business-friendly legal environment.

Liu Daojun, head of the Hainan Provincial Arbitration Association (HPAA), stated that interim arbitration enables parties to effectively bypass obstacles stemming from differences in judicial and civil-commercial legal systems between various countries. Compared to institutional arbitration mechanisms, it offers such advantages as procedural convenience, lower costs, and greater flexibility.

Liu emphasized that the HPAA has already announced the first group of 40 interim arbitrators and has trained 70 arbitration secretaries. “This will meet the current needs of the Hainan Free Trade Port,” he stressed.

The association’s head added that in the future, Hainan will be able to adjudicate international disputes in areas such as commercial space exploration, intellectual property, and medicine. At the same time, qualified arbitrators will be recruited from around the world.

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