The Shanghai International Arbitration Centre (SHIAC) has set a record for accepting 240 foreign-related cases in the first three quarters of this year, involving 50 countries and regions.
Han Gang, the deputy secretary-general of the SHIAC, revealed the news during W&H Law Firm’s Hong Kong office opening ceremony.
During the 36 years since the arbitration centre’s establishment, it had issued 26,000 arbitral awards, Han said. Of these arbitral awards, around 3,000 involve foreign parties and Hong Kong cases From 1 January to 30 September this year, the SHIAC handled 131 Hong Kong-related cases, involving RMB8.8 billion (USD1.2 billion).
“Hong Kong serves as mainland China’s window to understand international operational rules and it is an international legal service centre. Under these conditions, the city became an ideal platform for PRC law firms and arbitration institutions to provide international legal and arbitration services to clients around the world,” Han said.
He believes that the SHIAC will have a support role for PRC companies in their bid for global expansion.
SHIAC opens Hong Kong centre to spark global push
The 36-year-old Shanghai International Arbitration Centre (SHIAC) officially inaugurated its first offshore branch in Hong Kong on 5 May
