International commercial arbitration is a hot topic in China looking at the make-up of the audience attending a recent White & Case/CIETAC co-hosted seminar entitled "International Commercial Arbitration and Investment Dispute Resolution" held at the Ritz-Carlton Hotel in Beijing on February 23, 2012.
The overall purpose of the seminar was to share with Chinese professionals observations on the uses of arbitration. The subject matter resonated with more than 100 people in attendance, including in-house legal counsel from major Chinese and international corporations, banks and financial institutions, government officials from the Ministry of Commerce and China Banking Regulatory Commission, and law professors from a number of prominent Chinese universities.
CIETAC (the China International Economic and Trade Arbitration Commission) was represented by Jianlong Yu, Vice Chairman and Secretary General of CIETAC, who introduced the new CIETAC Arbitration Rules which are due to come into effect on May 1, 2012.
White & Case was represented by partners from its New York, Beijing and Singapore offices. The presentations included an address by Paul Friedland, White & Case’s global head of international arbitration, who introduced the IBA (International Bar Association) Guidelines for Drafting International Arbitration Clauses (the guidelines were compiled by the IBA Task Force which is chaired by Mr Friedland). His presentation also covered the choices which contracting parties have in choosing among arbitral institutions, and how to control costs in international arbitration.
Aloke Ray who is White & Case's Asia head of international arbitration, based in Singapore, presented a paper on Bilateral Investment Treaties and State Immunity.
White & Case's Beijing-based head of China practice, Xiaoming Li, presided over the event.
The China International Economic and Trade Arbitration Commission (CIETAC) is one of the major permanent arbitration institutions in the world. Formerly known as the Foreign Trade Arbitration Commission, the CIETAC was set up in April 1956 under the China Council for the Promotion of International Trade (CCPIT). To meet the needs of China's ever-developing economic and trade relations with foreign countries after the adoption of the "reform and opening-up" policy, the Foreign Trade Arbitration Commission was firstly renamed as the Foreign Economic and Trade Arbitration Commission in 1980, and then as the China International Economic and Trade Arbitration Commission in 1988. Since 2000, the CIETAC is also known as the Arbitration Court of the China Chamber of International Commerce (CCOIC).
The CIETAC independently and impartially resolves economic and trade disputes by means of arbitration.
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