Regulations on Promoting Construction of International Commercial Arbitration Center in Shanghai Amended
ISSUING AUTHORITY:
Shanghai Municipal People's Congress
DATE OF ISSUANCE:
November 23, 2023
EFFECTIVE DATE:
December 1, 2023
On November 23, 2023, the Regulations of Shanghai Municipality on Promoting Construction of International Commercial Arbitration Center (the “Regulations”) were published on the website of the Shanghai Municipal People's Congress, which has become effective as of December 1, 2023.
The Regulations specify that Shanghai will make every effort to become a globally oriented Asia-Pacific arbitration center, summarize the achievements of Shanghai arbitration institution reformation in recent years, and set forth that an arbitration body shall be a nonprofit legal person having discretion in decision-making and management of finance, staffing, funds, renumeration and the like. Pursuant to the Regulations, an arbitration body is encouraged to make full use of emerging information technologies such as big data, cloud computing, blockchain, artificial intelligence to strengthen development of smart arbitration and green arbitration, and provide high-quality, high-efficiency and convenient commercial dispute resolution services. The Regulations also introduce “temporary arbitration” in certain foreign-related areas, allow parties to arbitration proceedings to select and determine arbitrators in compliance with the Arbitration Law out of the panel of arbitrators of an arbitration body, and also set out the provisions on disclosure of conflict of interest of arbitrators, the court’s support for arbitration-related investigation and evidence collection, publication of arbitration-related data and summaries of arbitral awards.
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