China establishes 282 arbitration institutions resolving 5 million cases worth 8 trillion yuan, revising arbitration law to align with international standards.

China is enhancing its arbitration system, having established 282 institutions that resolved over 5 million cases valued at over 8 trillion yuan (around 1.13 trillion USD) involving parties from 100+ countries. The country is revising its arbitration law to align with international standards and improve foreign-related arbitration. In 2023, eight pilot arbitration centers handled 79,000 cases worth 600 billion yuan. Efforts will focus on credibility through better oversight and operational mechanisms.

September 06, 2024
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