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Jingzhou Tao
From: Choice of Venue in International Arbitration
Edited By: Michael Ostrove, Claudia Salomon, Bette Shifman
This chapter evaluates the merits of China as a venue for international arbitration proceedings. It discusses the history and development of arbitration in China; the processes and rules involved as well as the role of courts in the conduct of arbitration proceedings; and rules for arbitral awards. It concludes for foreign investors, arbitration is a better choice than litigation to resolve disputes. Choosing a Chinese arbitration commission instead of the People's Court not only provides the common advantages of arbitration, but also better shields the foreign party from the strong local protectionism in the local judiciary and from the professional incompetence of some judges. More importantly, arbitral awards rendered by arbitration institutions in China are more easily recognized and enforced in other countries than judgments issued by Chinese courts, as China is a signatory to the New York Convention, but has not yet entered into to judgment recognition and enforcement treaties with most of the major world economies.