BEIJING, April 27 (Xinhua) -- A draft revision to China's Law on Arbitration, which aims to curb fraudulent arbitration and strengthen international cooperation, was submitted for a second reading Sunday.
The bill was submitted to the ongoing session of the Standing Committee of the National People's Congress (NPC) after the first reading in November 2024.
The draft proposes stricter oversight of arbitration practices, requiring tribunals to reject arbitration claims by parties if they are found to have fabricated evidence or colluded maliciously in an attempt to harm national interests, public interests, or the legitimate rights and interests of others through arbitration.
It also aims to further improve foreign-related arbitration system and actively align with international common rules to enhance the credibility and international competitiveness of arbitration.
Key revisions include provisions to bolster exchanges and cooperation between Chinese arbitration agencies and overseas arbitration institutions and relevant international organizations, as well as participation in the formulation of international arbitration rules.
Additionally, the draft added stipulations for recognizing and enforcing foreign arbitration awards in China. Applications for recognition and enforcement of foreign arbitration awards can be filed with intermediate people's courts in places where people subject to enforcement reside or their property is located, or at a place which has appropriate connection with the dispute adjudicated. Courts shall handle such cases in accordance with relevant international treaties, or the principle of reciprocity. Enditem
京公網安備 11010802027341號