Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BEIJING, June 6 (Xinhua) — China’s international influence in maritime arbitration continues to grow steadily, with a marked increase in the number of cases involving other countries and regions and a growing degree of internationalization, said Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT).
Ren Hongbin, also head of the China Maritime Arbitration Commission (CMAC), made the remarks during a high-level dialogue on maritime and commercial arbitration held in Beijing on Friday.
In 2024, CMAC ranked among the world’s leading maritime arbitration institutions in terms of caseload. According to Ren Hongbin, the number of disputes it handled involving other countries and regions increased by 55 percent compared with 2023, accounting for 39 percent of its total cases, with disputes covering 40 countries and regions.
There are currently 284 arbitration institutions in China, which have handled more than 5 million cases with a total value of over 9 trillion yuan (about 1.25 trillion US dollars) involving parties from more than 100 countries and regions.
Looking to the future, Ren Hongbin called for the development of arbitration services based on innovation and urged arbitration institutions to actively explore the application of scientific and technological methods such as digital technology and artificial intelligence.
According to him, the use of information technology will reduce costs and increase efficiency and transparency, which will contribute to the continuous increase in the authority and competitiveness of arbitration services in the global arena. –0–