From December 10th to 11th, the 2022 Annual Conference of China Chamber of International Commerce (“CCOIC”) on Trade Finance was held online. It was  co-hosted by CCOIC and the China Council for the Promotion of International Trade (“CCPIT”) Training Center, and supported by China International Economic and Trade Arbitration Commission (“CIETAC”), Industrial Bank Co., Ltd (CIB), and the national committees of the International Chamber of Commerce (ICC) of the United Arab Emirates and Austria.

Yu Jianlong, Vice President of CCPIT and Executive Vice President of CCOIC, and Zhang Min, Party Committee Member of CIB, delivered video remarks. Wang Xiao, Executive Chairman of the Banking Committee of the ICC China and General Manager of the Transaction Banking Department of Bank of China, was present  online and delivered a speech. Lu Zhengwei, Chief Economist of CIB, Liu Bin, Director of Current Account Management Department of the State Administration of Foreign Exchange, Zhang Yi, Deputy Director of the Regulation Division of the Anti-Money Laundering Bureau of the People's Bank of China, Chu Beiping, Vice President of Dalian Maritime University and Dean of the Law School, and Gu Yan, Vice President of the CIETAC, delivered keynote speeches. Zhang Yi, Deputy Secretary General of the CCOIC, presided over the opening ceremony.

Vice President Yu Jianlong said in his speech that building a strong trade country is an inevitable requirement for the comprehensive construction of a modern socialist country, and is of great and far-reaching significance. In order to thoroughly implement the spirit of the 20th National Congress of the Communist Party of China, improve the quality of trade financial services and boost the steady development of global trade and economy, CCPIT and CCOIC will join hands with the Chinese business circles to deeply participate in the formulation of international rules, accelerate the digital development of trade and strengthen the training of trade finance talents.

Vice President Gu Yan gave a speech on "Effective Resolution of Trade Finance Disputes by Arbitration". He said that according to the number of cases and the amount of disputes received by the National Arbitration Commission in 2021, as well as the financial cases received by CIETAC in recent years, financial disputes exhibit a striking trait of internationalization and are characterized by high professionalism, large amount of subject and wide coverage. The basic attributes of arbitration, such as professionalism, independence, efficiency, confidentiality and enforceability, have unique advantages for the resolution of international trade financial disputes. CIETAC has rich experience in resolving financial disputes. In addition to the internationally advanced Arbitration Rules and Financial Rules, the high enforcement rate of awards, and the advanced institutional facilities and services, CIETAC has also made efforts to select and appoint additional arbitrators this year. It appoints a total of 1,897 arbitrators, more than 600 of which are engaged in and specialized in financial disputes. A significant number of these arbitrators have a deep understanding and knowledge of the laws and regulations, industry management and cutting-edge developments in the field of international trade and finance. The team of arbitrators is more significantly international, authoritative, professional and covers a wider range of fields, which provides a guarantee for the resolution of complex international financial disputes. He also compared the differences between arbitration and litigation, analyzed a number of international trade and finance related cases, and made suggestions on how to choose a suitable arbitration institution and sign an arbitration agreement.

With the theme of "Improving the quality of financial services and enhancing global economic and trade development", the conference focused on 18 topics, including the global economic outlook for 2023, issues relating to the letter of credit in the new era, and the latest progress of rules and practices on domestic and international trade digitalization. More than 50 experts from the ICC, the Foreign Affairs Bureau, the People's Bank of China, domestic and foreign banks, universities, arbitration institutions, enterprises and law firms attended and spoke at the conference. About 4,000 people attended the conference online.