On September 13, China International Economic and Trade Arbitration Commission (CIETAC) held a press conference in Beijing. Wang Chengjie, Vice Chairman and Secretary-General of CIETAC, released China International Commercial Arbitration Annual Report (2020-2021) (Report). The Report is the seventh annual report of CIETAC since it started launching China International Commercial Arbitration Annual Report series research project in 2014. It is also the only annual summary of the development of China’s international commercial arbitration. Xu Yanbo, Deputy Secretary-General of CIETAC presided over the press conference. 

Wang Chengjie said that arbitration as the main measure to resolve international commercial disputes, is significant for countries to optimize business environment and enhance soft power of the rule of law. At present, the domestic and international situation is undergoing profound and complex changes. Arbitration must fully grasp the new opportunities and challenges brought by these changes and make greater contribution to maintaining the international economic and trade investment order and improving global governance system. China’s international commercial arbitration is facing the task of realizing high-quality development and constructing a new development pattern. This May, CIETAC was ranked as one of the five most preferred arbitration institutions in the world in the “2021 International Arbitration Survey” released by the Queen Mary University of London, an authority in arbitration community. This is the first time for mainland arbitration institutions to rank among the top five, which manifests the prominent progress in the development of Arbitration in China and the recognition and trust of the international arbitration community and the majority of arbitration users in the rule of law in China’s arbitration practice.

Carrying out special research projects, releasing annual report of international commercial arbitration of China, presenting status of the development of international commercial arbitration of China, summing up experience, well-spreading Chinese story are of practical significance in promoting theoretical research and practice of China’s international commercial arbitration, Chinese influence and competitiveness in the international arbitration industry and facilitating the perfection and development of China’s international commercial arbitration system.

The annual report was commissioned by a research group set up by Renmin University of China, mainly composed by experts and practitioners from the SPC, universities and law firms. The Report combines empirical analysis with theoretical research to analyze statistics of China’s international commercial arbitration cases in 2020 as well as the development of China arbitration legal practice in the first half of 2021, and simultaneously tracks the theoretical research trends of commercial arbitration at home and abroad.

Wang Chengjie pointed out that the Report positively responded to and discussed the development and practice of international commercial arbitration in the context of COVID-19. It also summarized the experience of arbitration in construction engineering, aviation, finance and other substantive disputes aroused by COVID-19, as well as the comprehensive use of Internet information technology such as remote hearings to ensure the efficient and high-quality arbitration procedures. The Report carried out a "Special Financial Arbitration Case Observation" based on the financial cases concluded by CIETAC in 2020, in which 217 pieces of typical cases were collected and selected, and the characteristics of current arbitration cases involving domestic and cross-border financial disputes were summarized and the development of the concept of financial arbitration cases was analyzed with big data. The Report also focuses on the practice dynamics and development of conflicts of interest of arbitrators and the challenge of arbitrators in international commercial arbitration before and after 2020, sorting out the basic appearance of conflicts of interest in practice, which is of reference significance for clarifying the boundary of conflicts of interest of the arbitrators.

The Report is highly supported by the fourth division of the SPC, who was responsible for the judicial review and supervision of nationwide foreign-related arbitration cases. The Report focuses on judicial review of China’s international commercial arbitration through the most authoritative data and summarizes typical cases of judicial review of arbitration court in China and the enforcement of the arbitral awards abroad.

Wang Chengjie said that CIETAC will continue to carry out the annual report series research projects and forge ahead, and endeavor to push China’s international commercial arbitration cause for a greater future.

More than 30 news media including the Xinhua News Agency, the CCTV, China Radio International, China Daily, Legal Daily, China News Service, Economic Daily, China Trade News, Financial Daily, Phoenix TV, Macau Daily etc. attended the conference. Du Huanfang, Deputy Dean of Renmin University of China Law School, Dong Xiao, Partner of Anjie Law Firm, Yang Qiang, partner of Lantai Law Firm, and Chen Xijia, partner and co-head of Pinsent Masons Law Firm in China, attended the meeting and answered questions from the media as major members of the research group.