|China launched an Expert Committee for international business disputes|
|Author: Matej Balen|
|27th August 2018|
|BEIJING – International Commercial Expert Committee (ICEC) is set up to advise courts on international commerce during business disputes between foreign and Chinese counterparts.|
As reported by Xinhua, the International Commercial Expert Committee (ICEC) will have 32 domestic (Chinese) and foreign experts, including the ones from Russia, United States, United Kingdom and Germany.
Its establishment comes as part of efforts from the Supreme People's Court to enhance the rule of the law, especially between the disputed parties within the Belt and Road Initiative. It also aims to enhance international exchanges and cooperation and help courts resolve the rising number of international commercial disputes through arbitration, mediation and litigation.
Two courts were established in June 2018 that will specialise in resolving international commercial disputes in China – one in Xi’an (in Shaanxi Province) and one in Shenzhen (in Guangdong Province).
Several Committee members have emphasised that this is a big step for China to “gain trust of the international community and make litigants willing to file their disputes with Chinese courts. Also, the litigants will want to know that court judgments will be carried out justly.”