In September 2023, China’s Supreme People’s Court released its 2020 Annual Report on Judicial Review of Commercial Arbitration, aiming to standardize criteria, regulate judicial review power, guide arbitration institutions, and provide case materials for legislative amendments.
Arbitration in China
The China Maritime Arbitration Commission (CMAC) publicly revealed its first-ever arbitral award in an ad hoc arbitration case, marking a significant milestone in the utilization of ad hoc arbitration in China's maritime disputes.
In December 2022, the Supreme People’s Court of Vietnam upheld a trial court's decision to recognize and enforce an arbitral award from the Shanghai International Arbitration Center (SIAC).
In June 2023, the Shanghai International Arbitration Center (SHIAC) promptly froze the respondent’s bank accounts through an online system when handling the applicant’s property preservation application in a supply contract arbitration.
In April 2023, the Beijing Financial Court accepted the application for interim measure and ruled to seize, impound, and freeze the property in the name of the relevant parties up to a limit of USD 14,784,384.42.
CIETAC, BAC, SHIAC and SCIA - four major arbitration institutions in mainland China- have released arbitration statistics report for 2022.
In November 2022, Beijing Fourth Intermediate People’s Court issued a ruling in a foreign-related judicial review of arbitration case involving third-party funding, where the legality of third-party funding in arbitration was confirmed.
In January 2023, China’s Ministry of Justice issued three arbitration guiding cases, aiming to publicize the advantages of arbitration in dispute resolution as being efficient, convenient, and professional.
In October 2022, China Arbitration Association was registered with the Ministry of Civil Affairs as a social organization, marking its official establishment since being under consideration in 2018.
In November 2022, the first Metaverse arbitration court worldwide set up by the Guangzhou Arbitration Commission awarded its first case.