June 27, 2018

The Supreme People's Court will set up the first international commercial court in Shenzhen in South China's Guangdong Province and the second international commercial court in Xi'an, capital of Northwest China's Shaanxi Province, to settle cross-border commercial disputes in the Belt and Road (B&R) initiative, China Central Television reported on Wednesday, citing a notice issued by the State Council, China's cabinet.

The settlement will follow four principles, including jointly discussing and developing and sharing of the mechanism, handling disputes in a fair, efficient and convenient manner, respecting the autonomy of the will of the parties, as well as diversifying methods of dispute resolution, the report noted.

Commenting on the matter, Chen Fengying, an expert at the China Institutes of Contemporary International Relations, noted that these courts represent a new idea that China has never implemented before, showing the country's respect for different legal systems. 

Read more:

http://www.globaltimes.cn/content/1108639.shtml