This photo taken on Oct 17, 2023 shows a decoration for the third Belt and Road Forum for International Cooperation near the China National Convention Center in Beijing, capital of China. (ANDY CHONG / CHINA DAILY)

Hong Kong is poised to offer its well-established international legal and dispute resolution services to resolve complex disputes that can arise from cross-region economic and trade cooperation in the Belt and Road Initiative, legal experts from Hong Kong and the Chinese mainland told a high-level legal forum on Tuesday. 

As the economic and trade cooperation among countries and regions participating in the BRI continues to widen and deepen, the role of international investment arbitration, which is the most effective legal tool to protect the interests of investors, has become increasingly prominent. With a deep pool of world-class legal professionals and a solid international legal and business environment, Hong Kong has much to contribute in the construction of the BRI.

The forum was held as part of the five-day 2023 Hong Kong Legal Week, which runs until Friday and is an annual flagship legal event co-organized by the city’s Department of Justice and other groups from Hong Kong and abroad

Qi Tong, deputy dean of the Wuhan University Academy of International Law and Global Governance, said that, as of October 2023, there were 24 known investment arbitration cases involving Chinese investors and foreign governments. More Chinese companies hoping to develop the international market need to use services related to international investment arbitration, he said, and there are more organizations and lawyers providing foreign-related legal services.

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Sun Jin, director-general of the International Organization for Mediation (IOMed) Preparatory Office, said he considers mediation to be a low-cost, expeditious and mutually beneficial solution to cross-border trade disputes. He said he recognizes the significance of the role played by the IOMed Preparatory Office, which was established in Hong Kong in February this year. Sun believes that IOMed will offer a new platform for international dispute resolution, for more countries participating in global governance, especially developing countries and regions. The IOMed will also nurture more international legal talent and promote Hong Kong's unique role as the superconnector in the BRI, Sun said.

Thomas So Shiu-tsung, chairman of eBRAM International Online Dispute Resolution Centre, said Hong Kong has obvious advantages in resolving cross-border trade disputes. The Hong Kong SAR is the only common law jurisdiction within China, he said, and the city has strong rule of law and an independent judiciary, as well as multilingual professionals from more than 30 jurisdictions, making the city capable of helping domestic enterprises reach out to the world market, and international enterprises reach out to the Chinese market. 

In addition, So pointed out that Hong Kong has world-class financial, accounting, engineering and insurance services, which can service the needs of enterprises at all stages of development. The city is a renowned deal-making and dispute resolution hub, So said.

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The forum was held as part of the five-day 2023 Hong Kong Legal Week, which runs until Friday and is an annual flagship legal event co-organized by the city’s Department of Justice and other groups from Hong Kong and abroad. Hong Kong Legal Week features a series of summits, panel discussions, mock court hearings, exhibitions and more, under this year’s theme, “Onward and Forward: Connecting the World”. The event brings together prominent legal and dispute resolution experts and academics from Hong Kong, Macao, the Chinese mainland, and overseas countries and regions.