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07 January 2016
The Hong Kong International Arbitration Centre has opened an office in the Shanghai Free Trade Zone, the first representative office set up by an international arbitration institution in China. Hong Kong’s Secretary for Justice Rimsky Yuen, speaking at the opening ceremony, called it a ground-breaking arrangement, and that by establishing a platform in Shanghai, the centre has created a “triple win” situation.
“First, for Hong Kong, it is a business development of the HKIAC and a further introduction of the Hong Kong brand into the legal services market in the Mainland,” he said.
“Second, Shanghai enterprises can make use of the centre’s experience in solving business disputes, particularly in the area of international arbitration, when they are facing such disputes. Third, from the perspective of the country, it can provide further exchange and development opportunities for the legal and arbitration sectors in both places, which subsequently can contribute further to the economic development of China,” he added.
