Professor Wen Wanli Delivered the Lecture Named Arbitration rules of China (Shanghai) Pilot Free Trade Zone in SHUFE

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By Zhou Xunzhi. Translated by Claire Tian. December 1st, 2014.

On December 1st, 2014, the Third Forum of SHUFE Free Trade Zone Legal Forum was held on the first floor in Executive Building. The Vice President and Secretary-general of Shanghai International Economic and Trade Arbitration Commission, Professor Wen Wanli attended the forum and delivered a lecture named Arbitration rules of China (Shanghai) Pilot Free Trade Zone to teachers and students in SHUFE. The lecture was hosted by Dean of SHUFE Law, Executive Vice Dean of Graduate School, Professor Zhen Shaohua.

From the perspective of Arbitration rules of China (Shanghai) Pilot Free Trade Zone conception, Professor Wen Wanli made a brief introduction about the Highlighting issues in China (Shanghai) Pilot Free Trade Zone. The importance of the entry threshold of finance lease, the bank credit system and the legal consciousness became increasingly apparent during the development of China (Shanghai) Pilot Free Trade Zone. On this basis, Professor Wen Wanli talked about the arbitration rules, which consisted of 10 chapters and 85 articles, included innovations that were brought into the country for the first time and are the outcome of giving full consideration to the characteristics of businesses in the China (Shanghai) Pilot Free Trade Zone. As a leading member of Shanghai International Economic and Trade Arbitration Commission, which founded the court of arbitration for the FTZ in October, Professor Wen Wanli unscrambled the purposes and expectation when they enacted the China (Shanghai) Pilot Free Trade Zone Arbitration Rules. One thing novel in the rules, which would had become effective as of May 1, was that people could choose arbitrators outside the panel of mediators. Another innovation was that companies involved in commercial disputes relating to less than 100,000 yuan ($16,120) could apply for a summary procedure of arbitration, which meant a lower service fee and an earlier date for the case to be heard. At the same time, the efficiency was also valued. The Arbitration had been accepted in many countries, especially in cargo trade, which would be a key sector in the FTZ. It was regrettable that many multinationals weren't willing to opt for arbitration in China because the country's Arbitration Law was limited. But these rules complied with international standards; therefore arbitration would be an important approach to resolving commercial disputes in the FTZ.

Professor Wen Wanli introduced the content of China (Shanghai) Pilot Free Trade Zone Arbitration Rules and The application and execution of China (Shanghai) Pilot Free Trade Zone Arbitration Rules in arbitration cases’ judicial review and the some explanation of the issue published by Shanghai No.2Intermidiate People’s Court. He also did the comparative analysis of FTZ. Professor Wen Wanli also expressed that arbitration was an integrated part of the legal environment for the development of Free Trade Zone and Shanghai as a whole. He hoped China (Shanghai) Pilot Free Trade Zone would follow General Secretary Xi Jinping's instruction of "to explore and experiment with bold initiative and to create independently", accumulated replicable and scalable experience in institutional development, and strived to build Shanghai into an international arbitration center with great influence. The Rules, which was recognized as institutional innovation of dispute resolution in the Free Trade Zone and the important institutional achievement of legislative was a significant measure towards the construction of the rule of law, commerce-friendly and international environment in Free Trade Zone and even Shanghai as a whole. It would also be a good model for the formation of more replicable and scalable experiences for institutional reform in the future construction of legal environment in the Free Trade Zone.

Professor Wen made the abstract theories more persific by integrating the theories with practices. He shared several arbitration cases with teachers and students and also interacted with them deepening their understanding of Arbitration rules in China (Shanghai) Pilot Free Trade Zone.

Towards the end of the lecture, Professor Wen Wanli distributed bilingual materials about China (Shanghai) Pilot Free Trade Zone Arbitration Rules. The lectures ended in warm applause of all professors and students attending.

(Original news: http://law.shufe.edu.cn/structure/xyxwxx_166322_1.htm)

Published：2014-12-05 Hit：484