CIETAC Announces Key Changes To Arbitration Rules

I. INTRODUCTION

After two years of debate and several rounds of amendments, the China International Economic and Trade Arbitration Commission (中国国际经济贸易仲裁委员会) (CIETAC) has finalized revisions to its arbitration rules, which came into effect May 1, 2012 (the "Revised Rules").¹ The Revised Rules replace the prior rules which came into effect May 1, 2005 (the "Prior Rules"). The Revised Rules will increase party autonomy, reduce unnecessary expense, and bring CIETAC's rules and procedures into greater conformity with those of other major international arbitration providers. On balance, the Revised Rules should continue the process of increasing CIETAC's appeal as a respected forum for international dispute resolution.