Pivot To Arbitration: China Embraces Arbitration To Promote Investment

In the past several months, China has adopted new arbitration rules and unveiled a new arbitration center to help resolve the inevitable international disputes arising from the development of The Silk Road Economic Belt and 21^st-Century Maritime Silk Road, commonly referred to as the One Belt One Road Initiative.

Although China is a signatory to the New York Arbitration Convention on the Recognition and Enforcement of Foreign Arbitral Awards,[1] China has been considered a difficult jurisdiction for international arbitration because few Chinese judges and lawyers are familiar with the relevant law. Between 1994 and 2004, Chinese courts enforced just 37 percent of foreign arbitral awards.