UN's settlement convention benefits China's opening-up
The United Nations' convention on mediated settlement agreements promotes international commercial dispute resolution and benefits China's opening-up, according to Luo Dongchuan, vice-president of the Supreme People's Court (SPC).
The UN's Convention on International Settlement Agreements Resulting from Mediation and the China Opening-Up Forum was held on Nov 6 at the China International Import Expo (CIIE).
Luo affirmed the positive impact the forum had in promoting diversified dispute settlement of international commercial affairs, as it boosts international trade and investment and creates harmonious international relations, which provides judicial guarantees for China's opening-up strategy.
According to Luo, courts at various levels in China have been developing solutions like mediation and arbitration as the number of lawsuits is booming
The SPC has set up a one-stop platform consisting of special tribunals and professional commissions to resolve international commercial disputes more conveniently and efficiently.
Luo stressed that related departments should explore adopting items of the convention into China's judicial mechanism.
He also showed his confidence that the convention will play a key role in creating a law-governed business climate, promoting the opening-up strategy in the new era and building the community with a shared future for mankind.
The forum was sponsored by the Ministry of Commerce.