China's Supreme People's Court released its Annual Report on the Judicial Review of Commercial Arbitration (2023) on Sept 9, detailing the advances made in the country's arbitration landscape throughout 2023.

The report is divided into three parts – highlights of the year in the judicial review of arbitration cases by the people's courts, an overview of the cases, and typical cases and their judgment rules.

According to the report, Chinese courts concluded over 16,000 arbitration-related cases in 2023. Notably, the annulment rate stood at a low of 5.11 percent with 552 cases. More than 5,100 arbitration-related preservation cases were concluded, 4,900 cases out of which were supported by courts, with a support rate of 95.73 percent. The low annulment rate and high preservation rate reflect the courts' support for the country's arbitration work. 

At a press conference on the release of the report, Wang Shumei, standing member of the SPC's adjudication committee, stressed the importance of judicial support and oversight in arbitration. "Judicial supervision of arbitration is a necessary guarantee to uphold the credibility of arbitration," she noted.

Wang Chengjie, vice-chairman and secretary-general of the China International Economic and Trade Arbitration Commission, said that the report demonstrates the firm support of the Chinese courts for arbitration, showcasing their openness and global vision. 

With detailed data, systematic analysis and case studies, the report vividly illustrates the new landscape of arbitration in China thriving under the strong support of Chinese courts, injecting momentum and confidence into the continuous and healthy development of China's arbitration work to serve the country’s foreign-related rule of law governance, Wang said.

The report highlights China's growing role in international arbitration. In 2023, Chinese courts received 75 cases requesting the recognition and enforcement of foreign arbitral awards by arbitration institutions from countries including Singapore, Switzerland, Japan, Russia, and the United Kingdom. Judgments in 69 of those cases were recognized and enforced. 

To date, China has set up 282 arbitration institutions, involving parties from over 100 countries and regions, providing efficient and professional legal services and guarantees for China’s high-quality development and high-level opening-up, according to the report.

In 2023, arbitration institutions in China handled a total of 607,000 arbitration cases, a 27.8 percent year-on-year increase, covering fields including economy and trade, engineering construction, finance and insurance, transportation, real estate transactions, agricultural production and operation, internet-based economy, and intellectual property, the report states.

The report also highlights the efforts of judicial bodies in improving the efficiency of arbitration procedures, such as upgrading the "one-stop" diversified dispute resolution platform for international commercial matters.