Haikou International Commercial Mediation Center unveiled,providing convenient and efficient mediation services for commercial subjects
News source:Hihainan / By Gan Zixin / 09 18,2020 16:54:44 / others

On the morning of September 17, the Haikou International Commercial Mediation Center was officially unveiled on Sanheng Road, Guomao, Haikou, which means that in addition to litigation and arbitration, commercial subjects can choose another channel of high-efficient and low-cost dispute resolution in Haikou from now on. This is the first private non-enterprise unit professionally handling mediation of commercial disputes in Hainan.

A representative in charge of the Haikou municipal government said that the establishment of the Haikou International Commercial Mediation Center is a concrete measure to “build up a diversified mechanism of international commercial dispute resolution” proposed in the Overall Plan for the Construction of Hainan Free Trade Port.

On the morning of September 17, the Haikou International Commercial Mediation Center was officially unveiled on Sanheng Road, Guomao, Haikou. (Photo source: Hainan Provincial Justice Department Office)

Since the release of the Overall Plan for the Construction of the Hainan Free Trade Port on June 1 this year, the number of newly added market players in Haikou has shown explosive growth. As of August 31, 2020, Haikou has added 30,000 new market players, a year-on-year growth of 19.4%, with stock market players reaching 434,000, accounting for 41% of Hainan province.

“These figures on one hand showcase the immense potential of the construction of the Hainan Free Trade Port as well as the economic development of Haikou, while on the other hand propose a higher standard for our work in resolving commercial disputes, especially international commercial disputes. As the provincial capital of Hainan, Haikou needs to build up a more high-quality commercial dispute resolution mechanism and system,” said a representative in charge of the Haikou municipal government.

"As one of the three ways to solve commercial disputes in addition to litigation and arbitration, mediation is relatively flexible, convenient and economical." According to Liao Hui, President of the Haikou International Commercial Mediation Center, when investigating a local business environment, it is very important for international commercial subjects to to see whether there is a comprehensive and thorough dispute mediation and arbitration mechanism. If the channels for mediation and arbitration of a city are smoothly working, and mediation, arbitration, and litigation are closely connected and efficient, international investors will have more confidence in investing here. "Therefore, the establishment of an international commercial mediation center in Haikou is just going with the flow."

The Haikou International Commercial Mediation Center was set up by the Haikou municipal government in accordance with private non-enterprise management, using a market-oriented operation mode and international standard mediation rules, to provide convenient, efficient, high-quality commercial mediation services for domestic and international enterprises.

The vitality of a commercial mediation center lies in public credibility. To carry out commercial mediation requires a group of mediators with high political literacy, a good service reputation, and strong professional competence. The Haikou International Commercial Mediation Center has therefore created an innovative model, employing 5 full-time mediators and 108 specially invited mediators. "The specially invited mediators are the 'main force' of the centre. They are composed of retired judges, senior lawyers, and mediators from Hong Kong and Macao, who have high standards of professional ethics and abundant practical experience," said Liao Hui. He stated that when commercial disputes enter the mediation process, the parties can choose specially invited mediators from the list, or the mediators can be appointed by the center. If an agreement is successfully reached through mediation, the parties concerned shall apply to the court for judicial confirmation, thus granting the mediation agreement judicial enforcement power.

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