Hong Kong’s Role as a Leading International Dispute Resolution Centre Continues to Grow
The legal landscape in Hong Kong is evolving as more companies choose the city as a preferred destination for arbitration and mediation, solidifying its status as a leading international dispute resolution center. According to data from the Hong Kong International Arbitration Centre, the number of arbitration cases in Hong Kong has seen a significant increase, reaching 344 last year, up 24% from the previous year.
Barrister Christopher To Wing, who has been handling mediation and arbitration cases in Hong Kong since the 1990s, noted that there is a growing trend towards settling disputes in Hong Kong. The city ranked third globally as the most preferred location for arbitration, after London and Singapore, according to a survey conducted by the School of International Arbitration at Queen Mary University of London.
Robert Lee Wai-wang, a lawmaker for the financial services sector and CEO of Grand Capital Holdings, highlighted Hong Kong’s role as a gateway for international firms looking to enter the mainland Chinese market. He emphasized that as China continues to open up its market, Hong Kong’s position as a dispute resolution center will continue to grow.
One of the key advantages of choosing Hong Kong for arbitration is its common law jurisdiction, which sets it apart from other cities in China. This, combined with a sound and credible legal system, highly respected judges, and competent legal practitioners, makes Hong Kong a top choice for resolving international disputes.
The development of the Greater Bay Area has further fueled the demand for dispute resolution services in Hong Kong. Companies within the Greater Bay Area are increasingly looking to the city for resolving business disputes, given its common law jurisdiction and reputation for fairness and efficiency in arbitration and mediation.
To strengthen Hong Kong’s standing as a dispute resolution center, the Central Government supported the introduction of a Greater Bay Area qualification exam for city-based lawyers in 2021. This initiative allows Hong Kong lawyers to qualify in mainland China, enabling them to offer their mediation and arbitration services to companies in the Greater Bay Area.
As the legal landscape continues to evolve in response to the opening up of China and the development of the Greater Bay Area, Hong Kong is poised to further solidify its position as a leading international dispute resolution center, offering a reliable and efficient platform for resolving complex international disputes.