Judges with expertise in domestic and international law that are fluent in foreign languages will soon be available to investors in the Shanghai Free Trade Zone, China’s most recent step in the effort to attract foreign capital, and add certainty to transactions. Free trade does not mean “untamed”, and commerce benefits from defined rules, especially when controversies arise.
An article in China Daily reports that the FTZ court will provide an online platform to allow parties to follow rulings remotely, as a part of an increasingly business-friendly logic. Hearings will be carried out with live video streaming, and verdicts will be published on the internet, above all those that lead to greater standardization.
How to introduce an efficient arbitration mechanism is also being discussed, since cities in China are already equipped with two institutions – the Shanghai International Economic and Trade Arbitration and the Arbitration Commission, both of which are influential in China and abroad.