Arbitration Laws of the Country (China)
China has taken many steps into bringing the Chinese economy more developmental based on a world economy. China’s arbitration system likewise has undergone many influential changes to support China in her endeavors. The paper aims to understand Chinese National arbitration laws as applicable to international arbitration. To discuss this, it is essential to understand the arbitration law space present in PRC.
The need for an arbitration law in China was set in the early 1980’s. This arbitration law grew in response to the demands of both domestic and international arbitration. Dispute resolution services, arbitrators and the need for more effective legal framework set the backdrop for the promulgation of the law in the 1990’s. The People’s Republic of China (PRC) Arbitration Law 1994 (PRC Arbitration Law) is the law for arbitration. It was promulgated in 1994 and came into force on 1995. 1As with any nation, the form of civil legal dispute will decide if it is entered into litigation or arbitration. Any civil legal disputes that cannot be resolved amicably by pre-action negotiations or other outside the court means will be bought up with an arbitration tribunal under arbitration law. The Court will intervene and will adjudicate the cases. It will exercise jurisdiction over civil cases and to a certain extent will also address cases under international jurisdiction. Chinese law in growing with the trends of commercial development and global interactions has also made their standards in tune with international commercial arbitration systems. However, there is still place for growth.