But experts say there is still a long way to go before China can compete with them, and the legal profession will need to do more to align with international practices and build trust.
There are already some 282 registered arbitration institutions in China, and the government has sought to promote its top-tier cities as alternatives to the world’s leading international arbitration centres.
The move is partly aimed at being able to better respond to the disputes that are arising as Chinese companies expand investment overseas, but legal professionals say that goal is still a long way out of reach.
“Various initiatives are under way across different Chinese cities, but they are still quite far from becoming true international arbitration centres,” according to Ma Zhihua, a partner with the DaHui Law Firm in Beijing.
“It has been discussed at high level and municipal level, but the actual progress and impact remain uncertain,” said Ma, who has worked in arbitration for more than two decades.
