With the further implementation of the "going-out" policy and the coming of the "belt and road" initiative, cross-border transactions involving China are increasing dramatically. Since legal disputes will inevitably arise, it is wise to ensure the security of such transactions and avoid losses by designing effective dispute resolution mechanisms in advance. Hong Kong has a unique position in cross-border commercial dispute resolution, since it generally serves as an acceptable choice for both domestic and foreign parties to resolve disputes through litigation or arbitration in cases where the parties cannot reach consensus as to the governing law and method of dispute resolution. Han Kun Law Offices, a leading PRC law firm specializing in investment and financial legal services, by virtue of its mainland China and Hong Kong legal services network, has a relative advantage in resolving cross-border transaction disputes.
On July 28, Han Kun Law Offices, supported by the China International Arbitration Research Institute, Cross-border Investment and Law Training Center and the Yi Cai Business Law Research Institute held a seminar entitled "Cross-border Transaction Dispute Resolution: Selection and Application of Hong Kong and the Mainland Legal Measures" at the SCIA. The seminar drew participants from many well-known enterprises and law firms, including Manroland, HNA Innovative Financial Group Co., Ltd., Air France, Septwolves and ZTE.
The seminar was chaired by Mr. Chen Rui, Deputy Director of the FTA Department at the SCIA. The presenters included Ms. Bonita Chan, a partner at Han Kun’s associate firm in Hong Kong, and Han Kun partner Mr. Andy Liao. Mr. Wang Qianhua, a professor and vice dean at the Hong Kong and Macao Basic Law Research Center at Shenzhen University, Mr. Lin Yifei, the Vice Dean of the China International Arbitration Research Institute and the Dean of Yi Cai Business Law Research Institute also shared their comments and thoughts on the seminar topics.
The seminar covered two topics: "selection of governing law and dispute resolution mechanisms for cross-border transactions" and "comparing interim measures and judicial cooperation between Hong Kong and Mainland China." During their presentations, Ms. Chan and Mr. Liao described the differences in the dispute resolution systems between Hong Kong and Mainland China. They also analyzed the advantages and disadvantages of different dispute resolution methods based upon case study and analysis of the provisions of laws and regulations. They also shared their practical experience in the areas of cross-border interim measures and judicial cooperation.
Mr. Wang briefly introduced the differences in the service of process and fee methods between the Hong Kong and Mainland dispute resolution systems and put forward suggestions on how to choose dispute resolution mechanisms in cross-border transactions by offshore companies. Mr. Lin stressed the importance of selecting arbitration mechanism for cross-border enforcement and briefly introduced the current main arbitration institutions. He suggested to the attendees the need to select an arbitration institution according to the different nature of the transaction and the party's negotiating position.
Mr. Chen briefly introduced the developments in recent years of the SCIA. He also introduced the SCIA Arbitration Rules that were put into effect on December 1, 2016 and highlighted some of the key innovative features.
The seminar was made a success with the support from the China International Arbitration Research Institute, Cross-border Investment and Law Training Center, Yi Cai Business Law Research Institute and the support of all attendees. Han Kun appreciates the support provided by all guests and staff for the seminar.
Han Kun will hold more professional events in the future. We are looking forward to your participation.
