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Settling matters
By Jiang Jingjing (China Daily)
Updated: 2008-04-14 10:35 Gao Fei, secretary-general of Arbitration Law Research Institute of China International Economic and Trade Arbitration Commission, says the best aspect of choosing arbitration is because the parties are not constrained by national laws, but rather, can invoke a system of laws that is internationally recognized. Gao says China has joined the New York Convention, which means foreign arbitration rulings can be applied in China and vice-versa. But she says China still does not allow foreign legal representatives to comment on which laws to use during the arbitration. Tao points out that Chinese courts have extended their power too much to the arbitration sector, which leads many firms planning to use arbitration instead of going to court. Sigvard Jarvin, senior counsel of Jones Day in Paris and formerly general counsel of the International Court of Arbitration, talks about the history of arbitration at the Stockholm Chamber of Commerce. He says the Chamber has a long tradition in dealing with China-related cases, although their number represents less than 10 percent of the cases it handles. According to Jones Day's predictions, there are 10 million dispute cases each year, and only 500,000 are settled through arbitration. "As a foreign law firm, Jones Day has a wide network and knowledge on arbitrations in every city across the globe. We are very happy to work with local enterprises when they need help," Tao says. Jones Day has over 30 locations across the globe, with over 2,300 lawyers. In Beijing, the firm has about 60 locally or foreign trained partners, lawyers and consultants who are familiar with global arbitration matters, Tao says. Jones Day can provide information for enterprises on where and how to go through arbitration anywhere in the world. (For more biz stories, please visit Industries)
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