On April 24th, 2017, the Symposium on Public Credibility of Arbitration in China, co-organized by the China Academy of Arbitration Law and the School of Law of University of International Business and Economics, was held in Beijing. Representatives of domestic arbitration institutions, academic researchers and practitioners, as well as senior officials from governing agencies participated in this symposium.
Mr. Wilson Huo, a partner from Zhong Lun Law Firm, attended the symposium and delivered a keynote speech. Based on his extensive practical experience in the field of arbitration, Wilson pointed out that commercial arbitration in the mainland of China is facing a myriad of internal and external challenges, especially the liberalization of power of arbitration institutions and arbitral tribunals and so on so forth. He analysed the situation in the industries such as banking and financing whereby the disputes “should have been resolved by arbitration but not”. In order to respond to the new challenges, Wilson proposed concrete advice on standardizing arbitrations institutions’ appointment of arbitrators, strengthening the function of arbitration supervision department, improving the arbitration case quality evaluation system and restoring arbitration’s nature of service, etc.