Invest Hong Kong encourages Mainland companies to tap Hong Kong’s legal and dispute resolution services
Invest Hong Kong (InvestHK) today (21 November 2017) took part in a seminar at the 9th China Overseas Investment Fair in Beijing, encouraging Mainland companies to make use of Hong Kong’s unique edge in legal and dispute resolution in their overseas expansion amid the Belt and Road Initiative.
Associate Director-General of Investment Promotion, Mr Francis Ho, speaks at a seminar at the 9th China Overseas Investment Fair in Beijing
Entitled “Belt and Road – Seminar on Hong Kong Legal and Dispute Resolution Services”, the seminar was jointly organised by InvestHK and the China Overseas Development Association. Supporting organisations included the National Development and Reform Commission, the Department of Justice of the Government of the Hong Kong Special Administrative Region (HKSAR) and the Beijing Office of the Government of the HKSAR. The event was also co-organised by the B&R Supply-Chain Finance Union (Hong Kong).
The seminar began with remarks by Associate Director-General of Investment Promotion Mr Francis Ho and the Director-General of the Department of Laws and Regulations of the National Development and Reform Commission, Ms Yang Jie.
Highlighting Hong Kong’s status as a leading international law and dispute resolution service centre in Asia, Mr Ho said, “Hong Kong enjoys unique dual advantages under the ‘one country, two systems’ arrangement. As a business and services hub in Asia, Hong Kong offers a comprehensive and modern service industry, with a deep pool of talent in the legal, financial, accounting, tax and engineering service sectors. The city also has amassed profound experience in regard to policymaking as well as commercial and legal systems in both the Mainland and the international communities, which makes it an ideal neutral venue for arbitration. In addition, many renowned international arbitration institutions have already set up their presence in Hong Kong. Our legal and dispute resolution practitioners are familiar with international commercial laws and possess a high level of professional expertise. All these advantages would help Mainland companies ‘go global’ under the Belt and Road Initiative because Hong Kong offers a very good legal and dispute resolution buffer against possible disputes arising from international investment and infrastructure projects involving many different parties, and is therefore a very reliable platform from which they can expand their business globally.”
Other speakers at the seminar included the Vice Chairman of the Standing Committee on Greater China Affairs of the Hong Kong Bar Association, Mr Frederick Chan, and member of the Arbitration Committee of the Law Society of Hong Kong Mr Eric Woo. They explained how Hong Kong barristers handle cross-border disputes that may arise from Belt and Road investments and the procedures in applying for granting Mainland arbitration awards in Hong Kong.
There was also a panel discussion on arbitration services named “Understanding of Arbitration Procedures in the Mainland and Hong Kong in the Perspective of Belt & Road Strategy and How to Choose the Appropriate Arbitration Centre in Hong Kong” at the seminar. Speakers included the Secretary-General of the China International Economic and Trade Arbitration Commission (CIETAC) Hong Kong Arbitration Center and the China Maritime Arbitration Commission (CMAC) Hong Kong Arbitration Center and President of the Arbitration Court of the CIETAC Hong Kong Arbitration Center and the CMAC Hong Kong Arbitration Center, Dr Wang Wenying; the Deputy Secretary-General of the Hong Kong International Arbitration Centre and Chief Representative of the Shanghai Office, Dr Yang Ling; and the Director of ICC Arbitration & ADR, North Asia, International Chamber of Commerce, Dr Fan Mingchao. They discussed three main themes, which were “Arbitration in Hong Kong: Why and How?”, “Hong Kong – Choice of Arbitration, Arbitration Place and Arbitral Body” and “Hong Kong’s Cross Border Dispute Resolution Services”. The panel was moderated by the Commissioner of the Joint Dispute Resolution Strategy Office of the Department of Justice of the Government of the HKSAR, Miss Chen Kit-yi.
About Invest Hong Kong
InvestHK is the department of the HKSAR Government established in 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong’s vibrant economy. For more information, please visit www.investhk.gov.hk.
For event photos, please visit www.flickr.com/photos/investhk/albums/72157689823712595.