The Evolution of ADR Services for Inbound and Outbound Investment: The Chinese Perspective
JAMS was extremely proud to host Chinese Supreme Court Justice Hu Shihao and Shanghai People’s High Court Justice Yin Yonglei, along with four senior members of the Shanghai JAMS affiliate, the Shanghai Commercial Mediation Center in New York.
The visiting delegation were panelists in a highly successful seminar JAMS hosted at Fordham University, where nearly 200 legal professionals attended a four-hour seminar. JAMS panelists Robert B. Davidson, Esq. and Ambassador (Ret.) David Huebner also participated in one of the panel discussions.
Speakers on the panels focused on the significant changes in the Chinese judicial system, including the rise of mediation and arbitration as important tools to boost foreign investment. China and the U.S. are the two of the largest economies on earth, and each other’s biggest trading partners. Working to reduce investment risk, and improve trade between these two economic powerhouses has already had important impacts for companies investing on both sides of the Pacific.
Panelists also discussed the “One Belt, One Road” plan currently in place in China and surrounding nations. Ongoing legal reforms, and a particular focus on ADR, play a key role in facilitating the massive investments and treaties needed to realize this ambitious infrastructure program. Despite the amount of progress made in cultivating foreign investment, a significant concern remains for attorneys and their clients with regards to the enforcement of foreign arbitration awards and settlements.
China resolves thousands of commercial cases each year through the use of mediation. With support from organizations like JAMS and local government mediation centers around the country learning from one another, that number will continue to grow as businesses will see increased value from continued use of ADR.
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