Latest news with #China-initiated
The Star
4 days ago
- Politics
- The Star
China establishes global mediation body in Hong Kong
The International Organisation for Mediation (IOMed) headquarters, a China-initiated body, is seen under construction for global dispute resolution, in Hong Kong, China, May 29, 2025. - Reuters HONG KONG: China signed a convention on Friday (May 30) setting up a global mediation body in Hong Kong, which aims to be comparable to organisations such as the International Court of Justice (ICJ). Beijing has taken a more proactive approach in international affairs in recent years, expanding its influence in global bodies such as the United Nations and the World Health Organisation - especially as the United States has taken the opposite direction under President Donald Trump. The move is also being seen as an attempt to shore up Hong Kong's reputation as a leading place to conduct business, after Beijing's imposition of a wide-ranging national security law in 2020 shook confidence in the impartiality of the city's legal system. Initiated by Beijing, the establishment of the International Organisation for Mediation Convention (IOMed) was co-signed by 31 other "like-minded" countries ranging from Serbia and Pakistan to Papua New Guinea and Venezuela. "The birth of IOMed will help transcend the zero-sum mentality of 'win or lose', promote the amicable resolution of international disputes and build more harmonious international relations," said China's foreign minister Wang Yi, who presided over the signing. Hong Kong's government said IOMed will be the first intergovernmental body dedicated to mediation, while Wang said it would "fill a gap in the field". Mediation is when a neutral third party intervenes into a dispute to help two sides negotiate a jointly acceptable resolution to a conflict, as opposed to, for example, political bargaining or litigation. The body will mediate disputes between countries, between countries and individuals from another country, and between private international entities. IOMed "is on a par with" the United Nations' ICJ and the Permanent Court of Arbitration in The Hague, said the Hong Kong government. One of the latter's more well-known rulings was in favour of the Philippines against China over territorial claims in the South China Sea. Beijing refused to take part in the proceedings and has ignored the judgement. Paul Lam, Hong Kong's secretary for justice, wrote in an article that IOMed's establishment came as "hostile external forces are attempting to de-internationalise and de-functionalise" Hong Kong. IOMed will start operating by the end of this year or early 2026. - AFP
Straits Times
4 days ago
- Business
- Straits Times
China sets up international mediation body in Hong Kong
The International Organisation for Mediation headquarters, a China-initiated body, is seen under construction for global dispute resolution, in Hong Kong, China, on 29 May. PHOTO: REUTERS HONG KONG - Chinese Foreign Minister Wang Yi signed a convention setting up an international organisation for mediation in Hong Kong on May 30 that Beijing hopes will be on par with the International Court of Justice and bolster the financial hub's international credentials. The inauguration comes amid growing geopolitical tensions which have been exacerbated by US President Donald Trump's global trade war and fuelled risks of a sharp worldwide economic downturn. Escalating trade tensions between China and the US have been a focal point for investors and markets in recent months, with the trade war leading to significant impacts on global commerce and supply chains. The mediation body aims to cement Hong Kong's presence as a top centre to resolve disputes between countries, leader John Lee said earlier this week, adding that it's status would be on par with the International Court of Justice and the Permanent Court of Arbitration of the United Nations in The Hague. It would help bring 'substantial' economic benefits and job opportunities and stimulate various sectors including hospitality and transport, Mr Lee said. Indonesia, Pakistan, Laos, Cambodia and Serbia are among the countries attending the ceremony. Representatives from 20 international bodies including the United Nations were also expected to join, public broadcaster RTHK said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
