Latest news with #disputeResolution
South China Morning Post
3 days ago
- Business
- South China Morning Post
Global mediation body a chance for Hong Kong to prove sceptics wrong
The establishment of the International Organisation for Mediation in Hong Kong marks a significant milestone. This initiative presents an opportunity for the city to cement its status as a global mediation hub, fostering peaceful dialogue and dispute resolution in a rapidly evolving world. Success, however, depends on the local leadership's ability to build trust and demonstrate a commitment to internationally recognised legal standards. The global body's presence in Hong Kong could offer a diplomatic pathway for complex disputes, including territorial disputes or other sensitive matters related to major national interests around the world. Effective mediation requires neutrality, voluntary participation and credibility, principles that Hong Kong must emphasise to ensure broad acceptance of its role. Such credibility is not assured by institutional declarations alone. No matter how often Hong Kong commits to internationally recognised norms, scepticism may remain, particularly given persistent perceptions that political influence has weakened judicial independence International parties will inevitably weigh their options when considering choice of venue . Why should good lawyers and big multinational companies forego other established venues with impeccable reputation for Hong Kong? A respected legal framework is essential to building confidence among stakeholders. To achieve this, Hong Kong's leadership must engage with legal communities around the world, assuring businesses, policymakers and practitioners that the organisation will uphold impartiality and effectiveness. Trust in mediation depends on strong governance, and Hong Kong's role in this domain must be reinforced through institutional integrity.
South China Morning Post
4 days ago
- Business
- South China Morning Post
‘Credible' new global mediation body will draw investors to Hong Kong: Paul Chan
The new International Organisation for Mediation launched in Hong Kong will be an efficient, fair and credible mechanism for dispute resolution and attract investors from the Global South as the economy shifts towards these developing countries, the city's finance minister has said. Advertisement Secretary for Finance Paul Chan Mo-po said on Sunday the inauguration of the China-led body on Friday established Hong Kong's role as the global legal and mediation centre for the Asia-Pacific region. 'An efficient, fair, just, and credible dispute resolution mechanism is one of the important pillars for promoting more international investment and trade, and helps to enhance investor confidence,' Chan wrote in his weekly blog. 'As China's only common law jurisdiction, Hong Kong has excellent rule of law, comprehensive legal and dispute resolution services, coupled with a trilingual environment and tolerance for different cultures, making it the most ideal location for the International Organisation of Mediation.' Chan also said that the establishment of the legal body would enhance the competitiveness of Hong Kong's international financial, trade and shipping industries, and promote good ties with the Global South, referring to countries in Africa, Latin America and Southeast Asia. Advertisement Chan noted that the global economy was 'shifting eastward', and developing countries in Asia, including China, which made up one-quarter of the world's gross domestic product, wanted more say on global governance. 'In recent years, more Asian and African countries have also stated their desire to adopt mediation as an alternative to arbitration for resolving disputes,' said Chan, noting that mediation was more 'flexible, economical and efficient' than arbitration.
NHK
6 days ago
- Business
- NHK
China-led global body for dispute mediation to be established in Hong Kong
China has set up an international body to resolve disputes through mediation along with more than 30 countries, mainly those of the Global South. A signing ceremony was held in Hong Kong on Friday with 32 nations attending as founding members of the International Organization for Mediation, to be headquartered in the territory. The group comprises mainly developing nations in Africa and Asia with close ties to China. Chinese Foreign Minister Wang Yi said the new organization is designed to make international dispute settlement mechanisms fairer and beneficial to all, and improve representation of the Global South in international governance. The Chinese government says the organization will work to resolve commercial and other international disputes. But it has not made it clear what cases the organization will handle or how it will operate. In 2016, China reacted sharply to a ruling by the Permanent Court of Arbitration in The Hague. The court dismissed China's claim to the South China Sea, which is also claimed by other countries in the region. China apparently aims to deepen ties with Global South nations and create an international order advantageous to itself amid escalating rivalry between Beijing and Washington.
The Standard
7 days ago
- Business
- The Standard
China sets up international 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/Tyrone Siu/File Photo
South China Morning Post
29-05-2025
- Business
- South China Morning Post
How will hosting the International Organisation for Mediation benefit Hong Kong?
Hong Kong will be hosting the world's first international legal organisation dedicated to mediation, with Chinese foreign minister Wang Yi arriving in the city on Thursday to attend the signing ceremony the next day for the body's inauguration. Experts told the Post that the establishment of the International Organisation for Mediation would bolster Hong Kong's status as a dispute resolution hub, enabling the city to handle disagreements between states, as well as those between investors and governments, amid increasingly fraught geopolitical tensions across the globe. The Post takes a closer look at the organisation's significance for Hong Kong and how mediation differs from other legal methods in resolving conflicts. 1. What is the International Organisation for Mediation? Announced in 2022, the International Organisation for Mediation is designed to create an intergovernmental platform for resolving global disputes. Beijing earlier said the country and 'nearly 20 like-minded' nations had jointly initiated the establishment of the body. Legal experts said the new organisation would address disputes that involved states and investors. Professor Shahla Ali, a dispute resolution specialist and associate dean at the University of Hong Kong's faculty of law, said the body could address three types of disputes: those between states; those between a state and a foreign national; and those between companies based in different jurisdictions. Hong Kong Bar Association chairman Jose-Antonio Maurellet said disputes between states in areas such as trade and intellectual property could require mediation.
