PR100295

SHENZHEN, China, Aug. 31, 2023 /Xinhua -AsiaNet /--

September marks two years since the release of the Plan for Comprehensive

Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern

Service Industry Cooperation Zone (the Qianhai Plan), and the Qianhai

Shenzhen-Hong Kong International Legal-services District continues to open its

door wider to the world.

In a recent move, China's Ministry of Commerce included the "development of the

Qianhai Shenzhen-Hong Kong International Legal-services District" in its

Priority List for Pilot Free Trade Zones (2023-2025), with particular emphasis

on key initiatives in the Qianhai-Shekou Area. Since its inauguration in

January 2022, the Qianhai Shenzhen-Hong Kong International Legal-services

District has attracted 182 legal service entities across six distinct

categories. Notably, Qianhai stands as the only region in Guangdong authorized

to pilot joint operations of Chinese and foreign law firms. 7 joint ventures

formed by law firms from Guangdong, Hong Kong, and Macao across China have

chosen Qianhai as their home, according to Authority of Qianhai Shenzhen-Hong

Kong Modern Service Industry Cooperation Zone.

The Qianhai Shenzhen-Hong Kong International Legal-services District has forged

an all-encompassing system for commercial dispute resolution, incorporating the

Supreme People's Court (SPC)'s "judicial final review" mechanism and the

Shenzhen Court of International Arbitration (SCIA)'s "finality of

single-instance arbitration" mechanism. The arbitration rules and mechanisms

established by the SCIA in Qianhai seamlessly align with global standards.

Chi Wenhui, deputy director of the Department of International Cooperation and

Development at the SCIA, shared in an interview with journalists: "This year

signifies the 13th anniversary of the Qianhai Shenzhen-Hong Kong Modern Service

Industry Cooperation Zone, the second anniversary of the Qianhai Plan, and the

40th anniversary of the SCIA. As the first international arbitration

institution in the Guangdong-Hong Kong-Macao Greater Bay Area, the SCIA

reflects the outcomes of China's reform and opening-up endeavors, along with

the evolution of the Shenzhen Special Economic Zone. Following our

establishment in Qianhai, our aggregate disputed value of arbitration cases in

2022 reached a remarkable 127.2 billion yuan, ranking number one in Asia and

among the top three across the globe."

The development of four pivotal systems -- a comprehensive commercial dispute

resolution system, a rule system aligned with international standards, a

full-chain and full-lifecycle legal service system, and a vibrant rule-of-law

innovation system -- collectively enhances the internationalization of legal

services in Qianhai.

Wu Jiansheng, director of the Publicity Department at the Qianhai Belt & Road

Legal Services Federation, remarked during an interview: "The 'four major

systems', for one thing, make commercial dispute resolution more efficient. For

another, they can fortify the legal service capacities and stimulate legal

innovation, especially in the digital rule of law sphere. This will draw an

influx of legal experts and businesses to Qianhai, contributing to the further

opening-up of Qianhai's legal endeavors."

Experts suggest that the Qianhai Shenzhen-Hong Kong International

Legal-services District can further deepen its unique capabilities in

cross-border case jurisdiction, cross-border legal applicability, cross-border

judgment enforcement, and more. This will likely entice more globally

recognized arbitration institutions to establish a presence. Concurrently, it

can broaden the scope of its arbitration practices, intensify collaborations

with Hong Kong and Macao, and cultivate a pool of adept professionals,

ultimately building itself into an more open legal service district.

Observers expect a promising trajectory for the Qianhai Shenzhen-Hong Kong

International Legal-services District, believing that Qianhai will become a new

paradigm for international legal service hubs in China.

Source: Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry

Cooperation Zone