On June 18, 2021, the unveiling ceremony of China International Economic and Trade Arbitration Commission Xiong'an Sub-Commission (“CIETAC Xiong’an Sub-Commission”) and the Xiong'an International Economic and Trade Arbitration Forum was successfully held in Xiong'an. Mr. Lu Pengqi, Member of the CPC Group and Vice Chairman of China Council for the Promotion of International Trade (“CCPIT”), and Mr. Zhang Guohua, Member of the CPC Standing Committee of Hebei Province, Vice Governor of the Hebei Provincial Government, Secretary of the Party Work Committee and Director of the Management Committee of Xiong'an New Area, jointly unveiled the nameplate of the CIETAC Xiong'an Sub-Commission. The leader of the Hebei Provincial Department of Justice read the Letter on Approving the Filing of the China International Economic and Trade Arbitration Commission Xiong'an Sub-Commission. More than 200 people including the heads of the Hebei Provincial Department of Justice, Hebei CCPIT, the Hebei Lawyers Association, Party and Government Office of Xiong'an New Area, the Party and Mass Work Department, the Reform and Development Bureau, the Public Service Bureau, the Comprehensive Law Enforcement Bureau, the Administration of Xiong'an New Area of Hebei Pilot Free Trade Zone, the Intermediate People's Court of Xiong'an New Area, the Tax Bureau of Xiong'an New Area, the People's Government of Xiong County, Rong County and Anxin County, the Xiong'an Group, the Agricultural Bank of China Xiong'an Branch, and the heads of enterprises involved in the construction of Xiong'an New Area, as well as experts, judges, lawyers and scholars from the arbitration and business circles witnessed this important moment.

Mr. Wang Chengjie, Vice Chairman and Secretary General of CIETAC presided over the opening ceremony and unveiling ceremony.

(the Venue)

(the Unveiling Ceremony)

The establishment of Xiong'an New Area is a major historical strategic choice made by the Central Committee of the Communist Party of China with Xi Jinping as the core. It is a grand plan for the millennium and a major national event. In his speech, Vice Chairman Lu Pengqi pointed out that Xiong'an New Area, as a centralized carrier of Beijing's non-capital functions and an important pole of the Beijing-Tianjin-Hebei urban agglomeration, has lofty mission, infinite potential and bright prospects. He stressed that Xiong'an New Area's high-standard construction, high-quality development and grand blueprint cannot be achieved without the gathering of high-end and high-quality resources and elements, and without the construction of a market-oriented, law-based and international business environment. The construction and improvement of diversified dispute resolution mechanisms such as arbitration and mediation are important components of the construction of a high-quality business environment in Xiong'an New Area. He stated that, in January 2019, a relevant document of the Central Government expressly proposed arrangements and requirements, including "supporting the establishment of authoritative international arbitration, certification and appraisal institutions in Xiong'an New Area, and exploring the establishment of a diversified commercial dispute resolution mechanism". As a participating entity, the CCPIT has accepted the relevant parts of the tasks, earnestly implemented the decisions and work requirements of the Central Government, and strived to implement the new measures to serve the development and construction of Xiong'an New Area. CCPIT has actively promoted the establishment of CIETAC Xiong'an Sub-Commission, to provide service and guarantee for its business environment, high-standard construction, high-quality development and high-level opening-up. He held that the establishment of CIETAC Xiong'an Sub-Commission was the beginning of another journey for CIETAC, as it has great responsibilities, a glorious mission and a long way to go. CIETAC shall make full use of its professional and brand advantages, strengthen innovation-driven development, provide international, professional and intelligent dispute resolution services, and enable enterprises to enjoy low-cost, high-efficiency, fair and impartial arbitration services. It is imperative to take the initiative to help enterprises prevent legal risks, and guide enterprises to grasp the diversified dispute resolution mechanism including arbitration. It is imperative to strengthen the connection, cooperation and exchange with people's courts and mediation institutions, to jointly establish an international dispute resolution mechanism, provide Chinese and foreign parties with rich and improved "one-stop" diversified dispute resolution services, and to jointly create a model for high-quality development of Xiong'an New Area in the new era.

(Lu Pengqi, Member of the CPC Group and Vice Chairman of the CCPIT, is giving a speech)

In his speech, Mr. Zhang Guohua warmly congratulated on the establishment of CIETAC Xiong'an Sub-Commission. He said that Xiong 'an New Area has entered an important period of simultaneous promotion of both the undertaking of Beijing's non-capital functions and the large-scale construction. He emphasized that the establishment of a Sub-Commission by CIETAC in Xiong'an New Area was not only an important measure to implement the requirements of the CPC Central Committee and the State Council to support Xiong'an New Area in comprehensively deepening its reform and opening wider to the outside world, but also would introduce CIETAC's strong resources, mature experience in arbitration management, and arbitration rules and practices in line with international standards into Xiong'an New Area, so as to promote the establishment of a diversified dispute resolution mechanism, accelerate the creation of a market-oriented, law-based and international business environment, promote the orderly development of international economic and trade activities, and create a new height for opening-up and a new platform for foreign cooperation. It was also an important support for Xiong'an New Area to take over Beijing's non-capital functions in an orderly manner. He hoped that CIETAC Xiong'an Sub-Commission would actively use its professional strength, strive to provide fair, efficient and convenient international dispute resolution and various services for commercial parties in Xiong'an New Area, constantly accumulate Chinese experience in international arbitration, and build an international brand for Chinese arbitration.

(Zhang Guohua, Member of CPC Standing Committee of Hebei Province, Vice Governor of the Hebei Provincial Government, Secretary of the Party Work Commission and Director of the Management Committee of the Xiong'an New Area)

The Xiong'an International Economic and Trade Arbitration Forum was held after the unveiling ceremony. Mr. Wang Yingmin, Secretary General of CIETAC Xiong'an Sub-Commission, presided over the Forum.

During the Forum, Mr. Wang Chengjie, Vice President and Secretary General of CIETAC, delivered a speech on “giving play to the professional strength of CIETAC, and supporting the development of Xiong'an New Area.” Secretary General Wang said that CIETAC had achieved brilliant results in the arbitration field, accumulated rich experience in the management of arbitration cases, enjoyed a good reputation and won wide recognition at home and abroad for the credibility of its awards. The 2021 International Arbitration Survey, an authoritative report on international arbitration, was released recently, and CIETAC was ranked as one of the five most popular arbitration institutions in the world. This was the first time that an arbitration institution of Mainland China ranked in the top five in the most comprehensive and authoritative survey on global arbitration institutions. Secretary General Wang pointed out that CIETAC's statistics on the number of cases accepted, the dispute amount, the number of countries involved and the length of time for hearing a case showed that CIETAC was at the forefront of major international arbitration institutions in these aspects. CIETAC's arbitration rules balanced internationalization and practicality, and remained advanced. The CIETAC arbitration rules have contributed to the world the oriental experience of "combination of arbitration and mediation", which had been recognized and adopted by major international arbitration institutions. The 2015 Arbitration Rules took the lead to include the latest practices such as multi-contract arbitration, consolidated arbitration, joinder of third parties, and the emergency arbitrator system, which better met the needs of the parties. Finally, Secretary General Wang said that CIETAC's international brand was in line with the idea of "world vision, international standards, Chinese characteristics, and high positioning" of Xiong'an New Area. CIETAC Xiong'an Sub-Commssion would work hand in hand with colleagues, to contribute to the construction and development of Xiong'an New Area.

(Wang Chengjie, Vice Chairman and Secretary General of CIETAC, is giving a speech)

Subsequently, Tao Xiuming, Partner of JunZeJun Law Offices and senior arbitrator of CIETAC, illustrated the relationship between finance and law, the development of China's financial industry in recent years, the latest trends in financial regulation, and the legal risks in the financial market. He said that in recent years, the number of financial cases had increased dramatically. Due to its efficiency, professionality and confidentiality, arbitration had been an ideal way to resolve financial disputes. He further pointed out that arbitration of financial disputes should be accurate in determining the nature of financial transactions, avoid improper re-determination of the nature, and be prudent in penetrating review of the transactions. A good arbitration award would be conducive to the healthy development of the financial market.

(Tao Xiuming, Partner of JunZeJun Law Offices and senior arbitrator of CIETAC, is giving a speech)

Ms. Qin Yuxiu, Former General Counsel of China State Construction Engineering Corporation and senior arbitrator of CIETAC, introduced the construction of major projects in Xiong'an New Area. Combining the characteristics of construction projects and construction contracts as well as disputes over construction projects, Ms. Qin illustrated the advantages of arbitration in resolving disputes over construction projects. She pointed out that the establishment of CIETAC Xiong'an Sub-Commission will take advantage of CIETAC's inherent advantages of professionalism, flexibility and forward-looking, and provide localized services to enterprises in Xiong'an New Area and its surrounding areas.

(Qin Yuxiu, Former General Counsel of China State Construction Engineering Corporation and senior arbitrator of CIETAC, is giving a speech)

Finally, Wang Yingmin, Secretary General of CIETAC Xiong'an Sub-Commission delivered the closing speech to the Forum. He said that CIETAC Xiongan Sub-Commission would conscientiously implement the decisions and arrangements of the Central Committee of the CPC, keep up to responsibilities, take initiatives and deeply participate in the construction of Xiong'an New Area. With support from the CCPIT, the Hebei Provincial Government, the Xiong'an New Area Management Committee and other relevant authorities and entities, CIETAC Xiong'an Sub-Commission would certainly make positive contributions to the establishment of a new mechanism for expansion of opening up and building a new height of reform in Xiong'an New Area.

(Wang Yingmin, Secretary General of CIETAC Xiong’an Sub-Commission, is giving the closing speech)