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Interpretation on A Draft of the Arbitration Law
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Chinese
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Category：Legislative Updates
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Subject：Legal system
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Keywords：arbitration law; legislation plan
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Source：Pkulaw
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Publish Date：08-05-2021
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On July 30, 2021, the Ministry of Justice drafted the Arbitration Law of the People's Republic of China (Revision) (Exposure Draft), and comments may be submitted until July 16, 2021.
First, the Draft adds expressions such as “facilitating international economic interaction” and “arbitration in good faith” to further improve the general provisions. Second, the system of arbitration institutions is improved. The Draft makes further adjustments for regulating the establishment and registration of arbitration institutions. Third, the regulations on disclosure system and arbitrator avoidance are improved. A validity system of arbitration agreements with declaration of will at its core is established. Fourth, expressions like “due process” is added to further standardize arbitration process. Fifth, the Draft improves the provisions on revocation of arbitral awards and re-arbitration by unifying the provisions on the revocation of domestic and foreign-related arbitral awards by courts. Sixth, an enforcement system of arbitral awards is improved. Revocation process is regarded as a general principle of judicial supervision over arbitral awards. Seventh, the Draft adds temporary systems to promote the application of foreign-related arbitration provisions.
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