Publish time: Mon Dec 18 16:11:31 CST 2017 Contributor:Wang Ruihua
The “New Finance, New Arbitration – Joining Hands in Leading Edges” International Arbitration Forum, sponsored by Allbright Law Offices and supported by Beijing Arbitration Commission/Beijing International Arbitration Center (hereinafter referred to as “BAC/BIAC”) and other more than 10 legal profession communities, was successfully held at Shanghai International Convention Center on November 16th, 2017. More than 200 participants including lawyer, arbitration practitioner and in-house counsel in the fields of Finance, Internet and Arbitration attended to the event. Mr. Lin Zhiwei, Secretary General of the BAC/BIAC, Mr. Zhang Haoliang, Divison Chief of Dept. III, and Ms. Wang Ruihua, Senior Knowledge Manager of the BAC/BIAC attend the forum, make speeches and participate in discussions.
As financial innovations and technology develop rapidly, traditional financial services keep performing digitalized and intelligent transformation and upgrading; financial transactions and the development of relevant financial products are increasingly complicated, and new controversies including Internet finance keep appearing. The increasing new financial arbitration cases have their distinct features as well. Mr. Lin Zhiwei delivered a keynote speech named “Beijing Financial Arbitration: Latest Developments and Thoughts”. After sharing the latest practices of BAC/BIAC for dealing with financial arbitration cases, he reviewed the advantages of selecting arbitration as a way for financial dispute settlement and reevaluated the significance of developing financial arbitration with the participants based on the aspects such as respecting transaction practices, emphasizing commercial pursuits, professional connection, convenience for management, strong anticipation, confidentiality and being easy to execute. According to him, the development of financial arbitration cannot only support financial innovations effectively, facilitate financial practitioners to obtain the right of defining and interpreting financial rules, help financial regulators promote favorable financial values, explore policies and systems suitable for the development of the financial industry but also keep enhancing financial environments and reputation.
Mr. Lin Zhiwei Delivers a Keynote Speech
The participants displayed their constant enthusiasm when discussing the selection of ways including financial arbitration for financial dispute settlement. In the first sub-forum, “Finance and Arbitration – Particularity of Industrial Dispute Settlement”, Mr. Zhang Haoliang expressed that the BAC/BIAC hopes to enhance communication with all financial practitioners, explore the actual needs of financial institutions and parties involved in financial disputes so as to provide arbitration services truly satisfying market demands. Based on the BAC/BIAC’s experiences of dealing with financial disputes, he shared an example of enforcing an emergency arbitrator’s interim measure in Hong Kong under the auspices of BAC/BIAC’s arbitration rules. By quoting the practice that some provisional measures, made by BAC/BIAC, were executed by a Hong Kong Court, he emphasized that it will take perseverance and willpower for arbitration institutions to support implementable innovations conforming to development trends and all arbitration institutions shall assume their social responsibility to promote the joint development of legal profession communities by enhancing cooperation with all industries.
Mr. Zhang Haoliang (second on the left) Participates in the First Sub-forum
Under the BAC/BIAC background of “Internet +”, arbitration and the applications of Internet technology have subtle relations as well. Using Internet as a tool to serve arbitrations, or using “Internet +” views to reflect on the development of commercial arbitrations have been topics of the arbitration industry. In the second sub-forum “Impacts of Internet Development on Arbitrations”, Ms. Wang Ruihua, a Senior Knowledge Manager of the BAC/BIAC, briefly introduced the BAC/BIAC’s practical research findings on online arbitration development. In addition, she shared the attempts and efforts, made by the BAC/BIAC, for providing comprehensive information supports for arbitrators, parties involved, agents and arbitration institution personnel, enhancing arbitration efficiency, promoting arbitration service experience, and supporting arbitration research working method innovations by actively utilizing Internet technology and information platforms based on the impacts of the Internet on the new features and types of cases in relevant institutions, the demands of parties involved for the convenience and information of arbitration services, transparency of arbitration procedures, synchronization requirements of information transfer, and the informatization needs for arbitration research and knowledge management methods and measures. She also stressed that arbitration institutions shall strictly follow the features of commercial arbitration development and utilize science and technical measures to enhance arbitration service quality, win social credibility and keep improving arbitral credibility for exploring innovations and performing diversified development.
Ms. Wang Ruihua (first on the right) participates in the 2nd sub-forum
In addition, Mr. Peng Lisong, an arbitrator of the BAC/BIAC and Partner of Allbright Law Offices, presided over the third sub-forum “Different Functions and Roles – Orientation and Operation of Parties Involved in Arbitrations”. When summarizing the guests’ opinions and views on “different functions and roles”, Mr. Peng Lisong pointed out that, at present, arbitrations develop rapidly; all parties involved shall pay attention to the nature of arbitration when fulfilling their “different functions and roles” to explore innovative development of arbitrations, spare no efforts to explore innovations conforming to the development features of commercial arbitrations and market rules under legal frameworks, and participate in international market competitions by joining hands with legal profession communities or arbitration communities so as to make Chinese arbitration cause better and stronger.
Mr. Peng Lisong (fourth on the left) presides over the 3rd sub-forum
It is worth mentioning that Mr. Lin Zhiwei interviewed by the sponsor after making his keynote speech to express his opinions on the issues such as the future development direction of the BAC/BIAC, online arbitration development and the training of arbitration talents.
The whole journey of the forum was published by relevant online medias in live. More than 300,000 netizens shared the highlights of the forums on the Internet and made relevant comments and views. Mr. Zhang Haoliang, received the interview by the presenter of a live streaming platform to make online communication with many netizens.
Mr. Lin Zhiwei receives the interview
Mr. Zhang Haoliang Communicates with Netizens
Finally, the “New Finance, New Arbitration – Joining Hands in Leading Edges” International Arbitration Forum was completed in warm applauses. You can find more information about the forum through the live streaming platform（ http://zhibo.ifeng.com/video.html?liveid=112111）
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