Beijing Arbitration Commission

On the afternoon of December 26 2019, the Beijing Arbitration Commission / Beijing International Arbitration Center (the “BAC”) and the Asset Management Association of China (the “AMAC”) signed a Strategic Cooperation Framework Agreement in Beijing. Dr. Chen Fuyong, Deputy Secretary General of the BAC, and Ms. Yang Yufei, Counsel of the BAC Business Development (International Case) Division, attended the signing ceremony.

The signing ceremony was moderated by Mr. Hu Jiafu, Vice President of AMAC. Mr. Hong Lei, Vice President of AMAC, introduced the status quo and current achievements of the AMAC, and future prospects thereof. Mr. Hong said that in light that the Fourth Plenary Session of the 19th CPC Central Committee stressed to strengthen fundamental system building of the capital market, improve the modern financial system with high adaptability, competitiveness and inclusion, and effectively resolve financial risks, the AMAC looks forward to a full cooperation with the BAC, and thereby contribute to the construction and improvement of the capital market.

Dr. Chen Fuyong introduced the BAC’s status quo in the sector of financial dispute resolution, shared the outcomes of the BAC’s research on cutting-edge issues of the financial industry, and pointed out that as an alternative dispute resolution means, arbitration has advantages that can well fit the industrial features of securities investment funds. The principles of independence, impartiality, professionalism and efficiency the BAC has always stuck to also well match the securities investment funds industry’s principles of compliance, good faith, professionalism and steadiness. Dr. Chen expressed his expectation for the cooperation between the two parties, and said that the BAC is willing to have smooth communication with the AMAC, strengthen the cooperation with the AMAC, and jointly promote the healthy and stable development of the industry.

Dr. Chen Fuyong and Mr. Hong Lei signed the Strategic Cooperation Framework Agreement on behalf of the BAC and the AMAC, respectively. According to the Agreement, both parties will jointly build cooperative mechanisms of commercial arbitration and mediation, promote the marketing and exchanges of diversified dispute resolution within the securities investment funds industry and the researches on diversified dispute resolution within the funds industry based on joint industrial trainings. Such close cooperation aim to explore how to strengthen the researches on dispute resolution within the securities investment funds industry, so as to jointly promote the industrial development in line with the requirements of compliance, good faith, professionalism and steadiness.

Taking the Strategic Cooperation Framework Agreement as an opportunity, the BAC and the AMAC will fully play the advantages on resources, expertise and human power within their respective areas, fully promote arbitration and mediation to resolve industrial disputes under the background of new regulatory system, financial risks and financial product innovation, help with the healthy development of the securities investment funds industry, and jointly promote the construction and improvement of modern financial system.