Editor's Note: The Second Seminar of the International Commercial Expert Committee of the Supreme People's Court and Appointment of New Members of the International Commercial Expert Committee was held successfully on December 8, 2020. The theme of this seminar is the Latest Developments of International Commercial Dispute Resolution Mechanism and the Research on Relevant Issues on International Law. The participants, on site or virtually, had discussions on the two topics, the Development of International Commercial Dispute Resolution Mechanism: New Situation and New Challenges and the Research and Application of International Law Related Issues in the Post-Pandemic Era, respectively. The texts of speech delievered by Justice Steven Chong as the representative of the new committee member is hereby posted on the CICC's website for the public's reference.

THE RISE, ROLE AND IMPORTANCE OF INTERNATIONAL COMMERCIAL COURTS

Justice Steven Chong

Supreme Court of the Republic of Singapore

Chief Justice Zhou Qiang, President of the Supreme People’s Court of the People’s Republic of China, Judges and officials from the Supreme People’s Court of the People’s Republic of China, Members of the International Commercial Expert Committee, and distinguished guests,

I am honoured to accept this appointment as an expert member of the International Commercial Expert Committee of the Supreme People’s Court of the People’s Republic of China, or the “ICEC” for short. The ICEC was established to enhance international exchange and cooperation, particularly in relation to the resolution of international commercial disputes. It has a broad representation of eminent jurists from all around the world, and I am delighted to contribute to this important initiative. 

The establishment of the ICEC is very timely indeed. It is situated against an international backdrop where global economies and cultures are more connected than ever before. The Belt and Road Initiative, for example, promises to generate massive trade and growth across a large number of economies in Asia, Europe and Africa. With an increase in international trade, we can expect a corresponding increase in cross-border commercial disputes. 

Even though the COVID-19 pandemic has led to a short-term decline in international trade and investment, this is just a temporary blip in the grand scheme of things. In addition, we will likely see an increase in cross-border commercial disputes and legal issues following the fallout from the pandemic. These will include issues relating to insolvency and bankruptcy, infrastructure-related disputes, breaches of commercial contracts, and so on. 

In other words, the demand for international commercial dispute resolution has increased exponentially in recent years, and the demand will only continue to grow in the years to come. 

In response to this, we have already seen the recent establishment of international commercial courts all around the world. These include the China International Commercial Court, the Singapore International Commercial Court, various international commercial courts in the Middle East, and so on. These international commercial courts generally deal with matters where one or both parties are from different jurisdictions. They cater to cross-border commercial disputes that may not have any direct connection with the geographic location of the commercial court in question. Their hearings are conducted by specialist commercial Judges, and they often also have special rules and procedures.

Of course, not every international commercial court is designed in the same way. In some courts, emphasis is placed on having diverse panels of international jurists who hear cases in the court. This is the case, for example, in the Singapore International Commercial Court where, in addition to specialist commercial Judges from Singapore, we also have 17 International Judges hailing from 8 different countries. These International Judges have contributed significantly not just in the adjudication, but also in providing advice and suggestions on relevant judicial policies and processes. For example, one of the major initiatives undertaken by the Singapore International Commercial Court was to develop a body of procedural rules that incorporates international best practices from a variety of dispute resolution mechanisms and legal traditions. Our International Judges provide a rich variety of perspectives and advice in developing these rules. 

In other international commercial courts, such as the China International Commercial Court, cases are heard exclusively by specialist commercial Judges from within the jurisdiction. At the same time, the Supreme People’s Court established the ICEC, which provides a vital international dimension to the expertise and resources available to the China International Commercial Court. Amongst other things, members of the ICEC may mediate cases, provide advisory opinions on specific legal issues in international commercial disputes, and also give advice on judicial interpretations and policies formulated by the Supreme People’s Court. This is an excellent development that will go a long way towards enhancing the resolution of international commercial disputes. It will also be of particular importance in advancing the legal infrastructure supporting the Belt and Road Initiative.  

Once again, it is my pleasure and privilege to be appointed to the ICEC. I look forward to contributing further and learning from the Judges of the China International Commercial Court and other members of the ICEC. 

Thank you very much. 

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*The original text is Chinese and has been translated into English for reference only. If there is any inconsistency or ambiguity between the Chinese version and the English version, the Chinese version shall prevail.