The 2022 China Arbitration Summit was held in Beijing on Tuesday, inviting professionals to pool wisdom on steering international arbitration toward intelligent and interconnected development.

Themed with "Toward Intelligent & Interconnected International Arbitration," the summit focused on topics such as resolving disputes with the aid of technology, balancing efficiency and justice in arbitration, and enhancing its international credibility. More than 30 global experts and arbitrators gave keynote speeches and shared practical experience and achievements in this regard.

Economic and trade arbitration should follow the trend of digitalization to better serve the global economy and trade and grow more inclusive through international exchanges and mutual-learning, said Ren Hongbin, chairman of the China Council for the Promotion of International Trade (CCPIT).

Amid changes unseen in a century and the pandemic, arbitration still stands as an essential way to dispute resolution, said Wang Shengming, vice chairman of the Supervisory and Judicial Affairs Committee of the National People's Congress. China's law on arbitration should be revised to respect the will of litigants, enhance supervision on arbitrators, and utilize information technology to improve justice and efficiency of arbitration, Wang said.

At the summit, the 2022 Global Arbitrators Initiative of China International Economic and Trade Arbitration (CIETAC) was launched, calling on CIETAC arbitrators from 144 countries and regions to work in solidarity, uphold justice and equity, and bolster innovation-driven development to achieve win-win cooperation. 

About 3.16 million people from 141 countries and regions were in the audience via video link during the one-day summit. 

CIETAC made it into the top-five most preferred seats of arbitration for the first time in 2021, according to the 2021 International Arbitration Survey.

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