By Ariel Ye Monique Carroll and Li Li King and Wood Mallesons’ Dispute Resolution Group
Historically, Chinese parties were able to avoid, to a large extent, the consequences of adverse awards made against them by international tribunals. This was primarily because Chinese courts were reluctant to enforce foreign arbitral awards against Chinese parties. In recent years, however, the Chinese Government has made significant advances in supporting domestic and international arbitration, in particular, in respect of the enforcement of foreign arbitral awards. Now international arbitration is a reality for Chinese entities doing business with foreign entities. This is reflected by the significant increase in the number of Chinese parties involved in international arbitration, however, there is also an alarming percentage of Chinese parties being unsuccessful in international arbitration. We believe the success rate of Chinese parties in international arbitration can be improved, by addressing a number of key issues set out below.
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