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China News Service, Hong Kong, November 27. The Supreme People’s Court and the Department of Justice of the Government of the Hong Kong Special Administrative Region (Hong Kong SAR) signed the “Supplementary Agreement on Mutual Enforcement of Arbitration Awards between the Mainland and the Hong Kong Special Administrative Region” in Shenzhen on 27 (hereinafter the “Supplementary Agreement” “). The Secretary of Justice of the Hong Kong Special Administrative Region Government, Zheng Ruohua, said that the” Supplemental Agreement “, along with other areas of assistance agreements mutual legal status between the two places, will help further deepen cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area, promote deep integration in the region, and promote coordinated regional economic development.
The Agreement on Mutual Enforcement of Arbitration Awards between the Mainland and the Hong Kong Special Administrative Region (hereinafter the Agreement) was implemented in 2000 and has played an important role in supporting the development of arbitration in Hong Kong. The “Supplementary Agreement” signed on the 27th is a legal document reached by the Supreme People’s Court and the Department of Justice of the Government of the Hong Kong Special Administrative Region in accordance with the provisions of the Basic Law of the Hong Kong Special Administrative Region. Hong Kong of the People’s Republic of China on mutual assistance in the field of arbitration.
Zheng Ruohua stated that the purpose of signing the “Supplementary Agreement” is to make four amendments to the “Agreement”, three of which are to optimize the provisions of the “Agreement” with language and practices familiar to the international community so that the ” Arrangement “can be written and practiced. The foregoing is more fully consistent with current international practice; Another amendment responds to the provisions of Article 2.3 of the Agreement, which prohibits the parties to the arbitration from simultaneously requesting enforcement of the same arbitration award in mainland China and in the Hong Kong Special Administrative Region. The Department of Justice and the Supreme People’s Court agreed to waive this restriction to further facilitate the parties’ enforcement of the arbitration award.
Zheng Ruohua noted that the “Supplementary Agreement” has improved the functioning of the “Agreement” by providing a simple and effective mechanism for the mutual enforcement of arbitration awards between mainland China and Hong Kong, and further promoting judicial cooperation between the two parties in civil and commercial law.
She believes that with the gradual implementation of various development plans in the Greater Bay Area and the promotion of dispute resolution services in the Greater Bay Area, I believe that arbitration and other dispute resolution services will be used. more broadly in disputes in the Greater Bay Area. In the matter. The “Supplementary Agreement” can further clarify and improve the implementation arrangements for arbitration awards between the Hong Kong Special Administrative Region and mainland China, and also allows the rights and interests of the arbitration parties to resolve disputes through arbitration. are more fully protected. (End up)Return to Sohu to see more
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