HONG KONG - Secretary for Justice Paul Lam Ting-kwok stressed on Sunday Hong Kong’s unique strengths as a leading international arbitration hub, adding that the city’s comprehensive legal framework and institutional support make it one of the best venues for global commercial arbitration.

Lam said arbitral awards made in the Hong Kong Special Administrative Region are enforceable in the territory and in over 170 contracting parties to the New York Convention on international arbitration.

Lam noted that the SAR is home to many world-class and internationally renowned arbitral institutions, including the Hong Kong International Arbitration Centre, which received a total of 281 arbitration filings from 45 jurisdictions in 2023

“But more importantly, Hong Kong enjoys a unique strength that is not shared by other jurisdictions,” Lam said in a speech at the 26th International Council for Commercial Arbitration Congress opening ceremony.

He said that under the principle of "one country, two systems", the SAR has inked three mutual legal assistance arrangements with the Chinese mainland not only on the mutual enforcement of arbitral awards, but also on mutual assistance in interim measures that allow parties to apply to the mainland courts for "preservation of asset, evidence and conduct before an arbitral award is made.”

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As of March 2024, the HKSAR's arbitral institutions had processed 118 applications for interim measures made to the mainland courts, and court orders involving assets worth over 16.3 billion yuan ($2.26 billion) had been issued.

Lam noted that the SAR is home to many world-class and internationally renowned arbitral institutions, including the Hong Kong International Arbitration Centre, which received a total of 281 arbitration filings from 45 jurisdictions in 2023.  

“The total amount in dispute in all arbitration cases was HK$92.8 billion, which is equivalent to about $12.5 billion, representing a record high for HKIAC,” Lam said.

“As our home-grown dispute resolution institution, HKIAC has always been ranked as one of the most-preferred arbitral institutions in the world.”

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Lam also said that the Hong Kong judiciary has “long been adopting a very pro-arbitration approach”, as confirmed by a number of recent court judgments.

And under the HKSAR government’s Pilot Scheme on Facilitation for Persons Participating in Arbitral Proceedings in Hong Kong, arbitrators, expert and factual witnesses, counsels, and parties can participate in arbitrations in the city without the need to obtain any employment visa, he added.