BEIJING - China has emerged as a preferred destination for international commercial arbitration, Minister of Justice He Rong said on Monday, citing a surge in cases over the past five years.

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More than 16,000 foreign-related arbitration cases, with claims totaling 730 billion yuan (about $102.8 billion), have been handled during that period, He told a press conference.

In 2024 alone, more than 4,400 such cases were accepted, involving nearly 200 billion yuan, up 100 percent and 136 percent respectively from 2020.