China's 1st maritime arbitration center outside mainland set up in HK   

中国海事仲裁委员会在香港设立首个境外仲裁中心

Hong Kong (CNS) – The China Maritime Arbitration Commission (CMAC) Wednesday set up its first arbitration center outside the mainland in Hong Kong.

It is the second arbitration center commissioned by the Chinese mainland in the city. The first was launched by the China Council for the Promotion of International Trade in 2012.

The new center will provide legal services involving maritime arbitration to domestic and overseas companies.

Rimsky Yuen Kwok-keung, Secretary for Justice of Hong Kong, said the center will help promote the city as a major international center for dispute resolution in the Asia-Pacific region.

He added that the HKSAR government will encourage mainland maritime enterprises to use the center for ship financing, maritime insurance and maritime arbitration.

Yu Jianlong, deputy director of the CMAC, said the HK center will bring more opportunities for the commission's development.

Established in 1959 in Beijing, the CMAC focuses on resolving maritime disputes by means of arbitration. It has sub-commissions in Shanghai, Tianjin and Chongqing.