China's Supreme People's Court (SPC) will launch two international commercial courts this month, a senior SPC official said Thursday.
The courts will to be set up in Shenzhen, Guangdong Province and Xi'an, Shaanxi Province, Liu Guixiang, a member of the SPC Judicial Committee, said at a press conference on the introduction of a new international commercial disputes resolution mechanism and instituions.
A high-level document on the arrangements to promote international commercial cooperation within the Belt and Road Initiative was released Wednesday.
It also called for the establishment of an International Commercial Expert Committee (ICEC).
Members of ICEC should come from different legal systems and jurisdictions, said Zhang Yongjiang, director of the SPC's No. 4 Civil Adjudication Tribunal, adding that they may provide consultation and mediation services upon the approval of relevant parties.
The SPC is currently drafting the standards and procedures for selecting the members as well as clarifying the operational mechanisms of the ICEC, according to Zhang.
The new mechanism and instituions will not conflict with the existing ones, but will offer more options, said Liu.
