1. 1
  2. 2
Home / News

Zhoushan rolls out arbitration services to optimize business environment

Updated : 2024-03-26 (

Zhoushan in Zhejiang province has been actively enhancing its arbitration services in recent years, aiming to improve its legal and business environment.

In 2023, Zhoushan managed a total of 1,342 civil and commercial cases, with 1,235 being online cases, representing a significant 62.7 percent year-on-year increase.

The total amount in dispute for the year reached 528 million yuan ($73.14 million), marking a substantial 106.5 percent increase compared to the previous year. The withdrawal rate stood at 48 percent, the automatic enforcement rate at 75 percent, and the rapid settlement rate achieved at an impressive 98 percent.

Arbitration serves not only to resolve disputes but also to foster cooperation. Compared to traditional court litigation, commercial arbitration offers distinct advantages, including convenient filing, flexible procedures, and protection of commercial information. It has become a globally recognized method for resolving economic disputes, as highlighted by a representative from the Zhoushan bureau of justice.

In strategic projects involving state investments, such as the green petrochemical base and the oil and gas trading center, authorities are proactively including arbitration clauses in major project construction contracts to safeguard state-owned assets.

Zhoushan has also introduced an intelligent arbitration service application system, which facilitates seamless online and in-person collaboration for arbitration. This not only reduces the burden on involved parties but also improves the efficiency and quality of arbitrator rulings, thereby enhancing the credibility of arbitration proceedings.

In addition, authorities are planning to establish a specialized international arbitration institution within the Zhejiang (Zhoushan) Free Trade Zone. This institution will focus on resolving trade and maritime disputes related to bulk commodities, the financial industry, investment, and financing.