A Study on the China International Economic and Trade Arbitration Commission(CIETAC) Arbitration Rules

중국국제경제무역중재위원회(CIETAC)의 중재규칙에 관한 연구

As globalisation extends its effect and particularly following China's accession to the World Trade Organization(WTO) in 2001, ever greater numbers of international transactions will feature a Chinese party. China has certainly made efforts in recent years to rectify law problem. While conducting business in China, foreign companies occasionally find themselves embroiled in disputes with Chinese individuals and companies. As foreign businesses invest in the extraordinary market opportunities in China, international arbitration has also become the preferred method for handling disputes with Chinese partners or with other foreign corporation over operations in China. The new Arbitration Rules of the International Economic and Trade Arbitration Commission(CIETAC) came into force on 1 May 2005. The new rules represent a major overhaul of CIETAC arbitration procedures and are sure to enhance CIETAC's position as a leading player in the resolution of China-foreign business disputes. The changes are significant for all companies doing business in China. So, this article investigated some amendments on the basis of 2000 Rules.