Challenges and Countermeasures in Carrying out International Commercial Friendly Arbitration in China’s Free Trade Zones

Abstract

In the context of globalization and regional economic integration, China's free trade zones, as the forefront of reform and opening up, bear the important mission of promoting the liberalization and facilitation of international trade and investment. With the increase in international commercial activities, the implementation of friendly arbitration as an efficient and flexible dispute resolution mechanism in free trade zones has become particularly important. However, China's free trade zones face a series of problems when conducting friendly international commercial arbitration, including unclear application of law, limited selection of arbitrators, and difficulty in cross-border enforcement. Through in-depth analysis of the current situation and challenges of international commercial friendly arbitration in China's free trade zones, a series of innovative solutions are proposed. First of all, it is recommended to improve relevant laws and regulations, clarify the legal status and scope of application of friendly international commercial arbitration, and provide a solid legal foundation for friendly arbitration. Secondly, it is proposed that the roster of arbitrators should be expanded to absorb more arbitration talents with international vision and professional background to improve the professionalism and credibility of arbitration. Thirdly, in order to solve the problem of cross-border enforcement, it is advocated to strengthen judicial assistance and cooperation with other countries and regions and establish a more efficient mechanism for the recognition and enforcement of international commercial arbitration awards.