Hong Kong launches 1-month consultation on arbitration law reforms

Hong Kong authorities have launched a one-month consultation to reform the city’s arbitration laws, as part of efforts to enhance its competitiveness as an international dispute resolution hub and advance an objective laid out in its first local five-year plan.

The Department of Justice said on Monday that the one-month stakeholder consultation for amendments to the Arbitration Ordinance, which governs the use of the alternative dispute resolution mechanism, would cover four key areas to enhance the existing framework.

“Ultimately, these enhancements will attract more businesses to choose Hong Kong as their seat of arbitration and enable them to benefit from our enhanced arbitration legislative framework that keeps pace with the times, and our internationally recognised arbitration services,” a spokesman said.

Under Hong Kong’s first five-year plan, announced earlier this month, one of the key themes is strengthening the city’s position as a centre for finance, trade, maritime, aviation, and innovation and technology and as a talent hub.