Hainan Arbitration Association inaugurated

The justice department of South China's Hainan province unveiled the arbitration association of the province and held a symposium on the preparatory work for the implementation of the arbitration system.

Wang Lei, director and Party secretary of the Justice Department of Hainan, and Hu Chuncheng, a member of the adjudication committee of the Hainan High People's Court, addressed the inauguration ceremony and jointly unveiled the plaque for the Hainan Arbitration Association.

Wang pointed out that the Hainan Arbitration Association, as a self-regulatory organization for the local arbitration industry, should fully leverage its role as an industry leader, focus on building the arbitration brand, continuously strengthen the internationalization level and capacity of its arbitration services, and deepen international exchanges and cooperation.

Furthermore, the association should fulfill its guiding role in the industry, constantly improve the arbitration system, and create an arbitration-friendly and law-based environment, according to Wang. With the goal of fostering a first-class business environment in the country by 2025, Hainan should take the establishment of the arbitration association as a new starting point to build itself into a highland of international commercial arbitration featuring profound credibility and international influence, he noted.