Source: Hong Kong Government special administrative region
The Hong Kong Special Administrative Region (HKSAR) Government today (May 28) said that it welcomes and supports the Judiciary’s announcement on the establishment of the Hong Kong International Commercial Court (HKICC), which will specialise in adjudicating major cross-border and international commercial disputes, marking a new milestone in the development of Hong Kong’s legal system.
The Chief Executive, Mr John Lee, said, “The National 15th Five-Year Plan explicitly outlines the initiatives of accelerating the development of the system and capacity for the rule of law in foreign affairs, improving mechanisms for international commercial mediation, arbitration, and litigation, and supporting Hong Kong to consolidate and enhance its status as an international financial, shipping, and trade centre and an international aviation hub, as well as deepening its development as an international legal and dispute resolution services centre. The HKSAR is the only common law jurisdiction in the country. Hong Kong’s commercial and trade laws based on common law are internationally compatible, and well trusted by international businesses or investors. The establishment of the HKICC fully demonstrates Hong Kong’s unique advantages under ‘one country, two systems’ of enjoying strong support of the motherland and being closely connected to the world. It will contribute new and greater strength to the country’s high-level opening up, while further promoting the development of international commercial rules.”