FTZ sets up arbitration court

An arbitration court was established in the Shanghai Free Trade Zone on Tuesday to offer legal services and settle commercial disputes for enterprises in the pilot area.

The court was set up by the Shanghai International Economy and Trade Arbitration Commission, also known as Shanghai International Arbitration Center, as an important component of the legal system in the FTZ.

The commission comprises 625 arbitrators in its panel, including 199, or nearly one-third, from Hong Kong, Macao, Taiwan and foreign countries. It is the most internationalized panel in the country.

The commission has dealt with more than 2,500 cases over the last five years, 27 percent of which involved a foreign party, with a total disputed amount of 20.6 billion yuan ($3.38 billion). It is also the first choice for most of the subsidiaries of Global 500 companies in Shanghai.

The FTZ court operates in Waigaoqiao Plaza, which is located at 6 Jilong Road, Pudong area.