ADR and Arbitration of International Financial Disputes in Shanghai

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Date(s) - 02/05/2016
10.15 - 12.00

Porthania, University of Helsinki

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The Finnish Center of Chinese Law and Chinese Legal Culture warmly welcomes you to participate in its guest lectures series. The next lecture will be given by Shen Wei, Professor at Shanghai Jiao Tong University Law School.

Monday, 2 May 2016, 10:00-12:00

Faculty of Law, University of Helsinki

Porthania (Yliopistonkatu 3), 5th floor, room P545


ADR and Arbitration of International Financial Disputes in Shanghai

Professor Shen Wei

The talk brings some details to the audience about the latest developments of international commercial arbitration in China. The talk also covers Shanghai’s plan to turn itself to be a global financial center. Part of this strategy is to build up dispute resolutions platforms for financial disputes. Resolving financial disputes through alternative dispute resolutions (ADRs) adheres to the trend of diversifying and improving the efficiency of the dispute settlement mechanisms. However, when it comes to Shanghai, it has been disappointing to note the following: (a) the third party mediation mechanism has caused a great deal of waste of resources due to the low utility of existing facilities and institutions, (b) judicial confirmation of the mediation agreement could distort some basic norms in mediation law such as voluntariness and party autonomy, (c) judicial confirmation of the mediation agreement does not have a strong legal basis according to the civil procedure law and arbitration law. These phenomena indicates a mismatch with the basic principle of supply and demand. This talk tries to unveil the reasons of these phenomena.

Special Oriental Scholar Professor of Law, Shanghai Jiao Tong University Law School; PhD (London School of Economics and Political Science), LLM (University of Cambridge); Attorney-at-Law, New York, FHKI Arb. Professor Shen is now teaching international investment law, company law, international economic law and contact law in the law school. Professor Shen’s current research interests include international investment law, corporate governance, financial regulations, and international commercial arbitration.