news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

arbitration is an internationally accepted way to resolve commercial disputes, and its important role in serving the high-quality development of the economy and society is becoming increasingly prominent. the supreme people's court today released the 2023 annual report on judicial review of commercial arbitration. in 2023, courts across the country concluded more than 16,000 cases of judicial review of commercial arbitration. among them, more than 3,800 cases of application for confirmation of the validity of arbitration agreements, more than 10,800 cases of application for revocation of arbitration awards, 75 cases of application for recognition (recognition) and enforcement of foreign arbitration awards, and more than 1,700 cases of application for non-enforcement of arbitration awards. courts across the country also concluded more than 5,100 arbitration preservation cases.

the judicial review cases of arbitration throughout the year showed the following characteristics:

the supreme people's court clarified the review standards by handling the cases reported for review. in 2023, the fourth civil tribunal of the supreme people's court handled a total of 29 arbitration judicial review cases, of which 18 agreed to the handling opinions submitted to the court, 7 disagreed with the handling opinions submitted to the court, and 4 were returned for additional fact-finding. in the case where the applicant li and the respondent chen applied to revoke the arbitration award, the supreme people's court held that the arbitration award supported the exchange between virtual currency and legal currency in disguise, violated my country's financial regulatory policies on prohibiting virtual currency investment and trading activities, and constituted a statutory reason for revoking the arbitration award that violated the public interest, and agreed to the lower court's request to revoke the arbitration award.