Foreign mediators play crucial role in dispute resolution

Trade contributor

With numerous tech innovation enterprises and significant market potential, Zhejiang is adopting an open stance toward foreign investors and business people to promote its high-level opening-up and high-quality economic development.

Adhering to the principle of equal protection for both domestic and foreign parties, courts across the province are striving to establish themselves as the preferred venues for resolving international commercial and maritime disputes. These efforts are also helping showcase China as a nation governed by the rule of law in the handling of every case, according to the Zhejiang High People's Court.

In 2024, the provincial courts concluded 4,463 foreign-related commercial and maritime cases involving 117 countries and regions. Over 70 foreign parties voluntarily chose Zhejiang courts to resolve their disputes. "The trust from those foreign litigants was a vote of confidence in our business environment," the high court added.

Chen said foreign mediators contribute to the optimizing of the province's judicial services and the strengthening of its high-level openness to the world.

"Yiwu has become increasingly attractive to foreign merchants. Despite the pandemic, the number of foreigners coming here to do business has not decreased, but rather increased," he added.

Khadka said that many of his friends, whether back home or engaged in trade in other countries, are also keen to seek business opportunities in Yiwu, drawn by its open market and efficient legal services.