The China International Economic and Trade Arbitration Commission (CIETAC) is the most important permanent arbitration institution in China. Formerly known as the Foreign Trade Arbitration Commission, the CIETAC was set up in April 1956 under the China Council for the Promotion of International Trade (CCPIT). To meet the needs of the continuing development of China's economic and trade relations with foreign countries after the adoption of the "reform and opening-up" policy, the Foreign Trade Arbitration Commission was renamed as the Foreign Economic and Trade Arbitration Commission in 1980, and then finally settled down as the China International Economic and Trade Arbitration Commission in 1988. Since 2000, the CIETAC is also known as the Arbitration Court of the China Chamber of International Commerce (CCOIC).
The CIETAC independently and impartially resolves economic and trade disputes by means of arbitration and conciliation (mediation).
The CIETAC's headquarters is located in Beijing with two sub-commissions in Shanghai and Shenzhen, respectively known as the CIETAC Shanghai Sub-Commission and the CIETAC South China Sub-Commission. In order to meet the needs of the development of the arbitration practices, the CIETAC also successively established 19 liaison offices in different regions and specific business sectors to provide parties with handy arbitration advice.
After nearly 50 years? continuous endeavor, the CIETAC is now one of the busiest arbitration centers in the world. With its arbitration practices and academic activities, the CIETAC has also made great contributions to the legislation of the Chinese arbitration law and the development of the arbitration practice in China. Not only does CIETAC maintain positive relations and cooperation with all the major arbitration institutions throughout the world, it also upholds a respectable reputation at home and abroad for its independence, impartiality and efficiency. |