The Fourth Singapore - China International Commercial Dispute Resolution Conference Panel 1 Remark

On the afternoon of November 27th, the 4th Singapore-China International Commercial Dispute Resolution Conference Panel 1 discussion was chaired by  LEE Bik Wei, Partner of Allen & Gledhill LLP.  Panellists engaged in discussions on how to provide enterprises with efficient, flexible, independent and impartial legal services such as arbitration and mediation through international cooperation.

CAI Chenfeng, Director-general of Commercial Legal Service Center of CCPIT, stated that under the background of globalization, “stay local, and you might miss the boat” has become a widely accepted consensus among enterprises. She expressed that in the future, the cooperation between legal institutions in Singapore and China will continue to be deepened to help enterprises effectively preventing and resolving disputes.

Connie HENG, Managing Partner in Asia Pacific Regional of Clifford Chance, shared her rich experience in cross-border transactions. She highlighted the key considerations in contract drafting and dispute resolution when companies expand globally, as well as the differences in attention between Chinese and foreign companies.

ZHANG Xiulin, Professor-level Senior Economist of SINOPEC Service, pointed out that it is essential to consider both efficiency and economic costs when selecting dispute resolution methods. In practice, negotiation and mediation frequently emerge as preferred choices. The core objective of the law has always been to support enterprises to "go global" and help them achieve sustainable development in the global market.

HEW Kian Heong, Head of Rajah & Tann Singapore LLP Shenzhen Representative Office, stated that Chinese enterprises have shifted their approach to handling commercial disputes after "going global" from early strategies of delay to increasing emphasis on negotiation and arbitration. He noted that Singapore has unique advantages in cross-border dispute resolution and is an ideal choice for Chinese enterprises in dealing with international disputes.