A Uniform, Internationally Oriented Legal Framework for the Recognition and Enforcement of Foreign Arbitral Awards in Mainland China, Hong Kong and Taiwan?
José Alejandro Carballo Leyda
- UNCITRAL Model Law — Recognition and enforcement — Stay of enforcement
The growth in commercial transactions with Mainland China, Hong Kong Special Administrative Region and the Taiwan region (Taiwan) as well as the economic integration in the entire area have lead to an increase in disputes. Considering the importance of arbitration as a mechanism for resolving commercial disputes in the area, the paper discusses whether a substantial ‘clash’ between their legal frameworks for the recognition and enforcement of foreign arbitral awards can be observed. After a critical analysis, the paper concludes that these frameworks are either subject to or modelled on the New York Convention. Yet, each has a distinct approach to the implementation, and dissimilarities arise. Furthermore, the specific legal framework for the recognition and enforcement of Mainland China awards in Hong Kong and Taiwan, and vice versa, still raises some concerns and is not fully reliable.