The Singapore International Arbitration Centre (SIAC) has witnessed a recent increase in the number of cases involving Chinese parties being filed at the centre.
In the past three years, the number of cases that have involved Chinese parties has grown dramatically, and according to the SIAC’ own statistics, the data can be tracked as follows:
In 2011, the total sum in dispute in cases involving Chinese parties was S$106.5 million (US$85.3 million), while in 2012 this amount grew to S$416 million. Similarly, the average sum in dispute for cases involving Chinese parties was S$4.63 million in 2011 and S$8 million in 2012. The highest sums in dispute were S$20 million and S$114 million, respectively, for 2011 and 2012.
Cases involving Chinese parties included disputes from varying sectors and industries including international trade, commercial agreements, corporate joint venture disputes and shipping. The pie chart demonstrates that the trade sector dominated in disputes involving Chinese parties in 2012.
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The authors, N Vivekananda and Vicky Huili Zhao, are Deputy Registrar and Head (South Asia) and Associate Counsel, respectively, of Singapore International Arbitration Centre