A Comparative Study On The Innovation Of Shanghai Free Trade Zone Arbitration Center

As China is playing further participation in the global economy,there is a tendency that more and more commercial disputes will occur in China.That,on one hand,provides more opportunities for international commercial arbitration in china.On the other hand,it makes the development more challenging.China(Shanghai)Pilot Free Trade Zone Arbitration Center learned the best experience from the advanced international arbitration institutions and makes some great innovations,which represents the forefront of China’s arbitration reformation.Based on the analysis of the arbitration mechanism of Shanghai Free Trade Zone and the advanced arbitration mechanism abroad,this article puts forward the proposals of further development of Shanghai Free Trade Zone Arbitration Center.There are three main chapters in this thesis.The first chapter introduces the background of China’s international commercial arbitration,which includes the brief historical introduction of China’s international commercial arbitration and the opportunities and challenges faced by now.The second chapter analyses the establishment of Shanghai Free Trade Zone Arbitration Center and focuses on the institution innovations.In this chapter,there are three subchapters,including the background of the Shanghai Free Trade Zone Arbitration Center,the true innovations of the Shanghai Free Trade Zone Arbitration Rules and the overall comments about the Shanghai Free Trade Zone Arbitration Rules.Last but not least,the third chapter focuses on the further innovation and development of the Shanghai Free Trade Zone Arbitration Center.In this chapter,the author puts forward three proposals for further development of the Shanghai Free Trade Zone Arbitration Center.Firstly,ad hoc arbitration should be set up in Shanghai Free Trade Zone Arbitration Center.Ad hoc arbitration is quite popular in international arbitration,which cannot be replaced by institutional arbitration.Shanghai Free Trade Zone Arbitration Center should seize the development opportunities and create true innovations.Secondly,Shanghai Free Trade Zone Arbitration Center should learn the advanced experience of international arbitration institutions,such as the new cooperation of DIFC-LCIA and the combination of arbitration and the national court like Singapore International Commercial Court.Furthermore,the legal issues that may arise in third party funding should be regulated and the legal gaps should be filled.