China has designated a specific domestic court for applications to recognise and enforce International Centre for Settlement of Investment Disputes (ICSID) awards for the first time since ratifying the ICSID Convention in 1993.
The designation of the Beijing No. 4 Intermediate People’s Court (which has since 2018 been the competent court in Beijing to hear cases relating to the validity of arbitration agreements, applications to set aside arbitral awards, and applications for the recognition and enforcement of foreign arbitral awards) provides welcome clarity for parties seeking to enforce ICSID awards in China.
Uncertainty nevertheless remains as to the applicable procedures and substantive requirements for such applications, and foreign state assets in China are generally immune from execution (subject to limited exceptions) pursuant to the PRC Foreign State Immunity Law, which came into force on 1 January 2024.
For more information, see the full post on our Arbitration Notes blog.
Key contacts
Weina Ye
Partner, Herbert Smith Freehills Kramer Kewei Joint Operation, Mainland China and Shanghai
Jenny Tu
Associate, Kewei, Mainland China and Shanghai
Nicole Jiang
Associate, Kewei, Mainland China and Shanghai
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.