New international commercial court will boost Hong Kong as a legal hub
Such tribunals are rapidly growing around the world. Hong Kong cannot afford to be left behind
The new specialist court, to be established within the coming year, will consider high-value, complex international and cross-border commercial cases in areas such as international trade, infrastructure and investment. It will form a division of the High Court, but may invite judges from other common law jurisdictions to sit on cases. Assessors and experts might also be hired to assist the judges. The aim is to ensure the court delivers high-quality judgments and quickly builds a strong reputation.
Hong Kong is following a global trend. There has been a rapid growth around the world in such tribunals, including in mainland China.
Singapore’s international commercial court began operating in 2015. Others exist in Dubai, Qatar and European countries. Guangzhou formed a commercial tribunal in February and Shanghai last year. Hong Kong, with its aspirations to become a leading global legal centre, cannot afford to be left behind.
The rise of such courts has been driven by demand for decisions that combine the certainty and transparency of well-reasoned judicial rulings with the procedural flexibility and efficiency more commonly found in arbitration. Many details of the Hong Kong court are yet to be revealed. The judiciary intends to issue a practice direction and to consult stakeholders. Clarity will be needed on the new court’s jurisdiction, categories of cases and procedures.