Beijing Holds the 7th Belt and Road Service Capacity Construction Forum
Date: 2022-09-08
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The 7th Belt and Road Service Capacity Construction Forum and RCEP (Regional Comprehensive Economic Partnership) Financial and Legal Services Development Forum was held in Beijing during the 2022 China International Fair for Trade in Services. The Initiative on International Freight Standards for the China-Europe Railway Express and the RCEP Guide on Investment, Mergers and Acquisitions were released at the forum. Institutions and experts at home and abroad signed the initiative, which upholds inclusiveness and win-win cooperation, advocates the integration of international freight standards, promotes universal standards for China-Europe Railway Express, improves digital service, and serves the economic development of countries and regions participating in the Belt and Road Initiative (BRI).

The forum was co-organized by Beijing Law Society and Beijing Retio Legal & Commercial Service Center for BRI. Discussions were held on "high-quality development of the Belt and Road empowered by the digital economy" and "RCEP financial and legal services". Guests from governments, business associations, enterprises, research institutes and professional service providers from countries and regions including China, Italy, Singapore, Spain, Hong Kong SAR and Macao SAR delivered speeches.

Wang Qinmin, vice chairman of the 12th National Committee of the Chinese People's Political Consultative Conference (CPPCC) and director of the National E-government Expert Committee of China, said that we should continue with the comprehensive service capacity building for BRI, provide services of project matchmaking, risk resolution, and international commercial dispute mediation. We should give play to the role of professional international mediators and online and offline mediating mechanisms, serve the high-quality development of BRI and support the Initiative on International Freight Standards for the China-Europe Railway Express.

He Zhenwei, President of China Overseas Development Association, said that Beijing Retio Center, which was established on the service mechanism of the BRI, would help improve China's high-level opening-up and the financial legal system, guard against and deal with financial risks and enterprise disputes, and enhance the country's ability to participate in global financial legal services.

Xiao Youmao, full-time Vice President of Beijing Law Society, said that it was of great significance to leverage the platform of China International Fair for Trade in Services to explore Beijing's participation in BRI and the legal services provided for the regional economic cooperation. This will further improve the legal services for foreign-related affairs, play an active role in global governance, promote the use of multiple channels to resolve commercial disputes, and advance Beijing's high-level opening-up.

Wang Li, Chairman of Belt and Road Service Connections and President of Beijing Retio Legal & Commercial Service Center for BRI, made the 2022 Annual Report on Comprehensive Service Capacity Building of Belt and Road. He proposed to expand the Belt and Road Service Mechanism and link with RCEP, improve professional services, strengthen the risk prevention network, explore new opportunities for international cooperation in commercial mediation, and create a legal and commercial innovation service platform for BRI.

Beijing Retio Legal & Commercial Service Center for BRI has been working to build a multifunctional platform for international commercial and legal service as well as a world-class legal and commercial service ecosystem, so as to provide professional services such as think tank research, dispute mediation, legal investigation, and project investment and financing. Many of its international initiatives have been recognized by professional institutions at home and abroad. Its mediation center – the International Commercial Mediation Center for BRI – has 582 global mediators, 100 mediation offices at home and abroad, and has accepted 7211 cases, of which 879 are foreign-related, with a mediation success rate of 60%.

At the forum, Beijing Retio Legal & Commercial Service Center for BRI signed contracts on a digital economic cooperation project with Intelligent and Digital Economy Association of Yunnan Province and on an industrial park of stout camphor fungus with an agriculture company.

(Reporter: Chen Hang)