HK to lead e-arbitral awards development in strengthening international arbitration hub status: CEPU

Hong Kong is set to lead the development of electronic arbitral awards (e-Awards), following a seminar held by the Chief Executive's Policy Unit (CEPU) uniting leaders from legal, academic, political, and economic sectors. Experts agreed that now is the perfect time for the city to advance e-Awards and bolster its international arbitration status.

E-Awards represent a digital transformation of traditional arbitration, allowing tribunals to create, sign, and deliver arbitral awards electronically without paper originals. 

The initiative builds on Hong Kong's established reputation as a leading global arbitration center, which currently ranks second worldwide in popularity alongside Singapore, trailing only London. The city's bilingual legal system, world-class legal foundation, and prestigious arbitration institutions have earned the confidence of the international business community.

In his keynote address, professor Julien Laurent Chaisse from City University of Hong Kong's School of Law outlined a three-pronged strategy for advancing e-Awards. He proposed amending the Arbitration Ordinance to establish clear legal status and enforceability for electronic awards, creating a model with global applicability. He also recommended coordinating the leading arbitration institutions in Hong Kong to develop unified operational standards and exploring blockchain technology to guarantee the authenticity and security of digital awards.

The seminar drew a distinguished roster of participants, including Rimsky Yuen Kwok-keung, chairman of the Hong Kong International Arbitration Centre; Roden Tong Man-lung, president of the Law Society of Hong Kong; Kenneth Fok Wing-kuen, chief executive of the Financial Dispute Resolution Centre; Francis Law Wai-hung, president of the Hong Kong Mediation Centre; Albert So Man-kit, chairman of the Hong Kong Mediation and Arbitration Centre; Yan Yueming, assistant professor of the Faculty of Law at the Chinese University of Hong Kong and members of the CEPU expert group.

According to seminar participants, Hong Kong's e-Awards initiative seeks to establish industry-leading standards while leveraging digital innovation to enhance the city's already well-regarded arbitration services.

The CEPU plans to submit research findings from the initiative to relevant government bureaus for consideration and potential implementation.

Stephen Wong Yuen-shan, head of the CEPU, emphasized that the e-awards development serves a dual purpose: enhancing Hong Kong's competitiveness while supporting China's broader international legal system development. 

He added that through institutional integration, professional expertise, and alignment with international standards, Hong Kong can strengthen the country's voice in international legal governance, while  demonstrating the city's roles as a "super-connector" and a "super value-adder."