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The Judiciary announced Thursday it will set up the Hong Kong International Commercial Court (HKICC) within the coming year to handle international and cross-border business disputes.
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The move aims to strengthen Hong Kong's position as an international financial centre and a leading dispute resolution hub, in alignment with the nation's 15th Five-Year Plan.
As a specialist division under the High Court, the HKICC is set to adjudicate complex, high-value international and cross-border commercial disputes, filling a growing demand for a judicial forum dedicated to addressing legal and factual complexities in international commerce.
Together with arbitration and mediation, the HKICC will offer a comprehensive range of dispute resolution options for parties engaged in cross-border business activities.
Notably, HKICC will offer distinctive advantages of the judicial process, ranging from transparency, authoritative judicial determinations, a structured appellate process, and the certainty of enforceable judgments, including their recognition and enforcement on the Mainland under the relevant mutual arrangements.
To enhance the court's expertise and international standing, cases will be heard by local judges with substantial experience, where eminent senior judges or practitioners from other common law jurisdictions may be invited on an ad hoc basis.
Additionally, the court may also bring in experts and assessors to assist the judges with specialized matters when needed.
The High Court Ordinance and the Rules of the High Court provide the necessary legal framework for the establishment of the HKICC, and a dedicated Practice Direction will be issued to prescribe the categories of cases within its jurisdiction and to set out detailed court procedures.
These will include streamlined proceedings and a more flexible appeal mechanism to ensure the timely handling of cases and appeals.
It is reported that a full floor of the High Court Building will be designated for the HKICC, with technologies including remote hearings and electronic filing.
Aiming to establish the court within one year, the Judiciary stated that preparatory work is underway and stakeholders will be consulted in due course.
