Since the establishment of the one-stop diversified international commercial dispute resolution center at Beijing Fourth Intermediate People's Court three years ago, efforts have been made to implement a "1+1+1+N" mechanism for diversified resolution of international commercial disputes and to explore the "seven-step approach" to mediation of international commercial disputes. This has propelled the development of mediation work in the new era, leading to the resolution of a large number of conflicts and disputes without litigation.
As of February 2024, a total of 313 international commercial disputes with accumulated value of approximately 9 billion yuan ($1.26 billion) have been mediated at the center, involving more than 30 countries and regions such as the United States, Germany, Russia, South Korea and Singapore and covering international commercial disputes over international sale of goods, equity transfer and private lending.
The subject matter of successful mediation cases amounted to over 750 million yuan, and both Chinese and foreign parties involved enjoyed a better experience, enhanced security, and a stronger sense of satisfaction.
