China emerges as preferred destination for global commercial arbitration

BEIJING, Sept. 8 (Xinhua) -- China has emerged as a preferred destination for international commercial arbitration, Minister of Justice He Rong said on Monday, citing a surge in cases over the past five years.

More than 16,000 foreign-related arbitration cases, with claims totaling 730 billion yuan (about 102.8 billion U.S. dollars), have been handled during that period, He told a press conference.

In 2024 alone, more than 4,400 such cases were accepted, involving nearly 200 billion yuan, up 100 percent and 136 percent respectively from 2020.