Overthepastfiveyears,morethan140countriesandregionshaveactivelyrespondedtotheSilkRoadEconomicBeltandthe21st-CenturyMaritimeSilkRoadprograms,ortheBeltandRoadInitiative,introducedbyChinesePresidentXiJinping.
ConstructionoftheBeltandRoadInitiativeinvolvesalargenumberofmultinationalcommercialactivities.Consequently,itisimportanttocreateastableandpredictablebusinessenvironmentbasedonruleoflaw.
Recently,theSPCCandtheCentralLeadingGroupforDeepeningOverallReformjointlyheldameetingtoreviewandpasstheOpinionsonEstablishingtheBeltandRoadInternationalCommercialDisputeSettlementMechanismandInstitutions,whichsetbasicprinciples,specificprogramsandorganizationalguaranteesincludingtheestablishmentofinternationalcommercialcourts.
TheSPCCwillalsoorganizeanExpertsCommitteeforInternationalCommercialAffairsfeaturingexpertsandscholarsfromChinaandcountriesalongtheBeltandRoad.
Currently,theSPCCisdraftingthestandardsandproceduresfortheExpertsCommitteeandclarifyingoperationalmechanismsofthecommittee.Thenewmechanismdoesnotconflictwiththeexistinginstitutions,butonlyprovidesmoreoptions.