China: Arbitration CIETAC suspends Shanghai and Shenzhen Branches

The Shanghai and Shenzhen branches of China's busiest arbitral body, the China International Economic and Trade Arbitration Commission (CIETAC), have been suspended by CIETAC's Beijing headquarters.

The suspension of the branches causes uncertainty over for investors and businesses which have stipulated the Shangahi or Shenzhen branches of CIETAC as their seat of arbitration.

CIETAC Beijing cites the Shanghai and Shenzhen branches refusal to adopt the new rules in May developed to more closely align with current international practice as the reason for suspension.

Read the Reuter's article here.