Zheng Ruohua: The International Chamber of Shipping sets up its first overseas office in Hong Kong to confirm the advantages of "One Country, Two Systems"

Political situation

Written by: Peng Zhuowei

2020-10-31 12:31

Last update date: 2020-10-31 12:31

The Secretary of Justice Zheng Ruohua stated that the International Chamber of Shipping chose to set up a Chinese office in Hong Kong. This is the first overseas office to be established outside of London. It is the result of Hong Kong's efforts to promote high-value-added maritime services. It also confirms that Hong Kong enjoys "one country, two systems". Its unique position and advantages have attracted international organizations to set up offices in Hong Kong.

Zheng Ruohua stated on his blog today (31st) that the maritime industry is a diversified industry with a very wide range of services, which plays a decisive role in the economic development of Hong Kong.

Facing the influence of global economic factors and fierce competition in surrounding areas, apart from the inherent "hardware" infrastructure, Hong Kong must also make full use of the advantages of other "software" such as maritime legal services, ship financing, maritime insurance, etc. The opportunities brought about by the country's "One Belt, One Road" and the Guangdong-Hong Kong-Macao Greater Bay Area can continue to enhance Hong Kong's status.

The Secretary of Justice Zheng Ruohua stated that the International Chamber of Shipping chose to set up a Chinese office in Hong Kong. This is the first overseas office to be established outside of London. It is the result of Hong Kong's efforts to promote high-value-added maritime services. It also confirms that Hong Kong enjoys "one country, two systems". The unique position and advantages (profile picture)

The Baltic Chamber of Shipping lists Hong Kong as the designated place of arbitration, reflecting international recognition

Zheng Ruohua pointed out that the Baltic and International Maritime Council ("BIMCO") recently announced the adoption of the "BIMCO Law and Arbitration Clause 2020", listing Hong Kong as one of the four designated arbitration venues, reflecting Hong Kong’s position in the Dispute Resolution Center. The international recognition of its status also proves that Hong Kong has successfully ranked among the world's top maritime arbitration centers.

Zheng Ruohua said that Hong Kong is equipped with superior infrastructure and also brings together professionals from various sectors, including law, finance, accounting, insurance, transportation logistics, aviation and shipping services, and has always been the preferred logistics hub in Asia.

Since the 1950s, Hong Kong has started to operate local and international logistics, and has established a network that is second to none. Together with the accumulated rich experience, Hong Kong has become the intersection of global freight, land, sea and air transportation routes and an important supply chain base. .

Will continue to create a favorable environment for the development of maritime arbitration

She also mentioned that Hong Kong also provides a very comprehensive maritime service, including legal and dispute resolution services. There are arbitrators and lawyers from different professional backgrounds and jurisdictions. Many of them are proficient in Chinese and English, and understand both Western culture and Familiar with the mainland situation and possess professional maritime knowledge, in different areas, such as ship financing, trading, and maritime insurance, provide high-end maritime commercial law and arbitration services for shipowners, charterers and cargo owners.

Zheng Ruohua emphasized that Hong Kong has the superior potential to become an international hub for providing high-end maritime services. The Department of Justice will continue to create an environment conducive to the development of maritime arbitration, exert synergies with shipping and port operations, consolidate our foundation, expand the international market and actively cooperate with the country Rapid development as the world's second largest economy.

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Zheng Ruohua, one country, two systems