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China has designated a specific domestic court for applications to recognise and enforce International Centre for Settlement of Investment Disputes (ICSID) awards for the first time since ratifying the ICSID...
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China has designated a specific domestic court for applications to recognise and enforce International Centre for Settlement of Investment Disputes (ICSID) awards for the first time since ratifying the ICSID Convention in 1993.
The designation of the Beijing No. 4 Intermediate People’s Court (which has since 2018 been the competent court in Beijing to hear cases relating to the validity of arbitration agreements, applications to set aside arbitral awards, and applications for the recognition and enforcement of foreign arbitral awards) provides welcome clarity for parties seeking to enforce ICSID awards in China.
Uncertainty nevertheless remains as to the applicable procedures and substantive requirements for such applications, and foreign state assets in China are generally immune from execution (subject to limited exceptions) pursuant to the PRC Foreign State Immunity Law, which came into force on 1 January 2024.
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