BEIJING, Jan. 25 (Xinhua) -- China will build the dispute settlement mechanisms and institutions under the Belt and Road Initiative.
In the spirit of extensive consultation, joint contribution and shared benefits, the country will rely on its existing judicial, arbitration and mediation institutions, and absorb and integrate the domestic and overseas law service resources to build a diversified dispute settlement mechanism effectively linking the litigation, mediation and arbitration, according to the Chinese authorities.
The move is to legally and properly resolve the commerce, trade, and investment disputes under the Belt and Road, equally protect legal rights and interests of the Chinese and foreign parties, and create a stable, fair and transparent business environment, said the Chinese authorities.
(Edited by Hu Pingchao, hupingchao@xinhua.org)
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