(17 April 2019, HKCEC)

The Honorable Chief Executive Carrie Lam Cheng Yuet-ngor,
Dr. Francis Law Wai-hung,
Ms. Athita Komindr,
Mr. Ye Jun,
Mr. Justice Jeremy Poon Shiu-chor,
Mr. Rimsky Yuen Kwok-keung,
Distinguished Guests,
Dear Friends,

Good morning!

It gives me great pleasure to join you at today's conference. On behalf of the Commissioner's Office of the Chinese Foreign Ministry, I wish to extend my congratulations on the convening of the conference, and my warm welcome to all of you, especially friends who have come from across the globe to Hong Kong.

The topic of the conference is highly relevant under current circumstances. The international situation is undergoing profound and complex changes. The world economy continues to grow. Yet it is slowing down with a weak momentum, due to the sluggish international trade and investment and the rising unilateralism and protectionism. At the same time, destabilizing factors and uncertainties are still on the rise, and economic and trade frictions keep emerging. The world is facing deficits in peace and in development, which pose new challenges to our endeavor of reforming the global governance system. International dispute resolution is an important aspect of global governance that provides powerful safeguard for maintaining peace and promoting development. International institutions such as the United Nations and the World Trade Organization are actively exploring reforms to the existing trade and investment dispute resolution mechanisms. A good and effective dispute resolution mechanism should help people tell right from wrong, and promote peace and development. On this issue, China always adheres to the purpose of maintaining peace, and seeks to resolve differences through negotiations and dialogue on the basis of equal treatment and mutual accommodation. We believe that the international rules should be jointly written by all countries, and we uphold the rules-based international order. This is also an important component of China's missions under its major country diplomacy in the new era to jointly develop a new type of international relations and build a community of shared future for the mankind.

This conference will have discussions on diversified methods of dispute settlement relating to international trade and investment, with a particular focus on "mediation", a reviving one, which is in line with the current trend of reform and innovation. Mediation is clearly stipulated in the UN Charter as an important method of peaceful settlement of international dispute. It is further regulated by a new convention adopted by the United Nations. Compared with other dispute settlement methods which have more adversarial features, mediation reflects the importance of harmony and traditional values cherished by the Eastern culture. As an old Chinese saying goes, "benevolence and righteousness endures even though business relationship breaks." Moreover, the spirit of mediation echoes China's diplomatic principle of seeking mutual benefit and win-win outcome instead of zero-sum game or "winner-takes-all". I am convinced that an enhanced role of mediation in dispute settlement will not only improve the international business environment, but also benefit the global governance reform.

Distinguished guests,

Dear friends,

The fundamental purpose of building a mechanism of diversified dispute resolutions and improving global governance is to achieve peace and development for the entire mankind and share the fruits of development through cooperation of all nations. This is also the purpose of China's "Belt and Road Initiative", or BRI. Over the past five-plus years, the BRI has become the world's largest international cooperation platform and the most popular international public goods. So far 124 countries and 29 international organizations have signed BRI cooperation agreements with China. A large number of cooperation projects are being implemented in full swing, which have facilitated local economic growth and social progress and thus been extensively welcomed. The 2nd "Belt and Road" Forum for International Cooperation will soon be held. Thousands of representatives from more than 100 countries will gather in Beijing to discuss the high-quality development of the BRI cooperation. Together we will inject new energy into the building of an open world economy and bolster global development confidence. We believe that the BRI will also provide a new platform for promoting international legal cooperation, optimizing dispute resolution mechanism and improving global governance.

Distinguished Guests,

Dear Friends,

Hong Kong's smooth return to the motherland under the "one country, two systems" principle is an innovative approach taken by New China in the peaceful settlement of disputes. It also serves as a successful model in this regard. Hong Kong is well known for the convergence of Eastern and Western cultures, its well-correlated legal standards, close economic and trade links and advanced professional services. Hong Kong has maintained its long-term prosperity and development since 1997. It has ranked among the top in the world in terms of rule of law and business environment. Hong Kong's role as the center for international legal and dispute resolution services in the Asia-Pacific Region is increasingly consolidated. With the support of the Chinese Central Government and the joint efforts of all parties, Hong Kong will make full use of its unique advantages and contribute more to a diversified international dispute resolution system, stronger international legal cooperation and improved global governance.

Finally, on behalf of the Commissioner's Office, I wish this conference a complete success.

Thank you!