Rimsky Yuen: Build a common platform for law and dispute resolution

Rimsky Yuen, Senior Counsel pointed out that under “One Country, Two Systems”, Hong Kong is the only Chinese-speaking place in the world that uses common law. As Hong Kong is an international and open place, it has many lawyers from overseas. Relevant legal experts, if required, are available in Hong Kong to deal with legal issues arising from other places. Hence, he believes that Hong Kong’s legal professionals can provide various legal services for enterprises investing in B&R regions. In addition, as the Hong Kong International Arbitration Centre is widely recognized in the world, Hong Kong is an ideal place for arbitration of B&R-related investment disputes.

As B&R involves many countries, each with its own legal system and culture, Yuen believes that various legal risks must be explored before investing and doing business in these places. This is precisely because of the close relationship between law and economic and trade activities. Yuen stressed that for the healthy development of B&R, it must have a legal business environment, and all kinds of economic, trade and investment activities shall be regulated on this legal platform.

Currently, Western countries have greater influence and a bigger voice in the formulation of international trade rules. In contrast, China’s participation is disproportionately limited, which Yuen said is not ideal. He suggested formulating a set of rules specific to resolving B&R disputes and set up a B&R dispute resolution center. He believes that Hong Kong can play a positive role in this aspect.