The 2021 International Commercial & Legal Cooperation Forum opened in Changsha on December 15. The theme of the forum is “Innovation leads Development, Rules Promote Opening-up”. More than 30 representatives of government departments and diplomatic envoys from 25 countries, as well as nearly 200 well-known experts, scholars, business executives and lawyers from home and abroad, attended the forum, both online and offline, to discuss the rule of law and the business environment.

Lu Pengqi, vice chairman of the China Council for the Promotion of International Trade (CCPIT), pointed out in his speech that, the legal, industrial and commercial communities of all countries should grasp the trend of the times, practice true multilateralism, strengthen mutual learning in laws and policy communication, improve international economic and trade rules through consensus on the rule of law, and reduce and eliminate barriers to trade and investment. The CCPIT will give full play to its functions and resource advantages in connecting governments and enterprises, inside and outside, and supply and demand, and further strengthen exchanges and cooperation with the legal and commercial communities of various countries.

Edwin TONG Chun Fai, Singapore's minister for culture, community and youth and second minister for law, said in his video speech that, innovation, rules and the rule of law are crucial for a country's economic and social development. With the internationalization of enterprises, it is extremely necessary to formulate common business rules for enterprises in various countries. “The Singapore Convention on Mediation is a uniform and efficient international convention for the implementation of international commercial mediation agreements to facilitate the development of international trade and commerce. China is a leader in legal technology development and patents, and Singapore has a vibrant legal technology system, which will provide new areas for cooperation between Singapore and Chinese companies,” he added.

Khampheng Saysompheng, Laos’ minister of industry and commerce, said in a video speech that, Laos and China adhere to the principles of extensive consultation, joint contribution and shared benefits advocated by the Belt and Road Initiative, and have deepened cooperation in investment, industry and trade, finance, culture, and infrastructure construction. He believed that the two countries will conduct exchanges and cooperation at deeper levels and in wider areas.

In recent years, with the goal of building itself into a highland of reform and opening up in inland areas, Changsha has combined its international commercial and legal cooperation with the “Belt and Road” construction and the development of an open economy. It has striven to foster a market-oriented, law-based and international business environment. It has won a number of honors, such as the “Chinese Rule of Law Government Award" and the “National Model City of Rule of Law Government Construction". The forum is an important opportunity for Changsha to promote in-depth reform and high-quality development with high-level opening-up.

The forum lasts for two days. Centering on the three main themes of “legal communication, integration of law and business, and international cooperation”, the participants have in-depth discussions on the new international economic and trade order and rules, the rule of law and business environment optimization, and corporate compliance governance. This will boost multilateral international exchanges and cooperation between governments and enterprises, and promote liberalization and facilitation of international trade and investment.

The forum is sponsored by the CCPIT, and undertaken by the CCPIT Legal Affairs Department and Commercial & Legal Service Center and the Changsha Municipal People's Government.

Source: en.changsha.gov.cn