The Dream Factory of China

Shu Weidong, an arbitrator for the South China International Economic and Trade Arbitration Commission (SCIA) and directing partner and solicitor at the China Commercial Lam Lee Lai (Qianhai) Law Firm, said that Qianhai should become a model of internationalization, marketization and legalization, whose experience would be replicated in other parts of China.

He stressed that Qianhai should have a more in-depth consideration on its legal construction, including the parties that need to be involved in innovation, the potential bottleneck of innovation, the driving force for innovation, among others. “It should build a mechanism that can have a direct dialogue with international standards and international markets,” said Shu.

Shu cited, as an example, the exports of China’s high-speed railways to other countries. “If we export to Ethiopia, we not only export the tangible rails, but also a series of soft services such as service on intellectual property and standards and norms on operation, human resources and training. This is what Qianhai needs to do, innovations on norms, standards and legalization.”

The China Merchants Group owns over 30 ports in 18 countries and regions, with rich experience accumulated over the years of managing ports. “It is actually an international standard. Is it possible that Qianhai cooperates with the China Merchants Group and takes its international standard to China to provide consultation and suggestions to enterprises that plan to invest in those countries or regions? We can turn a standard of an enterprise into a standard of a region or of a country,” Shu said, citing another example.

“When we export our capital and products, if we can use both Chinese and English versions of contracts, and when there is any discrepancy between the Chinese and the English versions, if the Chinese version shall prevail, then it will be a great protection for our enterprises and industries. This is also a symbol of state sovereignty,” Shu pointed out, adding that, for that purpose, they are now building the Global Union of Chinese Lawyers, a platform on which Chinese enterprises will be able to retain Chinese-language lawyers for their investment destination.