Nation eyes major role as commercial arbitration center

China will develop uniform standards and improve its legal environment to build itself into an internationally recognized and influential arbitration center, said the president of the nation's Supreme People's Court.

"China will further improve the judicial examination system for arbitration, in order to create a good judicial environment for the development of arbitration," Zhou Qiang, president of the Supreme People's Court, said at the 2016 China Arbitration Summit on Wednesday.

Data from the Legal Affairs Office of the State Council showed that 244 Chinese arbitration commissions accepted 136,924 cases regarding trade, investment and legal issues in 2015, up 20 percent year-on-year. The cases involved 411.2 billion yuan ($61.6 billion), up 55 percent from the previous year.