HK role vital in B&R arbitration solution: experts

Hong Kong's status as a regional legal service hub and its international image make the city's role essential in the nation's ambition to establish a Belt and Road-themed arbitration mechanism, legal experts said on Wednesday.

The call came after the nation's top reform decision-making body - the Leading Group for Deepening Overall Reform - approved a guideline for setting up such a procedure and organization in a meeting that concluded in Beijing on Tuesday.

According to the guideline, the dispute-solving procedure and organization should be built with the principle of extensive consultation, joint contribution and shared benefits, and should be based on China's existing judicial, arbitration and mediation institutions.