Good news long awaited by enterprises engaged in mineral resource exploration and development along the Belt and Road Initiative routes has finally arrived! Recently, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Opinions on Establishing an International Mechanism and Institutions for Resolving Commercial Disputes under the Belt and Road Initiative," aimed at actively promoting international cooperation under the Belt and Road Initiative, properly resolving commercial disputes arising during its implementation in accordance with the law, equally protecting the legitimate rights and interests of both domestic and foreign parties, and striving to create a fair and just business environment. This will provide stronger judicial services and guarantees for advancing the Belt and Road Initiative, implementing high-level trade and investment liberalization and facilitation policies, and promoting the construction of an open world economy. The document also clearly outlines the three guiding principles that should be followed in handling such disputes.

According to the “Opinions,” the Supreme People’s Court will establish an International Commercial Court and take the lead in setting up an International Commercial Expert Committee. It will support the resolution of international commercial disputes arising from the Belt and Road Initiative through mediation, arbitration, and other means, and promote the establishment of a diversified dispute-resolution mechanism that effectively links litigation with mediation and arbitration. This will help create a convenient, efficient, and low-cost “one-stop” dispute-resolution center, providing high-quality and efficient legal services to parties from countries participating in the Belt and Road Initiative. Furthermore, the Court will support domestic arbitration institutions and mediation organizations that meet the necessary conditions and enjoy a good international reputation in carrying out related activities. At the same time, it will also guide domestic legal experts to intensify their research on issues related to the resolution of international commercial disputes and ensure the effective application and dissemination of research findings.

Fair, professional, and efficient judicial safeguards are indispensable elements for the smooth advancement of the Belt and Road Initiative, and they also represent a crucial guarantee urgently needed by Chinese enterprises—especially those in the energy and resource sectors—as they “go global.” It is understood that overseas mineral exploration and development constitute an important pathway to ensuring China’s energy and resource security. However, the complexity of the risks involved and the severity of their potential consequences have drawn close attention from relevant government departments and research institutions. Take mining enterprises “going global” as an example: they face a wide array of risks—including political, economic, legal, resource-related, cultural integration, public security, and regional diseases—and these risks will persist throughout the entire process of overseas exploration and development, significantly impacting companies’ operating costs and even determining their ultimate fate. For a long time in the past, dealing with these risks has largely relied on enterprises either “fighting alone” or seeking assistance from third-party agencies to avoid and mitigate losses.

A responsible official from the Supreme People's Court recently stated in response to questions from Xinhua News Agency reporters regarding the “Opinions”: Currently, China is accelerating the establishment of a new open economic system, advocating for the development of an open world economy, and actively participating in global economic governance and safeguarding the international economic and trade order. China will no longer remain absent from these efforts. □