On December 11, 2024, on the 2nd Business Conference on Guangdong-Hong Kong-Macao GBA, CMAC Greater Bay Area Arbitration Centre (South China Branch), China International Economic and Trade Arbitration Commission (CIETAC) South China Sub-Commission and Hong Kong Arbitration Center, CCPIT Guangdong Mediation Center, Benchmark Chambers International & Benchmark International Mediation Center (BCI&BIMC), AALCO Hong Kong Regional Arbitration Centre, Hong Kong International Arbitration Centre (HKIAC), Hong Kong Maritime Arbitration Group (HKMAG), and World Trade Center Macau Arbitration Center(WTCMAC) jointly released the "Joint Initiatives on Promotion of Diverse Resolution of Commercial Disputes to Support the High-Quality Development in the Guangdong-Hong Kong-Macao Greater Bay Area" ("Joint Initiatives").

Under the guidance of the national development strategy, the Guangdong-Hong Kong-Macao GBA is continuously deepening tight cooperation in the construction of the rule of law and economic development, and building a high-standard, globally influential opening-up. The Joint Initiative was initiated by CMAC, affiliated with the CCPIT, in Chinese, English and Portuguese through the consensus of representative arbitration and mediation institutions in Guangdong, Hong Kong and Macao on enhancing understanding and mutual trust and jointly promoting economic and trade development. The Joint Initiative focuses on the core value of functioning regional economic development, responds to the practical necessities of the business and legal entities in GBA area to further cooperation in dispute resolution services among the three areas and comprehensively improve the law-based business environment in the region, and will empower high-quality development of the regional economy by strengthening the leading and safeguarding role of the rule of law.