On April 27, the Arbitration Law of the People's Republic of China (Amendment Draft) (hereinafter referred to as the "Amendment Draft") was submitted to the Standing Committee of the 14th National People's Congress for a second revision.
The second draft of the Amendment Draft adds provisions that China supports the arbitration commission to strengthen exchanges and cooperation with overseas arbitration institutions and relevant international organizations, and actively participates in the making of international arbitration rules.
The Amendment Draft makes it clear that with the consent of the parties, arbitration can be conducted virtually and does not distiguish from the traditional arbitration in terms of legal effect.. The second draft of the Amendment Draft stipulates that the arbitration commission shall adopt an information disclosure policy, promptly disclose information such as articles of association, registration of the institution, arbitration rules, arbitrator list, service process, fee standards, annual work reports, and financial budget and final account reports to the public, and actively accept social supervision.
The second draft of the Amendment Draft also clarifies that China supports the Chinese arbitration commission’s move to establish overseas branches and conduct arbitration services. Parties to foreign-related arbitration are encouraged to choose the arbitration commission of China and agree that China will be the seat of arbitration.

(Source: www.npc.gov.cn)