HKIAC Releases Statistics for 2021
As we head into the Year of the Tiger, HKIAC takes the opportunity to release its case statistics for 2021.
A total of 514 matters were submitted to HKIAC in 2021. Of those, 277 were arbitrations, 225 were domain name disputes and 12 were mediations. Of the 277 arbitrations, 183 were administered by HKIAC. The total amount in dispute across all arbitrations was HK$54.6 billion (approximately US$7 billion). The average amount in dispute in administered arbitrations was HK$193.8 million (approximately US$24.8 million).
Arbitrations filed in 2021 continued to be predominantly international featuring parties from 41 jurisdictions. 82% of all arbitrations and 93% of administered arbitrations were international (a 10% and 7% increase from 2020 respectively). The vast majority of the arbitrations were seated in Hong Kong, while other seats included Moscow, Singapore, and England & Wales. Disputes were subject to 13 different governing laws.
Parties benefitted from provisions available under HKIAC’s Administered Arbitration Rules for multi-party multi-contract disputes. The 277 arbitrations submitted to HKIAC in 2021 involved a total of 801 parties and 475 contracts. Of the 277 arbitrations, 131 involved multiple parties or contracts. In a third of those cases, HKIAC’s joinder, consolidation, and single arbitration multiple contract provisions were invoked to streamline the process.
HKIAC appointed 142 arbitrators in 2021. Of the 142 appointments made by HKIAC, 31 (22%) were of female arbitrators and 44 (31%) were of arbitrators not previously appointed by HKIAC over the last three years.
HKIAC’s tribunal secretary service continued to grow in popularity given the time and cost efficiencies offered. HKIAC’s legal staff received 20 tribunal secretary appointments, reflecting another record year since the HKIAC introduced the service in 2014.
In 2021, users increasingly turned to HKIAC for their hearing services. HKIAC’s hosted 138 hearings, of which 101 were fully or partially virtual, and 37 were in-person at HKIAC’s premises in Hong Kong.
A growing number of parties made applications under the Hong Kong-Mainland China arrangement on interim measures (“Arrangement”):
In 2021, HKIAC processed 25 applications to 15 different Mainland Chinese courts under the Arrangement seeking to preserve evidence, assets, or conduct worth a total of RMB 3.5 billion (approximately US$544.4 million). In respect of those applications, the Mainland Chinese courts issued orders to preserve RMB 1.5 billion (approximately US$233.6 million) worth of assets. Since the introduction of the Arrangement in October 2019, HKIAC has processed 62 applications and is aware of court orders preserving assets totalling RMB 12.7 billion (US$2 billion). For further information about the HKIAC’s practice and experience under the Arrangement, please visit our website here.
HKIAC’s statistics for 2021 are published here.
Please click here to read the Russian-language translation.