Hong Kong could overtake London as top arbitration hub in decade: Bar Association head

Hong Kong's Bar Association head Jose-Antonio Maurellet has predicted that the Asian city could surpass London as the leading arbitration hub within the next ten years. Maurellet cited Hong Kong's status as a global fundraising center for businesses in mainland China and beyond as a key driver behind the city's rapid growth in arbitration work. The city currently ranks second globally, tied with Singapore, in a survey by Queen Mary University of London, only behind the British capital.

Last year, the total amount in dispute in arbitration cases handled by the Hong Kong International Arbitration Centre, the city's oldest arbitration body, reached HK$117.7 billion (US$15 billion). Maurellet believes that Hong Kong's appeal is growing due to its increasing selection as a venue for resolving high-value disputes linked to its role as an international capital-raising hub. He noted that elite international legal talent is attracted to Hong Kong's high-stakes cases.

One-third of the arbitrators at the Hong Kong International Arbitration Centre are from other common law jurisdictions, such as England, Australia, and New Zealand. However, some foreign practitioners still view Hong Kong mainly as a forum for China-related disputes. Maurellet stressed the importance of highlighting the city's broader international scope to build global confidence in its arbitration services.

He pointed out that while a significant portion of the business is China-related, there are emerging markets like Brazil, Indonesia, and the United Arab Emirates that are generating increasing interest.

Maurellet also mentioned the growing involvement of law firms from the United States and London acting for clients in Hong Kong, indicating a competitive environment for the city's arbitration services. He expressed positive sentiments about the International Organisation for Mediation, headquartered in Hong Kong, which focuses on resolving interstate conflicts.

He stated that lawyers are showing keen interest in joining as mediators, particularly from jurisdictions that might not have previously considered traditional arbitration venues.