International Organization for Mediation Established in Hong Kong to Promote Peaceful Dispute Resolution

2025-05-30 23:19 Last Updated At：23:48

Signing Ceremony of the Convention on the Establishment of the International Organization for Mediation and Global Forum on International Mediation successfully conclude today

The Signing Ceremony of the Convention on the Establishment of the International Organization for Mediation (IOMed) and the Global Forum on International Mediation successfully concluded today (May 30).

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Signing Ceremony of the Convention on the Establishment of the International Organization for Mediation and Global Forum on International Mediation successfully conclude today Source: HKSAR Government Press Releases

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Signing Ceremony of the Convention on the Establishment of the International Organization for Mediation and Global Forum on International Mediation successfully conclude today Source: HKSAR Government Press Releases

Member of the Political Bureau of the Communist Party of China Central Committee and Minister of Foreign Affairs, Mr Wang Yi, attended the Signing Ceremony of the Convention in Hong Kong. Mr Wang was the first to sign the Convention on behalf of China. Thirty-three countries, including China and countries from Asia, Africa, Latin America and Europe, jointly signed the Convention. In addition, more than 50 countries and nearly 20 international organisations, including the United Nations (UN), also sent senior representatives to witness the Signing Ceremony. The Chief Executive, Mr John Lee; the Chief Secretary for Administration, Mr Chan Kwok-ki; the Financial Secretary, Mr Paul Chan; and the Secretary for Justice, Mr Paul Lam, SC, were also present.

Addressing the ceremony, Mr Wang said that as an innovative step in international rule of law, the IOMed has great significance in the history of international relations. The establishment of the IOMed is an actualisation of the purposes and principles of the UN Charter; it is also an example of a civilisational belief in harmony and an epitome of inclusiveness in the culture of the rule of law. The IOMed will be headquartered in Hong Kong, whose handover is itself a success story of peaceful settlement of international disputes. The success of the "one country, two systems" principle has created brighter prospects for prosperity and stability in Hong Kong. Mr Wang said that he looks forward to all parties working together to let the IOMed play a positive role in peacefully resolving international disputes for a brighter future for humanity.

Addressing the ceremony, Mr Lee expressed his sincere gratitude to the Central Government for its staunch support of Hong Kong, allowing Hong Kong the honour of housing the IOMed headquarters. He also thanked the international community for placing their trust and confidence in the city. He said that Hong Kong is the only common law jurisdiction in China. With a robust, efficient and well-respected legal system, as well as world-class legal and dispute resolution services professionals, Hong Kong is also the most preferred seat of arbitration in the Asia-Pacific region. Hong Kong goes all out to build bridges with the world and will actively support and facilitate the IOMed's valuable work in settling international disputes through mediation, thereby providing a pathway for countries to resolve international disputes based on mutual respect and understanding.

The Global Forum on International Mediation in the afternoon discussed topics such as mediation of disputes among countries and mediation of international investment and commercial disputes. Twenty-three leaders from different countries and international organisations shared their experiences on how a neutral third party can effectively assist in the mediation of disputes between countries through dialogue and consultation, highlighting the importance of mediation to the peaceful development of the world and the practice of justice. The speakers also discussed new developments in international investment and commercial dispute mediation and the contributions that the IOMed can make.

Witnessed by forum guests, Mr Lam signed a Memorandum of Understanding with the Minister of Commerce of Cambodia, Mrs Cham Nimul, to strengthen co-operation between the two places on issues relating to dispute avoidance and resolution.

The objective and goal of the IOMed is to promote and facilitate the peaceful settlement of international disputes and to develop friendly relations and co-operation between countries through mediation. It is an important mechanism for implementing Article 33 of the UN Charter to peacefully settle international disputes through mediation and other means. It is of great significance to achieving win-win co-operation among all parties to the dispute, improving global governance, and promoting world peace and stability in the international order. The IOMed will be the first international intergovernmental legal organisation devoted to the use of mediation in resolving international disputes. It will be a beneficial supplement to the current international dispute settlement mechanism and will provide a new legal public good in international rule of law, marking a milestone in promoting the settlement of international disputes through mediation.

The Convention on the Establishment of the International Organization for Mediation is the legal basis for the establishment of the IOMed, which covers important provisions such as the functions, governance structure, operation, scope of cases accepted, privileges and immunities of the IOMed. With the signing of the Convention, the IOMed will be formally established after signatories' ratification of the Convention and be headquartered in Hong Kong. The IOMed headquarters is expected to be operational by the end of this year or early next year at the earliest, providing friendly, flexible, economical and efficient mediation services to all parties, thereby strengthening Hong Kong's role as an international dispute resolution services centre and a capital for international mediation. Fully harnessing the institutional strengths under the "one country, two systems" principle and integrating into the national development strategy, Hong Kong will contribute to building a world of peace and justice.

The text of the Convention is available on the IOMed's website.

HKMA Announces Notes Exchange for Chinese New Year from February 3 to 16, Encourages Electronic Lai-See.

Notes exchange service and electronic lai-see for Chinese New Year

The following is issued on behalf of the Hong Kong Monetary Authority:

As the Chinese New Year draws near, the Hong Kong Monetary Authority (HKMA) and the three note-issuing banks (The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank (Hong Kong) Limited and Bank of China (Hong Kong) Limited) announced today (January 13) that new notes and good-as-new notes, i.e. used notes which are in good condition and suitable for use as lai-see, will be available for exchange at branches of the three note-issuing banks from February 3 (Tuesday) to February 16 (Monday).

The HKMA encourages the public to use electronic channels including the Faster Payment System available via online or mobile banking, or other e-wallet services for giving lai-see. Giving electronic lai-see is simple and convenient, and will contribute to sustainable development by reducing the usage of physical red packets and banknotes. Major banks and electronic payment operators will encourage giving electronic lai-see by various promotional programmes. The public may refer to the details of these programmes as and when announced by banks and operators.

The three note-issuing banks will put in place appropriate measures to facilitate the notes exchange, including:

(1)

Advancing the opening hour to 8am on the first 3 days of the service period, i.e. February 3 (Tuesday) to February 5 (Thursday), and dedicating the aforesaid additional operation hour, i.e. 8am to 9am, exclusively for providing the notes exchange service;

(2)

Offering online booking service for both new notes and good-as-new notes starting from January 27 (Tuesday), details of which will be announced by individual note-issuing banks within next week; and

(3)

Putting in place crowd management measures such as distributing physical tickets and implementing queue management when needed.

Members of the public who desire to use cash for giving lai-see may wish to check for any remaining stock of new notes or good-as-new notes at home before going to a bank. Also, there is no need to rush to exchange for new notes and good-as-new notes during the first few days of the service period as banks will ensure the supply of these notes throughout the service period.

International Organization for Mediation Established in Hong Kong to Promote Peaceful Dispute Resolution

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