HKIAC was established in 1985 to assist parties resolve their disputes through arbitration and other means of dispute resolution.  A group of leading business and professional people in Hong Kong founded the HKIAC with the hope of making it the leading centre for dispute resolution in Asia.  The business community and the Hong Kong Government have generously funded the HKIAC, but the Centre is totally independent and is financially self sufficient. HKIAC is a non-profit making company limited by guarantee.  The Centre is governed by a council composed of leading business and professional people of many different nationalities who possess a wide variety of skills and experience.  The Council, through the Centers Secretary-General, who is its chief executive and registrar, administers arbitrations and other dispute resolution activities, including mediation and adjudication.

Hong Kong is uniquely placed to provide dispute resolution services in Asia. Because of its location, Hong Kong empathizes with the Asian traditions of mediation, yet at the same time is extremely familiar with Western approaches to dispute settlement due to its common law history.  As a result, Hong Kong has become skilled at blending the best of east and west and has created the prime centre in Asia for dispute resolution.

Hong Kong is fortunate to be a world centre of expertise in commerce, information technology, finance, shipping and construction with an enormous pool of experienced professionals available to support dispute settlement. As well as accountants, architects, bankers, engineers, insurance experts and lawyers, there are thousands of other specialists who may be called on to assist in particular disputes. In addition to lawyers qualified to advise on Hong Kong law, there are many experienced lawyers from most major international trading nations who are qualified to advise on the laws of their respective jurisdictions. When necessary to supplement its own arbitral experience, Hong Kong can draw on the international reservoir of specialist knowledge.

Hong Kong law is based closely on English law.  As part of the change in Hong Kongs sovereignty in 1997, the Peoples Republic of China guaranteed the continuation of Hong Kongs legal system until the middle of the 21st century.

The Hong Kong Arbitration Ordinance (Chapter 341 of the Laws of Hong Kong) provides the legislative support to mediation and arbitration in Hong Kong. Under this law, there are two distinct arbitration regimes. One regime applies to domestic arbitration and the other to international arbitration. Since April 1990 the UNCITRAL Model Law has applied to international arbitrations held in Hong Kong. The New York Convention (1958) on the Recognition and Enforcement of Foreign Arbitral Awards establishes a detailed framework for the recognition and enforcement of arbitral awards.  There are over 140 signatories to this Convention.

Hong Kong adopted the New York Convention on 21 April 1977 by virtue of the United Kingdoms accession to the convention.  After 1 July 1997, China extended the application of the New York Convention to Hong Kong. Hong Kong courts recognize and enforce arbitral awards made in countries which are signatories to the New York Convention in accordance with the terms of that Convention. There is also provision in the Arbitration Ordinance for the Hong Kong courts to enforce domestic awards and awards made in non-Convention centers. Similarly, Hong Kong awards can generally be enforced through the courts of other signatory countries.

In 1999, the Arrangement Concerning Mutual Enforcement of Arbitral Awards Between the Mainland and the Hong Kong Special Administrative Region was signed by Mr Shen Deyong , Vice President of the Supreme People’s Court of the People’s Republic of China and Ms Elsie Leung, the Secretary of Justice of Hong Kong. Under the Arrangement, Hong Kong courts will enforce “Mainland awards” on almost identical terms with the New York Convention awards, and vise visa. The Arrangement was enacted in Hong Kong as Part IIIA of the Arbitration Ordinance from 1 February 2000.