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Editor's Note: On the morning of December 10, 2024, the Beijing Arbitration Commission/Beijing International Arbitration Court (hereinafter referred to as "BAC/BIAC") held a press conference on "Establishing BAC/BIAC as a World-Class Arbitration Institution and Advancing Beijing as an International Commercial Arbitration Hub". BAC/BIAC Chairperson Guo Wei, delivered a speech under the theme of "Establishing BAC/BIAC as a World-Class Arbitration Institution and Advancing Beijing as an International Commercial Arbitration Hub" , providing a detailed introduction to the international development of BAC/BIAC and its efforts in building a world-class arbitration institution, aligning with international practices, and actively supporting the establishment of Beijing as an international commercial arbitration hub. The content of the speech is summarized as follows: BAC/BIAC was established in Beijing in 1995 by the People’s Government of Beijing Municipality and registered with the
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