The Supreme People's Court (SPC) on Thursday issued a judicial interpretation to guide judges in applying international treaties and conventions in foreign-related commercial cases, a move lauded as bolstering both rule of law and the country's high-level economic opening-up.
The document, effective Jan 1, "is an important measure for China to accelerate the construction of rule of law in the matter of foreign affairs, and to serve the country's high-level opening-up," said Wang Shumei, standing member of the SPC's adjudication committee (vice-minister level), at a news conference.
The interpretation underscores China's commitment to upholding the international order based on international law and promoting rule-of-law in international relations, Wang added.
She emphasized the interpretation's practical benefits, stating it will "enhance the quality and efficiency of dealing with foreign-related commercial disputes." This, she said, will "improve China's judicial credibility in the world and build a market-oriented, law-based and internationalized business environment."
The nine-article interpretation highlights three key principles: acting in good faith when fulfilling treaty obligations, respecting international conventions, and safeguarding national sovereignty, security, and public interests.