On February 3, 2012, the China Council for the Promotion of International Trade / China Chamber of International Commerce adopted the 2012 Arbitration Rules of the China International Economic and Trade Arbitration Commission ("CIETAC"), which will take effect on May 1, 2012. The new rules grant parties to an arbitration proceeding the right to apply for arbitration consolidation, interim measures or suspension of arbitration proceedings. CIETAC may decide to consolidate two or more arbitration cases pending under its rules into one single case at the request of a party and with the agreement of all other parties. In addition, if CIETAC deems necessary or appropriate, it may grant interim measures in the form of a procedural order or an interlocutory award and require the party asking for the interim measures to provide security. The new rules also widen the threshold for the application of summary procedure to cases where the amount in dispute does not exceed RMB 2,000,000 yuan.
The full Chinese text of the notice is available here.
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