Plans are underway in Hong Kong to reform the Arbitration Ordinance and the HKIAC rules.
On 31 December 2007, the Hong Kong Department of Justice published a consultation paper on the proposed reform of the Arbitration Ordinance. The key proposed changes are to abolish the distinction between domestic and international arbitrations and to adopt the UNCITRAL Model Law in relation to all arbitrations with their seat in Hong Kong (under the current regime, the Model Law applies only to international arbitrations).
The consultation paper (including the draft bill) is now available on the Department of Justice's website. The consultation period will end on 30 April 2008.
The new HKIAC Rules are not yet in the public domain, but the HKIAC has announced that they are scheduled to come into force by 1 March 2008. The HKIAC has also recently signalled its intention to conduct a major push for mainland China related business.