HKIAC Releases Statistics for 2023

PRESS RELEASE
HKIAC Releases Statistics for 2023

As the Year of the Dragon commences, HKIAC is pleased to release its case statistics for 2023.

Amounts in dispute and gender diversity in arbitral appointments set new record 

In 2023, there was a total of 500 matters submitted to HKIAC. Of those, HKIAC received 281 arbitration filings, which is the 3^rd highest number of cases received since 2017. For the remaining cases, 209 were domain name disputes and 10 were mediations. Of the 281 arbitrations, 184 were administered by HKIAC.

The total amount in dispute across all arbitrations in 2023 was HK$92.8 billion (approximately US$12.5 billion). The average amount in dispute in administered arbitrations was HK$467.6 million (approximately US$60.1 million). Both numbers represent a record high for HKIAC.  

Arbitrations filed in 2023 continued to be predominantly international featuring parties from 63 jurisdictions. 75.1% of all arbitrations and 89.7% of administered arbitrations were international with at least one non-Hong Kong party. Nearly 10% of all arbitrations submitted to HKIAC in 2023 involved no Asian parties. Excluding Hong Kong and Mainland China, the top Asian users of HKIAC arbitrations are from Singapore, South Korea and Japan, and the top users outside of Asia are from British Virgin Islands, Cayman Islands and the United States.

Of the arbitration filings received in 2023, almost 60% arose from contracts signed in 2020 or later, reaffirming that parties continue to recognise HKIAC’s unique strengths and outstanding case administration services.

The vast majority of the arbitrations were seated in Hong Kong. Disputes were subject to 14 different governing laws.

Parties benefited from provisions available under HKIAC’s Administered Arbitration Rules for multi-party multi-contract disputes. The 281 arbitrations submitted to HKIAC in 2023 involved a total of 771 parties and 382 contracts.

HKIAC appointed 172 arbitrators in 2023. Of the 172 appointments made by HKIAC, 60 (34.9%) were of female arbitrators, significantly higher than 2021 and 2022, 21.8% and 27% respectively. Further reflecting the increasing diversity of HKIAC arbitrator appointments, 59 (34.3%) were of arbitrators not previously appointed by HKIAC over the last three years.

HKIAC’s offer of its tribunal secretary service has continued to receive positive feedback as a result of its time and cost efficiencies. The HKIAC Tribunal Secretary Training Program has also continued to grow in popularity and since the inception of the program in 2015, a cohort of more than 200 people from 25 jurisdictions have successfully completed the training program.

In 2023, HKIAC hosted 101 hearings, of which 44 were fully or partially virtual, and 57 were in-person at HKIAC’s premises in Hong Kong.

A steadily growing number of parties made applications under the Hong Kong-Mainland China arrangement on interim measures (“Arrangement”)

In 2023, HKIAC processed 19 applications to 13 different Mainland Chinese courts under the Arrangement seeking to preserve assets or conduct worth a total of RMB 3.5 billion (approximately US$491 million). In respect of those applications, the Mainland Chinese courts issued orders to preserve RMB 544 million (approximately US$76.1 million) worth of assets. Since the introduction of the Arrangement in October 2019 and as at the end of 2023, HKIAC had processed 105 applications and is aware of court orders preserving assets totalling RMB 15.8 billion (approximately US$2.2 billion). For further information about HKIAC’s practice and experience under the Arrangement, please visit our website here.

_{*A correction was made in March 2024 clarifying that arbitrations filed in 2023 featured parties from 45 jurisdictions.”}

HKIAC’s statistics for 2023 are published here.

Please click here for the Chinese language translation.

Please click here for the Korean language translation.

Please click here for the Russian language translation.