HKIAC Releases Statistics for 2022
As we head into the Year of the Rabbit, HKIAC takes the opportunity to release its case statistics for 2022.
Arbitration statistics set new record
In 2022, there was a total of 515 matters submitted to HKIAC. Of those, HKIAC received 344 arbitration filings, which is the highest number received in over a decade. Of the arbitration filings received in 2022, approximately 50% arose from contracts signed in 2020 or later, reaffirming HKIAC’s strength in the last three years.
For the remaining cases, 161 were domain name disputes and 10 were mediations. Of the 344 arbitrations, 256 were administered by HKIAC. The total amount in dispute across all arbitrations was HK$43.1 billion (approximately US$5.5 billion). The average amount in dispute in administered arbitrations was HK$180.6 million (approximately US$23.2 million).
Arbitrations filed in 2022 continued to be predominantly international featuring parties from 63 jurisdictions. 83% of all arbitrations and 93% of administered arbitrations were international. The vast majority of the arbitrations was seated in Hong Kong, while other seats included England & Wales. Disputes were subject to 16 different governing laws.
Parties benefitted from provisions available under HKIAC’s Administered Arbitration Rules for multi-party multi-contract disputes. The 344 arbitrations submitted to HKIAC in 2022 involved a total of 997 parties and 470 contracts. Of the 344 arbitrations, 183 involved multiple parties or contracts. In more than a quarter of those cases, HKIAC’s joinder, consolidation, and single arbitration multiple contract provisions were invoked to streamline the process.
HKIAC appointed 159 arbitrators in 2022. Of the 159 appointments made by HKIAC, 43 (27%) were of female arbitrators and 48 (30%) were of arbitrators not previously appointed by HKIAC over the last three years.
HKIAC’s tribunal secretary service continued to grow in popularity given the time and cost efficiencies offered. HKIAC’s legal staff received 21 tribunal secretary appointments, reflecting another record year since the HKIAC introduced the service in 2014.
In 2022, HKIAC hosted 93 hearings, of which 75 were fully or partially virtual, and 18 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 2022, HKIAC processed 26 applications to 14 different Mainland Chinese courts under the Arrangement seeking to preserve evidence, assets, or conduct worth a total of RMB7.6 billion (approximately US$1.1 billion). In respect of those applications, the Mainland Chinese courts issued orders to preserve RMB1.26 billion (approximately US$185.8 million) worth of assets. Since the introduction of the Arrangement in October 2019, HKIAC has processed 86 applications and is aware of court orders preserving assets totalling RMB14.5 billion (US$2.1 billion). For further information about the HKIAC’s practice and experience under the Arrangement, please visit our website here.
HKIAC’s statistics for 2022 are published here.
Please click here to read the Korean-language translation.