Abstract

Arbitration is a dispute resolution mechanism where autonomy is the essence and efficiency is the comparative advantage, and where fairness is not the primary consideration, and judicial review is an important way to maintain the fairness of the award. However, in our legal context, different standards are applied to the setting aside of international and domestic commercial arbitration awards, resulting in an "inverse of fairness and efficiency". In order to resolve this disagreement, the viable solution is to improve the efficiency of domestic commercial arbitration. Specifically, the distinction between international and domestic commercial arbitration should be removed, and the relevant regime for international commercial arbitration should be applied to domestic commercial arbitration. This is a possible way to change the definition of international commercial arbitration because of the similarity in nature between international and domestic commercial arbitration, and because the current theoretical research on the subject is unclear and the definitions are confusing. In addition, the current economic development also calls for the efficiency of domestic commercial arbitration. What is more, the convergence of commercial arbitration has been in place since the New York Convention, which transformed the issue of "internationality" into one of "nationality". The Arbitration Law (Draft) provides a good institutional guarantee for the enforcement and supervision of commercial arbitration after the merger.

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