The Department of Justice welcomed the 2021 International Arbitration Survey released by Queen Mary University of London today in which Hong Kong was ranked the third most preferred seat for arbitration worldwide.

Secretary for Justice Teresa Cheng said Hong Kong's strength in dispute resolution is premised on its infrastructure, business opportunities and pool of talents.

"Our Judiciary is independent and impartial while our common law system provides a degree of certainty and predictability for investors and the international business community."

The department noted that the unique advantage under "one country, two systems" allows Hong Kong to enter into the game-changing interim measures arrangement with the Mainland which took effect in 2019.

Hong Kong is the only jurisdiction outside the Mainland where parties to arbitral proceedings would be able to apply to the Mainland courts for such interim measures.

The availability and enforceability of interim measures plays an important role in choosing the seat for arbitration.

Hong Kong has a pool of experienced professionals with international perspectives not just in legal and dispute resolution services but also in areas such as financial services, accounting, engineering, shipping and information technology, the department added.

"The result of the 2021 International Arbitration Survey is a recognition of our long-standing and unwavering commitment to the promotion of arbitral services," Ms Cheng said.

"However, we should not be complacent about our existing competitive edge.

"We endeavour to explore new initiatives with a view to consolidating Hong Kong's status as an international legal hub for legal, deal-making and dispute resolution services."