Abstract:

China's Arbitration Law is undergoing dynamic reform, with the 2021 Draft for Comments prioritizing alignment with international standards, while the 2024 Draft Revision represents a notable retreat, featuring relatively limited adjustments. The Draft for Comments introduced significant revisions to the provisions on setting aside international arbitral awards, emphasizing alignment with the UNCITRAL Model Law to enhance their recognition and enforcement. However, these reforms were largely omitted in the final Draft Revision. This analysis traces the reform trajectory concerning the annulment of international arbitral awards, addressing key changes such as the unification of annulment grounds with domestic awards, procedural fairness enhancements, and alignment with international standards regarding annulment grounds, competent authorities, and time limits. Additionally, the essay evaluates the legality and rationality of these revisions from comparative legal perspectives, authoritative opinions, and practical considerations. While the reforms represent a modest step toward modernizing China's arbitration system, they remain incomplete, reflecting the need for continued efforts to bridge the gap and move closer to building a developed arbitration jurisdiction in line with international standards.

Key words: Arbitration Law Reform; Draft for Comments on the Arbitration Law; Arbitration Law (Draft Revision); UNCITRAL Model Law; Annulment of international arbitral award; Dual-tier; Single-tier