Shenzhen is charting an ambitious course to become a global maritime and legal center, leveraging its strategic position in the Greater Bay Area and proximity to Hong Kong and Macau. Recent developments in maritime arbitration and ship leasing highlight the city’s growing significance for international shipping companies, insurers, investors, and legal practitioners.

Since its establishment in 2021, the Shenzhen International Arbitration Court (SIAC) Maritime Arbitration Center has become a premier venue for resolving cross-border maritime disputes. In 2024, the center handled 165 maritime cases—a 50% increase compared with 2023—totaling approximately CNY 680 million, more than double the previous year. Shenzhen now leads China in maritime logistics arbitrations, highlighting its competitiveness in handling complex, high-value disputes.

The center hosts 130 specialized arbitrators from 23 jurisdictions, covering both common law and civil law systems, including experts from the UK, Hong Kong, Singapore, and Greece. Parties can select arbitrators who best suit their legal and commercial needs. Since its inception, SIAC has managed disputes involving nearly CNY 2 billion. A notable case involved a CNY 300 million vessel finance lease with complex equipment rights and parallel court proceedings, resolved efficiently and professionally.

Rule Innovation and Cross-Border Collaboration

Shenzhen is also innovating arbitration rules. Leveraging Hong Kong’s common law expertise, SIAC introduced a dual-track system offering institutional and ad hoc arbitration, addressing gaps in China’s domestic arbitration law. The “dual-city, dual-court, dual-legal-system” framework provides flexible procedures, competitive fees, and cross-jurisdictional enforceability.

Zhang Wenguang, Director of the Center for Marine Legal Studies at the Chinese Academy of Social Sciences, emphasizes that combining Shenzhen arbitration with foreign law and academic partnerships can attract global talent and enhance international recognition. According to Queen Mary University of London, Shenzhen ranks among the five most popular arbitration venues globally, and SIAC rules are among the world’s most widely adopted.

Expanding Influence and Expertise

The center engages in professional education and outreach, collaborating with leading universities and participating in annual maritime events in Shenzhen and Hong Kong. Over 300,000 professionals have accessed its courses on maritime law practices. This combination of expertise, global arbitrator selection, and rule innovation is positioning Shenzhen as a hub for efficient, high-quality maritime dispute resolution.

Rapid Expansion of Ship Leasing Assets

Since 2022, Shenzhen's Qianhai district has emerged as a national hub for ship leasing. A total of 48 projects have been launched, with cumulative assets of CNY 16.8 billion, ranking third nationwide. Recent expansions include CITIC Financial Leasing establishing four SPVs and China Construction Investment Leasing adding two SPVs, acquiring 64,000 DWT ULTRAMAX bulk carriers registered at Qianhai.

The district’s ship registry grew from one vessel in October 2024 to 13 vessels this year, totaling 415,000 DWT. Global shipping and vessel management leaders have already set up operations, reflecting Qianhai’s rising international appeal.

Diversified Fleet and Leasing Models

Qianhai's projects cover a wide spectrum of vessel types, including bulk carriers, product tankers, offshore wind installation vessels, cable-laying ships, and LNG carriers. Both financial and operational lease structures are utilized, with projects settled in USD and RMB, encompassing new-builds and second-hand ships.

Integrating Innovation and Sustainability

Shenzhen is integrating environmental innovation into its maritime sector. Collaboration with Hong Kong includes methanol-fueled vessels and other green initiatives, forming a cross-border “leasing + green energy” model. Partnerships with shipbuilders, renewable energy firms, and research institutions aim to explore technology-driven leasing models, attracting international investors and facilitating entry into emerging maritime sectors.

Implications for International Stakeholders

For shipping companies, insurers, maritime lawyers, and investors, Qianhai offers strategic advantages: access to a growing vessel leasing market, a credible legal framework, and participation in innovative, sustainable maritime projects. The district is becoming a convergence point for legal, financial, and operational excellence in the shipping industry.