Hong Kong Secretary of Justice: The implementation of the Sales Convention in Hong Kong will help facilitate more transactions

　　China News Service, Hong Kong, December 28. Zheng Ruohua, the Secretary of Justice of the Hong Kong Special Administrative Region Government published a blog on the 28th, stating that the country’s 14th Five-Year Plan supports the development of the Hong Kong Special Administrative Region as an international trade center. The Convention on Contracts for the Sale of Goods (Sales Convention) is hailed as "the most successful entity unifying commercial law treaty."

Although the CISG took effect in China as early as 1988, it is still not applicable in the Hong Kong Special Administrative Region.

In line with international practices and the "14th Five-Year Plan", the implementation of the CISG in the Hong Kong Special Administrative Region is in the best interest of Hong Kong people and will help facilitate more transactions.

　　Zheng Ruohua said that the CISG currently has 94 contracting states, and more than half of the 20 largest trading partners of the Hong Kong Special Administrative Region are contracting parties to the CISG.

Therefore, companies in the Hong Kong Special Administrative Region need to be familiar with and be able to adopt the CISG as the guiding rules for their sales contracts, because it provides a fair business environment.

　　Zheng Ruohua said that nearly half of the countries in the “Belt and Road” are also parties to the sales convention. If the sales convention is extended to the Hong Kong Special Administrative Region, a unified law can be used to regulate most of the international sales of goods by Hong Kong companies, thereby providing more certainty. And predictability, leading to more transactions.

　　Zheng Ruohua said that the CISG can provide a modern and unified system for international sales contracts to resolve applicable legal issues in different countries and regions.

Extending the Sales Convention to the Hong Kong Special Administrative Region will encourage more practitioners to improve their ability to deal with international trade disputes and help strengthen the Hong Kong Special Administrative Region's position as an international legal hub.

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