On January 4, 2015, the signing ceremony of the Host Country Agreement on the Conduct of Dispute Settlement Proceedings by the Permanent Court of Arbitration (PCA) in the Hong Kong Special Administrative Region (SAR) of China was held in Beijing. Vice Foreign Minister Liu Zhenmin, representing the central government, signed the Host Country Agreement with Secretary-General of the PCA Hugo Hans Siblesz. Secretary for Justice Rimsky Yuen of the Hong Kong SAR signed the Memorandum of Administrative Arrangements with the PCA. More than 100 people attended the ceremony, including representatives of such departments as the National People's Congress, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Public Security, the Ministry of Justice, the Ministry of Commerce, the Hong Kong and Macao Affairs Office of the State Council, and the Legislative Affairs Office of the State Council, as well as some foreign diplomatic envoys in China and celebrities in the arbitration circle.

Vice Foreign Minister Liu Zhenmin said in his speech that the central government's approval of the conduct of arbitration activities by the PCA in the Hong Kong SAR is an important measure to practice the "One Country, Two Systems", maintain Hong Kong's long-lasting prosperity and stability, and enhance Hong Kong's role as the regional legal and arbitration center and an international commercial hub. The central government will firmly stick to implementing the "One Country, Two Systems", and steer and support the Hong Kong SAR from the diplomatic aspect in carrying out foreign exchanges and cooperation, so as to gain more opportunities, create larger numbers of positive factors, and foster a more favorable external environment for the realization of long-lasting prosperity and stability in Hong Kong. Liu Zhenmin stressed that the PCA plays an important role in settling international disputes by peaceful means. He said that China has always taken arbitration as an important means to settle disputes in the fields including economy, trade, finance and investment. China will keep on supporting peaceful settlement of international disputes and promoting the international rule of law together with all parties.

Secretary for Justice Rimsky Yuen of the Hong Kong SAR said that the conduction of arbitration activities by the PCA in the Hong Kong SAR benefits from Hong Kong's special legal status under the "One Country, Two Systems" as well as the central government's strong support and assistance. It is believed that Hong Kong, with its well-established legal system, rich arbitration practice and outstanding legal talents, will provide quality service for the PCA's arbitration activities and become the center of dispute settlement in the Asia-Pacific region.

Secretary-General of the PCA Siblesz said that the conduction of activities by the PCA in Asia, which boasts vibrant economy, conforms to the development trend of the times and meets the practical needs of traders and investors to solve disputes. He will be pleased to see Hong Kong become an important arbitration center by virtue of its own advantages.

The PCA was established in The Hague of the Netherlands in accordance with the Convention for the Pacific Settlement of International Disputes enacted in 1899 and revised in 1907, currently comprising 115 member states. China is an original member of the PCA, and has resumed activities in the PCA and appointed Chinese arbitrators since 1993. Vice Foreign Minister Liu Zhenmin is one of the incumbent arbitrators.