A long-awaited agreement on reciprocal recognition and enforcement of commercial court judgments between Hong Kong and the mainland is close to being signed, Hong Kong Secretary for Justice Wong Yan-lung told the South China Morning Post. Wong said an agreement had "been largely reached" with his mainland counterpart, Chief Justice Xiao Yang, president of the Supreme People's Court, following a meeting in Beijing. He expects the agreement, which will apply only to commercial judgments and cases in which the parties have agreed not to appeal or the time for appeal has passed, to be signed within the year. The agreement should strengthen Hong Kong's status as the international legal services hub for China litigation, as overseas investors would be able to litigate in Hong Kong in commercial disputes with mainlanders. Some Hong Kong lawyers have expressed concerns over mainland judgments applying in Hong Kong, citing concerns over processes and quality.
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