Established in 1956, the China International Economic and Trade Arbitration Commission (CIETAC) is the earliest foreign-related commercial arbitration institution in China. CIETAC has accepted more than 50,000 foreign-related arbitration cases, with parties from more than 150 countries and regions around the world. Arbitration awards are widely recognized and enforced around the world, and it has been rated as the top five most popular arbitration institutions in the world one. In 2018, the amount of disputes involved in the case exceeded the RMB 100 billion mark for the first time, and has exceeded RMB 100 billion for five consecutive years since then.