(hereinafter referred to as the Arbitration Commission) to settle disputes that may arise in contracts and transactions in foreign trade, particularly those between foreign firms, companies or other economic organizations on the one hand and Chinese firms, companies or other economic organizations on the other. [*1] 2. The Arbitration Commission shall take cognizance of disputes in foreign trade on the basis of the relevant contracts, agreements and/or other documents concluded between the disputing parties. 3. The Arbitration Commission shall be composed of 15 to 21 members to be selected and appointed by the China Council for the Promotion of
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