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Abstract
This article examines the role, significance, and advantages of mediation as an alternative dispute resolution mechanism in the context of globalization and the growing intensity of economic and commercial relations. Particular attention is paid to the historical development of the mediation institution in China, the achievements attained through mediation-based dispute resolution, and the objectives underlying the adoption of the Regulation on Commercial Mediation. The article further explores the legal nature, essence, and fundamental principles of commercial mediation activities. It analyzes state support measures for commercial mediation, the conditions and procedures for establishing commercial mediation organizations, the requirements applicable to their charters, and the legal framework governing their operation. In addition, the study examines the qualification requirements imposed on commercial mediators, the procedures for conducting mediation, and the legal consequences arising from either the successful settlement of a dispute or the failure of the parties to reach an agreement. The article also discusses the mechanisms for formalizing and enforcing mediation settlement agreements, the interaction between commercial mediation organizations and local government authorities, as well as the legal consequences of non-compliance with the requirements of applicable legislation. The study concludes by emphasizing the relevance and necessity of a comprehensive comparative legal analysis of commercial mediation practices based on international experience.