| In the commercial business field, due to the change of objective circumstances, the change of different conditions of interested parties, the attitude of handling matters and the influence of many complicated factors, disputes among interested parties can hardly be avoided. There are some common ways to solve disputes; negotiation, conciliation, arbitration and proceeding. Different ways mentioned above have different characteristics, and relatively, arbitration is the most effective way to solve the problems of civil and commercial disputes. The more obviously outstanding point is that arbitration is voluntary, professional, confidential and final award. The arbitration consequence can be implemented with enforcement according to the law, and it can also be implemented effectively outside country. In accordance with the above reasons, arbitration has become the important way of solving economic disputes in developed countries.Arbitration was relatively simple form to content in early stages, there was no formation of system. Arbitrator solves the disputes according to the interested parties' standard of agreement, fairness and kindness. The implementation of arbitration mainly depends on the interested parties' trust in the arbitrator and their morality to fulfill the judgment. It is not restricted by the law. When arbitration appears as the way to solve these types of disputes. It reflects strong adaptability and vitality. As the rapid development of transportation, productivity and especially the economic commercial products, arbitration system has gradually established ways of formalization, institutionalization and legislation. It is practically improved to form the arbitration legal system. The development of arbitration until the present, the trading transactions and international economic relation between countries and regions are not only becoming more and more frequent, it also enhances the countries to set up the international arbitral institution. Although many countries set up arbitration system, each country or region arbitration hasdifferent system according to their own political system and cultural tradition. In the same way, the two-strait and four places has formulate their unique arbitration system to satisfy their own development. Some specific contents and basic law are not similar. When some disputes appear, it has to spend more time and money to solve the problems through the judge procedures, especially for those minor civil disputes, the interested parties hope to solve it through the procedure of arbitration system that can save time and money.This text uses contrast way to study the most important parts of arbitration system in the two-strait and four places, such as arbitration principle, arbitral institution, arbitration agreement and arbitral Award. Though this study, the difference of the arbitration system in different countries and regions can be showed systematically. It is hoped that through the study and analysis of the two straits, four places and foreign countries, applying the reasonable content and scientific ways to suggest ways to substantial and improve the arbitration system in the four places. In order to complete this text and reach the target, and in Beiuing, Taiwan, Hong Kong and Macau, through the internet, we have collected lots of information regarding arbitration of different places in the world. Though the information collected and undergone detailed comparison, analysis and study, and the characteristics and differences can be concluded among the four places, especially the shortcomings of the arbitration system in Macau. Lastly, based on the shortcomings, some ways of improvement are proposed, providing some theory to set up and improve the arbitration system in Macau. So, the arbitration system in Macau can finally be widely used and it can make Macau become one of the most important international arbitration institutions. In addition, through the advantages of common points in legal constitution in Macau and other European countries, Mac...
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