Beijing has taken a more proactive approach in international affairs in recent years, expanding its influence in global bodies such as the United Nations and the World Health Organization -- especially as the United States has taken the opposite direction under President Donald Trump.

The move is also being seen as an attempt to shore up Hong Kong's reputation as a leading place to conduct business, after Beijing's imposition of a wide-ranging national security law in 2020 shook confidence in the impartiality of the city's legal system.

Initiated by Beijing, the establishment of the International Organization for Mediation Convention (IOMed) was co-signed by 31 other "like-minded" countries ranging from Serbia and Pakistan to Papua New Guinea and Venezuela.

"The birth of IOMed will help transcend the zero-sum mentality of 'win or lose', promote the amicable resolution of international disputes, and build more harmonious international relations," said China's foreign minister Wang Yi, who presided over the signing.

Hong Kong's government said IOMed will be the first intergovernmental body dedicated to mediation, while Wang said it would "fill a gap in the field".

Mediation is when a neutral third party intervenes into a dispute to help two sides negotiate a jointly acceptable resolution to a conflict, as opposed to, for example, political bargaining or litigation.

The body will mediate disputes between countries, between countries and individuals from another country, and between private international entities.

IOMed "is on a par with" the United Nations' ICJ and the Permanent Court of Arbitration in The Hague, said the Hong Kong government.

One of the latter's more well-known rulings was in favour of the Philippines against China over territorial claims in the South China Sea.

Beijing refused to take part in the proceedings and has ignored the judgement.

Paul Lam, Hong Kong's secretary for justice, wrote in an article that IOMed's establishment came as "hostile external forces are attempting to de-internationalise and de-functionalise" Hong Kong.

IOMed will start operating by the end of this year or early 2026.