1) The document outlines an arbitration clause referring disputes to the International Court of Arbitration of the International Chamber of Commerce to be settled under the ICC Rules of Arbitration.
2) The arbitration will take place in the named place, and the language will be both Chinese and English with acceptance of documents in English.
3) Key elements that must be included are the specific arbitration court, the rules that will be followed, designation of the place, and how the arbitrator will be selected. Failure to properly name the court or rules could invalidate the clause.