Chinese Investors In Foreign Investment Law System Of Study

The dissertation is focused on the research on the legal security system on outward foreign direct investment (hereinafter OFDI) of Chinese investors. Accompanied with the expansion and extension of OFDI of Chinese investors, Chinese benefits in OFDI have increased significantly. It is essential to make further research and prompt improvement on the legal security system of OFDI. The "overseas investment" in this dissertation is referred to OFDI.The dissertation is of six chapters. Chapter I defines some important concepts such as OFDI, Chinese Investors, legal security system and fundamental legal relationships in OFDI and makes an introduction to current status, characteristics, theory and legal risks of OFDI of Chinese investors. Chapter II is focused on the origin of law of legal security system of OFDI at the three levels of multilateral agreements, bilateral agreements and domestic laws. Chapter III, Chapter IV, Chapter V and Chapter VI, through respectively against the secured investment, the secured Chinese investors, the secured coverage, the secured remedy mechanism and other key issues, are based on the interpretation of the relevant provisions, combined with the practice of international investment arbitration cases, and focused on the existing problems on theory and practice, put forward to some thoughts and recommendations. Last but not the least, the dissertation looks back on the general situation of China rather than the specific issues, and makes the conclusion.This dissertation holds that the legal security system on OFDI of Chinese investors is a grand system with many aspects of problems and risks, but this dissertation can only select some key issues to explore because of the limited space. Although the multilateral and bilateral agreements acceded to or signed by China and domestic laws of China include some provisions related to the legal security on OFDI, most of which is from the perspective of China as a host state rather than from the perspective of China as a home state. This dissertation, from the perspective of China as a home state, emphasizes that the Chinese government has to pay more attention to the benefits of Chinese investors in OFDI, and improves the relevant legal security system at the three levels of multilateral agreements, bilateral agreements and domestic laws to provide better protection on OFDI for Chinese investors, among of which the level of bilateral agreements is of best significance. To improve the legal security system on OFDI to protect the benefits of Chinese investors, we should clarify the basic concepts of Chinese investors and OFDI secured under the legal security system. The OFDI in this dissertation is referred to direct investment of Chinese investors in other countries and regions (including in Hong Kong, Macau and Taiwan regions), and does not include indirect investment that solely acquires securities or debts instruments without any intention to control or manage the investment. The Chinese investors in this dissertation are referred to the investors of the mainland of the People's Republic of China (the investors of Hong Kong, Macau and Taiwan excluded) . The legal security system in this dissertation is only referred to the legal security at the level of Chinese government, excluding arrangements for risk prevention and benefit security at the level of investors.After the clarification of the fundamental concepts and the origin of law of the legal security system, the dissertation is focused on the secured investment, the secured Chinese investors, the secured coverage and the secured remedy mechanism. In particular, the dissertation divides the secured coverage into three phrases, such as admission of investment, operation of investment and exiting of investment according to the cycle of investment activities, and respectively discusses admission, treatment, funds transferring and expropriation and nationalization secured in the three phrases. The dissertation holds that the OFDI insurance mechanism and the investment dispute settlement mechanism are of the two complementary parts to each other, and of necessity to build up the fundamental security for OFDI.So far, the existing provisions in multilateral agreements, bilateral agreements and domestic laws show that China has not paid enough attention to protect the benefits in OFDI. Pursuant to the existing provisions, there are still some "ambiguities" and "overlaps", which cause the differences and difficulties in application of law. Concurrently, China knows little about the practice of the Multilateral Investment Guaranty Agency (hereinafter MIGA) and the International Center for Settlement of Investment Disputes (hereinafter ICSID) and pays little attention to the development of specific key issues by the ICSID tribunals because the Chinese investors have not yet used the MIGA and the ICSID to make up their losses.Combined with the existing provisions and the international investment arbitration practice, China should improve the legal security system on OFDI at the three levels of multilateral agreements, bilateral agreements and domestic laws, in particular, focusing on bilateral agreements. China should attach great importance to the interests of OFDI and improve the relevant regulations, take into account Chinese benefits and demands in absorbing foreign direct investment, and distinguish different countries and different investment projects and apply to different methods in order to achieve the best allocation of resources, maximize the protection for Chinese investors and perform the effective supervision.