Study On Legal Construction Of China Strategy Of Overseas Investment Development

With the continuous development of human society itself, the advance of international economy and cooperation become the main stream instead of the war and conflicts in the world. Accompanied by the development of science and technology, communication between peoples has transcended the limitation of the cultural differences and political boundaries. On the other hand, with the recovery of the global economy, international investment emits a new wave of high tide. However, the developing countries and emerging economies should be ready to seize the opportunities before it come. As the largest developing country, through unceasing deepening of reform and open, in the dramatic world economy change triggered by science technicalization and informationization, China should leaped at the unprecedented opportunities to rapidly transformed the mode of its economic growth, innovated the industrial structure, construct a more fair and reasonable international mechanism. Nowadays, China is an important part in the economy world, and China’s overseas investment appears in full swing. Therefore, it is necessary for China to investigate and formulate the integral overseas investment strategy, to devise and revise the domestic and international legal system. so as to guarantee implementation of the legal mechanism. Whereby China exploit China’s outbound market, encourage China’s outbound investment, protect the interests of China’s outbound investment, preserve the foreign investors’ legitimate rights and interests, and facilitate all relative nations’ economic and social development.With the historical analysis method, through reviewing the historical procedures of China’s overseas investment-- from scratch, to only seeking interest, then to multidimensional strategic design,this doctoral dissertation has analyzed the development process of China’s overseas investment strategy; the historical development relationship between the medieval overseas investment legal regulation, and the growth of China’s economy, as well as international political relation. It has found With the method of comparative analysis, in the perspective of strategic, the essay has examined the overseas investment legal system, by comparison of legislative standpoint and the legislative quality of different countries, and that of different international investment legal mechanism, China’s overseas investment legislation and international investment legislation naturally finds out their connecting points or the similar trend. Finally, with normative analysis, in the perspective of overseas investment legislative strategy, by reading up on the legal norm of China’s domestic law and international law, and analyzing the acceptability and compatibility of current legal provisions and the situation of the overseas investment in China, the article comes up with development trend which is conformable to the China’s overseas investment and propose amendments corresponding to the current situation.The arrangements of the dissertation are as follows:Chapter one, “Historical evolution and legal regulation of China’s overseas investment strategy”, has carded the history development of China’s overseas investment, and puts forward the “going out” strategy of China’s overseas investment is an embodiment of the current international political and economic situation, and of China’s comprehensive strength. By indentifying the five phases of China’s overseas investments – initiation, primary progress, gradual increase, high-speed steady increase and rapid development, and by looking into the legislation and practice of the contemporary China’s overseas investment, the essay considers that format express promoting, guaranteeing and supervising China’s outbound investment, is the optimal choice for China’s overseas development strategy.In the second chapter, making legal strategic adjustment to new China’s overseas investment strategy, based on the analysis of the status in quo of China’s overseas investment, the author has examined the economic theory about overseas investment and the theory of international political relations, forecasts development trend of China’s overseas investment, and indicates that legal strategies corresponding China’s overseas investment strategy with horizontal, vertical and multi-level development, should also establish the multidimensional strategic goals and different strategic levels. In a mature global multilateral investment mechanism, China should play an active participant, accept the rules and philosophy from these mechanisms, but give the voice to their own will. In the consultative and constructive phase, in global multilateral investment mechanism, China should play the rational builders, but adhering to the core national interests, demising strategic interest, on the one hand coordinating mechanism, on the other hand actively promoting to form mechanism. In the regional and bilateral or multilateral investment mechanism, China should play an active advocate, initiating to draw up investment rules or provisions, managing to negotiation. On the other hand, this chapter has discussed general principles and special principles to be followed by overseas investment legal construction and some main important tasks.In third chapter, titled “enacting domestic law relative to China’s overseas investment strategy”, by normative analysis of domestic law related to China’s overseas investment strategy, the essay analyzes how to the realize the function of three different legal systems--the promoting, the management and the safeguard,and as well relates realistic problems of their absence。It has been proposed that the current legal system of overseas investment promotion should be perfected from several aspects, such as tax incentives, financial support, technical assistance, and Information services; China’s legal system of overseas investment management should be completed from two aspects, such as reform of approval system and strengthening the post-supervision; China’s legal system of overseas investment guarantee should be built by construction of a comprehensive overseas investment insurance system.The fourth chapter, “the approaches to bilateral investment treaty for China’s overseas investment strategy”, illuminates the importance of Bilateral Investment Treaties based on the international investment law system, and presents that BITs serves as a link between past and future, a function of balance weight in legal construction of China’s overseas investment. In this chapter, through comparing the two types of signing BITs between China and the developing countries, and between China and developed countries, the author shows that taking an open attitude to signing BITs can accelerate China’s overseas investment, adopting flexible way to employ BITs can meet the need of system design so as to ensuring the interests of China’s overseas investment.In fifth chapter,“The approaches to multilateral investment treaty for China’s overseas investment strategy”, by studying free trade area, and non-free trade area and as well the development of universal international investment treaties, the author deem that it is priority in setting out geopolitical multilateral investment rules, because of the prominent characteristics of China’s geopolitical economic and trade status; China should participate in making the multilateral investment rules of free trade area, based on the successful experience of China’s participating in making free trade investment rules; China should take dominant role in making multilateral investment rules with other developing countries out of “peer” perspective, since the history of China’s long-term cooperation with other developing countries as well as on necessity of China’s investment in developing countries interests. Finally, based on the analysis of recently growing trend of universal investment rules, the essay comes up with China’s overseas investment legal construction correspondingly.