| A new generation of investment policies reflects a change in policy's trend: further investment liberalization and the promotion of foreign direct investment systems are simultaneously developed with systems that restrict investment in pursuing public policy objectives.Such a trend reflects the recognition of liberalization that if liberalization aims to promote sustainable development goals,an appropriate regulatory or institutional framework should be established at the same time.The new generation of investment policies are reformed at both the international and national levels to create synergies that are consistent with economic development goals or industrial policies.At the international level,in order to deal with the complex systemic issues of the international investment agreement system,there is a question of how to design and incorporate host country regulatory rights through the terms of the agreement.At the domestic level,combining development strategies and investment policies to deliver investment to key areas that could enhance productivity and international competitiveness,while maintaining coherence with the host country's policy space aimed at achieving the overall development goals,are important channels to fulfill sustainable development.Appropriate realization of industrial policies in the FDI acess regime is an entry point for the combination of development strategy and investment policy.Industrial policy used to be a highly controversial concept,but new progress has been achieved in research and practice in the field of industrial policy in the past decade.Economists have made in-depth research for effective industrial policies,starting from the dissemination of knowledge,promoting technological development,and eliminating information asymmetry,providing a new perspective for the government to implement industrial policies.After the global financial crisis,various governments have increasingly adopted industrial policies to address socio-economic issues and to deal with negative effects of globalization,as an important policy tool to address economic growth and to promote sustainable development.Under the trend of investment liberalization,the FDI access regime has become the main approach to reflect industrial policies in investment policies,but the realization of industrial policies is not arbitrary.International investment law encourages countries to combine industrial policies and investment policies for sustainable development,but this combination is also restricted by existing rules.Taking the industrial policy as the starting point,this paper tries to demonstrate the way in which the foreign investment system restricts industrial policies and the specific forms of industrial policies implemented in the FDI access regime,and thus to embody the abstract industrial policy concept in the FDI access regime.In addition to the introduction,the main part of the thesis is divided into five chapters.The first chapter is the study of industrial policy in the FDI access regime.This chapter starts from the selection of different modes of FDI access system,and it analyzes the scope and value of industrial policies in the FDI access regime.On this basis,the chapter studies the relationship between industrial policy and FDI access regime,and proposes that the relationship between foreign investment and industrial policy regulation is dualistic,i.e,the FDI access regime not only reflects industrial policies but also restricts industrial policies.At the same time,the development of the concept of admission and establishment promotes the evolution of industrial policy,mainly reflected in the concept of foreign investment liberalization to promote the upgrading of industrial policy capacity.The development concept embodied in FDI access recognizes the value of industrial policy,and the concept of foreign investment socialization promotes the reform of industrial policies.Under the complicated multi-level relationship between industrial policy and FDI access regime,the impact of FDI access regime on industrial policy space is proposed.The second chapter and the third chapter revolve around the path of fulfilling industrial policies in the FDI access regime proposed in the first chapter,respectively demonstrating the fulfillment of industrial policy in the negative list and the fulfillment of industrial policy in the foreign investment security review system.They are the main body and core contents of the paper.The second chapter discusses the fulfillment of industrial policy through the negative list.Negative list is the most direct way to achieve industrial policy in the FDI access regime,which can be divided into negative lists in IIAs and negative lists in domestic legislation.This chapter discusses the fulfillment of industrial policies in two different types of negative lists.Different countries have different expressions of negative lists in IIAs.The way in which countries retain the industrial policy space through negative lists is analyzed by studying the different forms of non-conformance measures in IIAs.Meanwhile,it analyzes the negative list of foreign investment established by developing countries in the form of domestic legislation,and it studies the intrinsic link between this form of negative list and industrial policy.The third chapter discusses the realization of industrial policy through foreign investment security review system.After the financial crisis,foreign investment security review entered a stage of frequent adjustments,and the traditional characteristics of foreign investment review have undergone significant changes.By studying the changes in the representative EU and US foreign security investment review systems,the paper demonstrates the ways in which developed countries have infiltrated their own industrial policies in foreign investment security review systems.The foreign investment security review legislation of developed countries strengthens the attention to other countries' industrial policies,which is not only the embodiment of their own industrial policies,but also affects the industrial policies of other countries.By integrating industrial policies into a safety-centered policy system,developed countries have better achieved industrial policy objectives in the field of FDI access.At the same time,it should be noted that the characteristics of developed countries' own industrial policies are more suitable for their integration with foreign investment review systems.The fourth chapter studies the restriction on industrial policy imposed by the prohibition of performance requirements,and try to search the policy space under prohibition of performance requirements.The performance requirements and industrial policies are inherently consistent.The prohibition of performance requirements on industrial policies can be divided into two aspects: international investment agreements and WTO-related investment-related rules.They have different restriction characteristics for industrial policies.From the perspective of international investment agreements,prohibition rules of performance requirements are the main way to restrict industrial policies,and its scope is constantly expanding.Meanwhile,factors such as the expansion of the scope defined by foreign investment and the uncertainty of indirect levying standards have also resulted in the restriction of expansion of the industrial policies scope by investment agreements.The prohibition of performance requirements directly limits industrial policies,but such restriction also extends to tax policy and research and development requirements.But we still can find some policy space through different provisions and the exceptions.Based on relevant studies,the fifth chapter discusses the realization path of China's industrial policy through the FDI access regime.After reviewing the development history of China's industrial policy and sorting out the conflicts between China's industrial policy and the international investment law system,it proposes to adjust domestic industrial policies in the field of foreign investment legislation and foreign investment agreements.In the IIAs,the industrial policy norm system that is beneficial to China's interests should be constructed by selectively accepting restrictions on industrial policies.Negative lists should be properly designed by setting general exceptions and major safety exceptions terms,clarifying the scope of application of non-discrimination treatment,to better retain the industrial policy space. |
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