On Perfection Of Chinese Foreign Investment Legislation Under The Influence Of The Trend In The New Development Of International Investment Law

Nowadays, promoted by economic globalization, the trend of international investment liberalization is stronger and stronger. In order to adapt to, accelerate and safeguard the trend, international investment law has new development, which are characterized by improved investment treatment, reinforced investment protection, enlarged freedom of market admittance and internationalization of investment disputes. Since the adoption of the reform and opening policy 25 years ago, China has gradually built up a foreign investment legislation system from scratch. Yet with China's entry into WTO and the development of the market economy system, the current foreign investment legislation, which was once important to utilizing foreign investment, are confronted with problems that becoming sharper and sharper.The key problems are: first, problems that are resulted from too many legislatures, two-track-model which does not accord with WTO legal system and the lack of unified foreign investment law with too many separate laws; second, the foreign investment legislation cannot correspond with the Company Law, third, the foreign investment legislation cannot coincide with WTO legal system in many aspects; finally, other legislations involve foreign investment still needed to be perfected. Now that the Chinese utilization of foreign investment is badly affected by the problems, solving the problems by perfecting the foreign investment legislation becomes an urgent task. The specific perfection should be like this: On legislative model, first, make a unified foreign investment law to clear up the disorder brought by separate legislations, save law enforcement cost, improve law enforcement efficiency and ensure the unification of foreign investment law system; second, reform the absolute two-track-model which formulates different lawsaccording to foreign and national investment, so that China can extend the National Treatment policy and encourage impartial competition between foreign and national investment on a better legal basis; finally, normalize legislative power and improve the foreign investment legislative transparency. While on content, China should use other countries' experience in investment legislation as a reference, on one hand, perfect the current foreign investment legislation to reduce its disagreement with the Company Law; on the other hand, determine the National Treatment Principle, enlarge market admittance, reinforce investment protection to meet the requirement of WTO legal system; meanwhile perfect other branch laws and the content that may lead to problems.The perfection of foreign investment legislation is a systematic work including both elimination and creation, both brave reformation and carefully planned enforcement. It should take into consideration not only practical and long-term interests of China, but also the trend of the new development of international investment law and the current situation of China. Thus, China may extent the investment liberalization gradually through the perfection work.This thesis states particularly and fully the trend of the new development of international investment law and takes this as the direction of the perfection of our foreign investment legislation, analyzes generally and objectively those problems of the current foreign investment legislation, explains scientifically the elements that result in the problems and the necessity of the perfection of the foreign investment legislation, and finally comes to the proposition of perfecting Chinese foreign investment legislation and formulating a unified, scientific, and advanced foreign investment legal system that coincide with international developing trend.