Research On China's Overseas Investment Insurance Scheme

The　overseas　investment　of　our　country　develops　fast　since　the　beginning　of　the　Reform,　and　it　effectiveness　proofs　its　success.　But　Chinese　investors　also　encounter　quite　a　few　difficulties　and　losses　in　the　course　of　overseas　investment,　which　calls　for　protection　from　the　country.　Resting　on　practices　of　main　capital　export　countries'　overseas　investment　measures,　the　China　State　Council　entitled　China　Export　Credit　Insurance　Corporation　to　establish　overseas　investment　insurance　scheme　in　the　year　of　2001　and　started　its　practice　in　the　year　of　2003.　Papers　and　writings　in　our　country　on　overseas　investment　insurance　scheme　mainly　focus　on　introduction　of　other　countries'　schemes　or　assumption　of　our　country's　scheme,　but　rarely　aim　to　discuss　about　the　present　scheme　in　China.　The　paper　tries　to　summarize　our　country's　present　scheme　and　compares　with　schemes　of　other　countries　and　the　MIGA,　then　evaluates　and　critiques　the　scheme　in　our　country.　The　paper　holds　that　the　scheme　in　our　country　in　the　main　belongs　the　model　of　America;　the　biggest　obstacle　of　its　development　rests　on　the　absence　of　legislation　in　this　field;　there　are　shortages,　absences　and　also　merits　with　the　specific　stipulations;　the　development　of　the　overseas　investment　insurance　scheme　needs　the　improvement　of　the　scheme　itself　and　also　needs　the　construction　of　relative　measures　to　achieve　the　value　of　the　scheme　and　accelerate　the　overseas　investment　of　our　country.　The　paper　introduces　the　basic　definitions　and　principles　of　overseas　investment　insurance　scheme　and　the　practice　in　our　country,　summarizes　reasons　for　setting　such　a　scheme,　the　course　of　founding　and　the　main　contents.　Then　the　paper　researches　the　legal　base　of　the　scheme　and　suggests　for　legislation;　comments　on　the　basic　features　and　specific　contents　and　analysis　the　shortages　and　merits　of　the　scheme　through　comparison　with　scheme　of　other　countries　and　the　MIGA;　suggests　that　in　order　to　achieve　better　effects　we　shall　pay　attention　on　relative　measures.　The　paper　here　divides　into　five　parts:　The　Chapter　One　is　the　introduction　of　overseas　investment　insurance　scheme.　This　chapter　gives　definitions　of　overseas　investment,　protection　of　overseas　investment　and　overseas　investment　insurance　scheme,　and　discusses　the　definition,　characteristics,　effects　and　history　of　the　overseas　investment　insurance　scheme,　thus　provides　a　foundation　for　the　following　discussion.　The　Chapter　Two　is　the　summarization　of　our　country's　practice　on　overseas　investment　insurance.　The　chapter　introduces　the　basic　information　of　overseas　investment　of　our　country,　expounds　the　conditions　of　political　risks　to　the　overseas　investment,　holds　the　protection　from　international　conventions,　bilateral　treaties　and　internal　legislations　are　not　sufficient　and　the　insurance　scheme　will　be　more　important　because　more　investment　will　be　exported　to　developing　countries.　Then　the　paper　introduces　the　course　of　founding,　and　summarizes　the　practice　in　our　country.　The　Chapter　Three　is　the　discussion　of　legal　resources　and　basic　features　of　our　country's　overseas　investment　insurance　scheme.　This　chapter　summarizes　the　legal　resources　first,　expounds　the　necessity　of　legislation,　and　suggests　draw　up　Overseas　Investment　Insurance　Act　according　to　the　conditions　of　country　and　comparison　with　other　countries.　Then　discusses　the　type　and　model　of　the　scheme,　and　suggests　adopts　bilateral　guarantee　type,　and　confirms　the　existence　of　policy　company.　The　Chapter　Four　is　researches　on　specific　contents　of　our　country's　scheme.　From　three　parts　of　eligible　insurance,　risk　coverings,　applying　and　claiming,　and　comparison　with　other　country　and　the　MIGA,　the　paper　comments　shortages　and　merits　of　the　scheme　and　suggests　for　improvement.　The　Chapter　Five　is　the　suggestions　for　related　measures.　This　chapter　suggests　improve　circumstance　for　the　scheme　from　the　longitudinal　direction　and　traverse　direction.　For　the　longitudinal　direction,　legislations　in　the　overseas　investment　and　outwards　insurance　shall　be　improved;　for　the　traverse　direction,　attentions　shall　paid　to　overseas　the　Overseas　Investment　Information　Center,　association　on　overseas　investment,　bilateral　investment　treaties,　and　reasonable　and　effective　usage　of　diplomatic　protection.