The Development Of The Theory Of International Commercial Contract Law Applicable Rules

The practice of international trade has developed enormously in the recent years.Following this fact, the legislation in choice of law relating to contracts with foreignfactors faces great pressure. As a result, China’s legislation referred to principles inthe legislation and practice of western countries’, such as parties’ autonomy and theclosest connection.In the western world, European countries and the U.S. shared the traditionalapproaches but departed in their recent development. The U.S. adopted some radicaltheory such as the interest analysis and the European countries maintained thetraditional approaches although they modified them to avoid the rigidness inapplication. These modifications are reflected in2recent documents: RomeConvention and Rome I Regulation.China’s new legislation including The Law of Application of Law forForeign-related Civil Relations of the PRC reflects the recent evolution and it is agood attempt although some flaws do exist.