Research On The Legal System Of Overseas Investment Insurance In China

Overseas investment insurance system plays a role in the protection and encouragement for their own private foreign investment, via the political risk prevention and the subsequent compensation mechanism. The core of the system is the right of subrogation, specifically through insurance agency established by the Government to provide legal protection for the political risks arising from foreign investments.The United States is the country which creates the first overseas investment insurance system, After half a century of development change, the overseas investment insurance system has been optimized in a more mature and complete state. At present, with American and European countries for typical cases, the international community has dozens of countries. United States, Japan and Germany, the three countries represent the three different legislative models. And after the reform and opening of China’s economic recovery and prosperity, the implementation of WTO accession and "going out" strategy of overseas investment,our country develops rapidly. However, China has not yet established the legal system of overseas investment insurance, which is detrimental for further promoting the development of China’s investment overseas. Therefore, we should start from China’s national conditions and learning experiences of other countries, and thus apply to build and improve our system for overseas investment.Although the Chinese domestic legislation of this system is still in a blank state, China has signed bilateral investment protection agreements with many countries, and also is a member of the Multilateral Investment Guarantee Agency on the level of international law. At the same time, we have overseas investment insurance practice, thus we can sum up current deficiencies in China through analyzing the current situation of China’s legislature. The third part is to analysis the necessity and feasibility of building our country’s overseas investment insurance system so that we can provide the premise for the future system. Then it comes to the comparative analysis of the three legal systems, which has a good reference for China. The last part gives suggestions for the construction and improvement of overseas investment insurance system, respectively from the level of domestic law and international law aspects. The significance of this study is obviously. Under the background with rapid development of China’s overseas investment together with political risks and not full protection, to discuss construction of overseas investment insurance system in our country has important theoretical and practical significance. Overseas investment insurance is still a new thing in our country, although scholars have concerned and discussed about this issue in recent years. This paper summarizes case based on others’ exploration and presents some new thoughts. Although many failings may appear due to capacity constraints and time constraints, I still hope it can do a little for China’s construction and improvement.