On Legal Problems Of ICSID’s Expanding Jurisdiction

Nowadays, international capital flows frequently, and the disputes of investment became more and more violent. "Washington Convention" has a significant impact on solving the international investment disputes. The ICSID established on the basis of the convention is a special agency to solve the investment disputes between investors and host countries, which has been receiving more and more favor of the investors, for its "de-politicization" characteristic. The host countries are also gradually taking an open attitude to this mechanism to attract foreign investment. But in the reality, the extension of jurisdiction exists for the ICSID arbitral tribunal, which we should treat from a dialectic point view.Presently, domestic and foreign scholars all focus on the disadvantages caused by the extension of jurisdiction of the arbitral tribunal, but very few of them payed attention to its rationality. Based on the inequality between investors and the host countries, reasonable extension of the jurisdiction of the arbitral tribunal makes more investment disputes included in the arbitration mechanism and give necessary protection to inventors. China should treat the extension of jurisdiction problem according to national conditions. Strategy of "The Belt And One Road" promote Chinese overseas investment to expand greatly. And at the same time, China was also a country that traditionally attracts inward investment. So China should make full use of ICSID mechanism. At present, few cases that China as defendant have been appealed to ICSID, but China should learn from experience and useful practice of other countries. Chinese government should make careful consideration of the advantage and disadvantage of the extension of jurisdiction in signing BITs, trying to maintain a balance between protection of overseas inventors and safeguard the domestic interests.