A Comparative Study Of The Overseas Investment Policy System Of China And The United States

This paper offers an in-depth insight of the overseas investment policy system of China and the United States. By analyzing the structure and content of the policy texts through documentary research and comprehensively applying the techniques of coding analysis, inductive analysis, and visualization analysis, we deepen the understanding of both the institutional and logic frame of each system.Research findings regarding the structure of the policy texts explicate that both systems are constituted of principle policy and executive ones, and the main differences between are embodied in the completeness of the system, the unity of the policy content structure and the way policies interconnect with each other to integrate into a system. More specifically speaking, in China, with the principle policy documents temporarily absent, there’s still room to improve the system completeness. Meanwhile the general structure of our executive policies is consisted of national strategy, department regulation purposes, and executive means related. And the construction of our policy system is three steps, all focused on the national strategy, namely developing, comprehending and implementing it. While United States presents a more complete legal system including statutes and rules, all its policy documents come in the same form, as the combination of policy purposes, key points and executive means. The construction of the system is also more complex. Starting with setting up the national strategy, the congress issues statutes to streamline their policy logic and clarify the key points to ensure its execution. Then the congress sets related departments’regulation purposes exactly the same as the statutes’key points, and entitles them the authorization to implement accordingly. In this way, the policy system in the United States thoroughly guarantees the fulfillment of its national strategy.Through analyzing the policy content in both countries, we realize that Chinese strategy content focuses more on the adjustment of the domestic investment environment, while Unites States pays more attention to the international one. And during the execution process, Chinese government tends to undertake a much more important role than the United States’, thus leads to the lack of effective participation from Chinese domestic environment, such as public, capital market and the third-party organizations. As a conclusion of the research, this paper provides a comparative analysis of both systems. From the similarities between the two systems, a universal construction framework of the overseas investment policy system is theoretically summarized and illustrated. On the other hand, the differences between them lay the foundation for the classification and interpretation of various policy systems. The results show that the construction of policy systems should be considered in both institutional and logical aspects, and the Chinese policy system is more of a domestic-prospective, developing and national-strategy-driven type, while the Unites States’is more global-horizon, developed and standardly-processed. Given our present development stage, we need to continually hold on to the strategy-orientation foundation, and steadily improve our policy system’s standardization and maturity.Based on these conclusions, this paper draws some implications for improving Chinese policy system accordingly.