Study Of Transparency Rules System Of International Investment Arbitration Under UNCITRAL

With the rapid growth in the number of international direct investment and the growing dynamic investment market,the number of arbitration cases submitted to the arbitral tribunals has also increased dramatically.As one of the most important ways of settling disputes between investors and host countries,the reform of international investment arbitration has received wide attention.For a long time,international investment arbitration sticks to the traditional principle of confidentiality,the arbitration process and results cannot be exposed under the supervision of the public,which made the arbitral award results being questioned.In order to resolve this "legitimate crisis",to balance the interests between investors and host countries,to achieve the unification of procedural law in investment arbitration,a series of reform is taking place in international investment arbitration,in which the reform of transparency rules becomes the focus.To enhance the transparency of arbitral procedure,it is possible to balance the interests between the host countries and investors,to strengthen the supervision of the public on arbitral procedures and arbitration awards,and to effectively promote the investment arbitration to a more efficient,professional and impartial one.NAFTA was the first to incorporate the transparency rules into its system.In 2006,ICSID amended its arbitration rules to incorporate the transparency clauses and revised it several times afterwards.The latest achievements in the development of transparency are Rules on Transparency and Convention on Transparency which adopted by UNCITRAL in 2013 and 2014 respectively.The introduction of these two documents marks the basic formation of the transparency system under the UNCITRAL mechanism and indicates that UNCITRAL is at the forefront of the transparency reform in of international investment arbitration.Gradually progressive reform of transparency will undoubtedly bring China huge influence and shock.As a great country of foreign investment and foreign investment attraction,China should always pay attention to the new legislation in international investment,to the latest movements of other countries and international organizations,to focus on academic research on the transparency of investment arbitration,to change the existing concept of the exclusion of transparency rules,to deal with the legislative linkage of domestic laws and international law environment,and in order to hold greater right of speech and the initiative.This thesis will start from the origin and development process of the transparency rules,after demonstrating its necessity in the legislation of international investment arbitration and the government practices and sort out the reform results of the transparency rules in recent decades,then introduces the focus of this thesis,the UNCITRAL transparency rules system,which is mainly composed of Rules on Transparency and the Convention on Transparency.By analyzing the specific terms of these two documents and comparing them with other transparency rules on the basis of summarizing the attitudes and practices towards transparency of other countries,to finally indicate the orientation of China's investment arbitration in the future.