Research On The Bilateral Investment Protection Agreements Between China And ASEAN Countries

ASEAN is a association of nations, in the association of southeast Asian nations, there are China's friends-Cambodia, Myanmar; there are China's friendly cooperative partners-Laos, Thailand, Brunei, Singapore, Malaysia; and China's trade cooperation countries-Indonesia, Philippines, Vietnam. From March 12, 1985 to December 12, 2001, China have signed ten bilateral investment agreements with Thailand, Singapore, Malaysia, Philippines, Vietnam, Laos, Indonesia, Cambodia, Brunei, Burma to promote and protect investment. From the time China signed bilateral investment protection agreement with Thailand in 1985 to the time China signed bilateral investment protection agreement with Burma in 2001, the span is 16 years, and ten bilateral investment protection agreements have same and different content. After 2001, China and ASEAN countries did not update the bilateral investment protection agreements, it has been 15 years, then there must be the useless and lagging content in the ten bilateral investment protection agreements comparing with China-ASEAN investment agreement. In this case, however, we can not give up the bilateral investment treaties and only rely on regional investment agreements, because it is contrary to international law, and we should comply with the international diversification of investment rules, emphasizing an update of the rules.Therefore, this essay adopts a variety of research methods such as the comparative study, historical study. Comparing with the content of ten bilateral investment protection agreements between China and ASEAN countries, and finding out the common problems and solutions of investment definition, investment treatment, investment protection, investment dispute settlement, and responding to the "The Belt and Road" national strategy, at the same time helping update bilateral investment protection agreements between China and ASEAN countries, and promoting the development of the investment. Besides preface and conclusion, this thesis consists of five parts.The first part: “summary of bilateral investment protection agreements between China and ASEAN countries”. Firstly, the thesis introduces that the bilateral investment protection agreement contributes to China free trade area strategy, putting emphasis on bilateral investment protection agreement helping to promote China free trade area strategy and regional rules development.Then to introduce the background of bilateral investment protection agreements between China and ASEAN countries and Chinese politic and economic background, in which China have respectively signed bilateral investment protection agreements with ASEAN countries in sixteen years. Secondly elaborating the legal nature of bilateral investment protection agreements between China and ASEAN countries comparing with the nature of the multilateral investment agreement- "China and ASEAN countries free trade area investment agreement". Then it states common characteristics of bilateral investment protection agreements between China and ASEAN countries, such as coexistence of substantive right and procedural right. To imply the difference of bilateral investment protection agreements between China and other countries. Finally introducing the impact of trade between China and ASEAN countriess after signing bilateral investment protection agreements between China and ASEAN countries, and through practice results reflecting the function of ten bilateral investment protection agreements. Paving the way for later detailed analysis of the ten bilateral investment protection agreements.The second part: “research on investment definition of bilateral investment protection agreements between China and ASEAN countries”. This part mainly according to the investment definition of ten bilateral investment protection agreements between China and ASEAN countries to find out the similarities and differences after the detailed comparison of the relevant provisions. Then comparing with the China-ASEAN free trade area investment agreement and then finding out the common problems of ten bilateral investment protection agreements on investment definition, such as a lack of accuracy, investment definition terms are not standard, and then come up with the solutions, such as to balance investment accuracy and comprehensive, correct terms of the definition. In order to promote the update of investment definition of bilateral investment protection agreements between China and ASEAN countries.The third part: “research on investment treatment system of bilateral investment protection agreements between China and ASEAN countries”. Research on investment treatment of ten bilateral investment protection agreements between China and ASEAN countries and the China-ASEAN free trade area investment agreement, comparing with each other and finding out the common problems of investment treatment of ten bilateral investment protection agreements, for instance, fair treatment is vague, most favored nation treatment is narrow, lacking national treatment, then coming up with the solutions, such as specify the fair treatment, expand the application of most favored nation treatment, supplement of national treatment.The fourth part: “research on investment protection system of bilateral investment protection agreements between China and ASEAN countries”. Firstly looking at the investment protection rules of ten bilateral investment protection agreements between China and ASEAN countries and the China-ASEAN free trade area investment agreement, making a comparative study. Then discussing common problems of ten bilateral investment protection agreements, such as undefined indirect expropriation, undefined delay interest of compensation, undefined non-transfer asset clauses. Finally, discussing the solutions, such as stipulation of indirect expropriation, definition of delay interest, stipulation of asset non-transfer.The fifth part: “research on investment dispute settlement mechanism of bilateral investment protection agreements between China and ASEAN countries”. Firstly, comparing with investment dispute settlement provisions of ten bilateral investment protection agreements between China and ASEAN countries, and at the same time comparing with the China-ASEAN free trade area investment agreement rules. Then coming up with the common problems of ten bilateral investment protection agreements, such as a lack of ICSID arbitration, investment arbitration lacking an appeal mechanism. Finally, finding out the solutions, for instance, developing ICSID arbitration, setting up investment arbitration appeal mechanism.