Research On The Protection Of Public Interests Of Host Countries In International Investment Arbitration

International investment arbitration originates from international commercial arbitration,but it is different from international commercial arbitration.The parties involved in international commercial arbitration are equal subjects,while the parties involved in international investment arbitration are investors and host countries.Since the rise of international investment arbitration,it has continued the tradition of attaching importance to protecting the interests of investors in international commercial arbitration,has neglected the protection of the public interests of the host countries,leading to the deepening contradictions between investors and host countries.Therefore,it followed by the criticism.From the point of view of the host countries,in this paper,it discuss how to protect the public interests of the host countries in international investment arbitration.The first chapter defines the concept of the public interest of the host country in international investment arbitration,and introduces the main provisions of the bilateral or multilateral investment agreements involved the public interest of the host country in detail,points out the current situation of insufficient protection of the public interest of the host country in international investment arbitration at present,and emphasizes the importance and significance of protecting the public interest of the host country.The second chapter analyzes the reasons for the insufficient protection of the public interests of the host country in the international investment arbitration from the three angles of investment agreement,arbitration tribunal and investment arbitration system,selects three typical cases involved the protection of the public interest of the host country for empirical analysis,namely S.D.Myers Company v.Canadian Company case,Philip Morris v.Uruguay case and Argentine Investment Arbitration cases.The third chapter is divided into two parts.The first part introduces the specific provisions involved the public interests of the host country under the ICSID system,the NAFTA system,the TTIP system,the TPP and the CPTPP system,and draws inspiration from evaluating the major international investmentarbitration systems.The second part puts forward some concrete suggestions on how to improve the protection of the public interest of the host country from four aspects of defing the relevant contents of the investment agreement reasonably,binding the treaty interpretation mechanism,improving the dispute settlement procedure and enhancing the transparency.Finally,it studies the countermeasures of protecting public interest of our country in international investment arbitration.Protecting the public interest of the host country is not only the need to ease the interest contradiction between the investor and the host country,but also the requirement of the rise of the concept of international social responsibility and the essential requirement of the international investment law.As an important economic entity in the field of international investment,it is necessary for China to pay attention to protecting the public interests of the host country.On the one hand,it will promote the Chinese right to speak in the formulation of rules in international investment arbitration,on the other hand,it will help to put forward the plan that is conductive to protecting our country’s public interest.