Study On Transparency Of Investor-state Dispute International Investment Arbitration

Under the wave of economic globalization,the degree of openness of countries has gradually increased,and the economic development of a country cannot be separated from other countries.Since the 1990 s,international investment led by multinational corporations has played an important role in the development of the global economy.It is inevitable that the disputes between investor and the state,which in the context of increasingly economic cooperation between investor and state.Therefore,investor-state dispute international investment arbitration methods are often used to resolve such disputes.Most of these cases are investor-state dispute international investment Arbitration,which is initiated on the basis of an investment treaty.International investment arbitration is based on the continuous development of international commercial arbitration.International investment arbitration follows some characteristics of traditional commercial arbitration—high efficiency and confidentiality.Confidentiality is the core feature of arbitration,and it also plays a pivotal role in investor and state dispute international investment arbitration.However,in the investor-state dispute international investment arbitration,the arbitral tribunal often makes a ruling in favor of the investor,thereby neglecting the public interest of the host country,even because of the confidentiality of arbitration,the people of the host country cannot know the information of the arbitration.These problems has led to the criticism of the legitimacy of arbitration,people gradually began to question the legitimacy of the arbitration mechanism.The strong willingness of the public to request the right to know is the driving force for the transparency of the dispute settlement process.The international community has made lots of efforts on the transparency of investor-state dispute international investment arbitration.From the North American Free Trade Agreement(NAFTA)to the International Center for Settlement of Investment Disputes(“ICSID”)to the United Nations Commission on International Trade Law(UNCITRAL),the transparency of investor-state dispute international investment arbitration has been revised.The provisions of the three major mechanisms for the transparency rules are gradually and thoroughly detailed.With the implementation of China's “going out” strategy and the continuous promotion of the “One Belt,One Road” initiative,while attracting foreign investment,China's foreign investment is also growing,and has gradually shifted from a capital-importing country to a capital-exporting country.At the same time,China's foreign investment treaties have also increased,and the proportion of China's foreign investment and attracting foreign investment is increasing.In this context,the investment dispute between investor and state will inevitably increase,and the significance of transparency reform to China's “going out” strategy cannot be ignored.Therefore,the study of the transparency of investor-state dispute international investment arbitration has practical significance.This article is divided into five parts:The first part elaborated the concept of investor-state dispute international investment arbitration and transparency,and analyzed the background and necessity of transparency reform in investor-state dispute international investment arbitration.The second part analyzed the development course of transparency rules in the investor-state dispute international investment arbitration mechanism,and empirically analyzed the development of transparency through cases.The third part is the study of the contents of the investor-state dispute international investment arbitration transparency rules.Based on the “Transparency Rules”,analyzed the content of investor-state dispute international investment arbitration transparency.The fourth part analyzed the exceptions of transparency.In the investor-state dispute international investment arbitration,transparency reform is necessary,but at the same time,transparency exceptions should be emphasized.Information on national security and trade secrets should be necessary distinguish.The fifth part analyzes the attitudes of some international countries and the transparency of investor-state dispute international investment,and based on the actual situation in China,puts forward China's attitude in transparency reform and how respond to the transparency rules in investor-state dispute international investment arbitration.