Research On Transparency Of International Investment Arbitration

Influenced by commercial arbitration,international investment arbitration has always followed the characteristics of confidentiality in the process of development.However,in recent decades,due to the arbitral tribunal's over-emphasis on the protection of investors,there has been a lack of relative attention to the public interest,which makes the legitimacy of arbitration itself questioned.In order to protect the rights and interests of investors and host governments,investment arbitration began to advocate open procedures to protect the legitimate rights and interests of both parties.In the practice of investment arbitration,from NAFTA agreement to ICSID arbitration rules,including UNCITRAL Transparency Rules,Transparency Convention and other arbitration mechanisms and treaties,there are relevant provisions on the transparency of international investment arbitration,including but not limited to the following main aspects:the disclosure of information on arbitration proceedings,the disclosure of hearings,the participation of non-disputing parties in court hearings,and the conclusion of arbitration.Openness of fruit.The reform of transparency in international investment arbitration shows a trend from scratch,from general to specific,which increases the transparency of arbitration procedures and public confidence in investment arbitration.The reform of transparency and transparency in international investment arbitration can be used for reference in China's investment arbitration rules.China's exploration of investment arbitration originated from the Arbitration Rules of Shenzhen International Arbitration Court(2016),promulgated by Shenzhen International Arbitration Court in 2016,which was the first rule to accept investment arbitration.The rule system promulgated by Shenzhen International Arbitration Court advocates increasing the transparency of arbitration procedure and improving the efficiency and quality of arbitration.Although there are no specific provisions on the transparency of international investment arbitration,it has certain influence on the development of related fields in the future.In 2017,the China International Economic and Trade Arbitration Commission issued the Arbitration Rules for International Investment Disputes of the China International Economic and Trade Arbitration Commission,which marks the first time that China has elaborated on the transparency of investment arbitration in terms of content,and made detailed provisions on the mode of hearing,the submission of written opinions by third parties,and the disclosure of materials.In this context,it is of practical and theoretical significance to study the topic of transparency in international investment arbitration.This paper mainly focuses on the reform process of transparency in international investment arbitration,and makes analysis and suggestions on the improvement of transparency in China's investment arbitration rules.This paper summarizes the concept and characteristics of international investment arbitration,summarizes the current crisis in investment arbitration and the necessity of transparency reform in investment arbitration.This paper makes a comparative analysis of the provisions on transparency in international investment arbitration rules,explains the development trend of transparency in investment arbitration,evaluates the exceptional clauses of transparency rules,discusses the conflict between confidentiality and transparency in international investment arbitration,and puts forward some suggestions on balancing the transparency and confidentiality of international investment.Finally,in view of the current situation of transparency in investment arbitration in China,mainly the problems existing in the implementation of transparency practice in international investment arbitration and the provisions on transparency in investment arbitration rules,this paper puts forward some suggestions for improvement.