On The Investment Disputes Settlement Mechanism In The BITs Between China And The "Belt And Road" Countries

The investment disputes settlement mechanism in China's BITs with the “Belt and Road” Countries is divided into the state-to-state disputes settlement mechanism and the investor-state disputes settlement mechanism,both of which constitute a complete rule system.In view of the long-term neglect of the State-to-State disputes settlement mechanism by the international community,and the drawbacks of investors-state disputes settlement mechanism have become increasingly prominent(some “Belt and Road” Countries have clearly expressed doubts about their impartiality).China's current disputes settlement mechanism in the BITs still needs further improvement in meeting the development of the “Belt and Road” initiative.Therefore,a comprehensive research of the investment disputes settlement mechanism in BITs is a subject that must be emphasized in the implementation of the “Belt and Road” initiative.Although the provisions of the State-to-State disputes settlement mechanism are too rigid and the abuse of procedures limits its function,but the investor-state disputes settlement mechanism is also exposes many drawbacks,including the consistency of arbitral tribunal awards,the neutrality of arbitrators,the cost of the case and the time,in the process of implementing the “Belt and Road” initiative,it is necessary to make corresponding changes to the dispute settlement mechanism in the BITs in conjunction with relevant policies of the “Belt and Road” countries.Under the state-to-state disputes settlement mechanism,it is necessary to clarify the interpretation or application of the relevant treaty in the provisions,and add legal provisions that can be submitted to the International Court of Justice to ensure the integrity and impartiality of the state-to-state disputes settlement mechanism.Under the investor-state disputes settlement mechanism should be emphasis placed on the use of preventive measures and the full use of alternative dispute resolution methods.On the whole,it is necessary to combine the superiority of investor-state disputes settlement mechanism and state-to-state disputes settlement mechanism,add special clauses to clarify the relationship between the two to achieve mutual transformation,during the disputes settlement process.It will be better serve the investment disputes settlement mechanism in the BITs between china and the “Belt and Road” countries,promote the further development of the investment disputes settlement mechanism in the BITs.