The Research On The Perfection Of Indirect Expropriation To Protect China's Overseas Investment

With the trend of liberalization of investment along with changes in the comparison of national economic forces,indirect expropriation has increasingly become a policy concern for host country governments and an important risk concern for investors lately.The indirect expropriation disputes that have emerged since the 1990 s have important differences from previous ones decided by the Iraq-United States claims tribunal,and its basic contradiction involves how to protect the property rights of foreign investors while effectively protecting the public interests of the host country.Under the circumstances where the definition and identification standards of indirect expropriation are in dispute,international arbitration awards have become the basic path for the study of the connotation and characteristics of indirect expropriation.However,the uncertainty,inconsistency and strong tendencies towards investors‘ protection in recent international investment treaties and international arbitral awards have exacerbated the trend of expansion and complexity of indirect expropriation.As a developing capital exporting countries,China faces the dual risk of indirect expropriation.Given that China has fully recognized the jurisdiction of ICSID,Chinese investors,especially state-owned enterprises,have important interests in the resolution of indirect expropriation disputes involving overseas investment.However,there are flaws in the status quo of China's legislation and a lack of practical experiences in arbitration,thus rules and regulations regarding indirect expropriation need to be improved.Therefore,this paper starts with the latest developments in indirect expropriation issues and the focus of theoretical disputes.It then examines the characteristics of indirect expropriation cases faced by Chinese and foreign investors in the Iraq-United States Claims Tribunal,NAFTA Arbitration Court,and ICSID.In doing so,this paper hopes to make the connotation and denotation of indirect expropriation more clear,preliminarily establish the standards,exceptions,and dispute resolution mechanisms for indirect expropriation,and provide reference for China's legislative research,and in particular,the legislation practice of international investment treaty as an important basis for dispute resolution of indirect expropriation.