Perfection And Construction Of Investment Dispute Resolution Mechanism Under The Belt-road Initiative

The purpose of this paper is to analyze and explore the defects and deficiencies of existing investment disputes under the “One Belt and One Road” initiative,propose proposals for improving dispute resolution,and propose the establishment of a “One Belt and One Road” Investment Dispute Resolution Center.In order to create a stable,fair and transparent legal business environment,we will properly resolve the "One Belt and One Road" trade disputes and investment disputes in accordance with the law,and protect the legitimate rights and interests of Chinese and foreign investors and the public interests of the country on an equal footing.The economic and trade scope of the "Belt and Road Initiative" covers a wide range of fields and the content is complex.The political,economic and cultural differences among the participating countries are large.In the process of the implementation of specific trade and investment,disputes are inevitable.Therefore,how to resolve disputes is a question that must be faced when implementing the “One Belt and One Road" initiative.There are indeed many mechanisms,institutions,and methods for dispute resolution in the world.However,whether these institutions are suitable for the effective implementation of the “Belt and Road Initiative” deserves discussion and exploration.This paper starts with the trends and characteristics ofChina's foreign investment under the “One Belt and One Road” approach,the challenges faced by Chinese investors,and investment risks,analyzes the differences in international investment disputes and the consequences and impacts of handling the results on the parties and regional development.Specifically,this paper analyzes and evaluates the existing international investment dispute resolution mechanism,WTO and ICSID.At the same time,it analyzes the multiple dispute resolution mechanisms of “mediation,arbitration and litigation” in China.Since the scope of the WTO dispute settlement mechanism is very limited,it is impossible for some countries along the route to choose to apply the WTO dispute settlement mechanism;in addition,the WTO dispute settlement mechanism is not a specialized agency for resolving international investment disputes.It can only deal with the dispute between member countries.Investment measures based on domestic laws or administrative orders do not involve investment disputes between investors and host countries;in addition,WTO dispute settlement requires high costs,which urges low-income countries along the route to abandon the use of heavy burdens;In the end,most countries along the country have lagging behind the level of the rule of law,the imperfect construction of the legal system,the inability of the judicial guarantee system to be integrated with international standards,and the lack of lawyers capable of qualifying for the WTO's international business,making it difficult for the WTO's international adjudication to be recognized in countries along the “One Belt and One Road”,guarantee and implementation.Therefore,the author concludes that the WTO dispute settlement method does not apply to the settlement of investment disputes under the “One Belt and One Road” initiative.For the ICSID dispute settlement mechanism,it has an unshakable position in the field of international investment dispute settlement.First of all,it is the first and only international platform dedicated exclusively to solving investment disputes,which makes the disposal of international investment dispute bid farewell to the era of diplomatic protection and achieved the goal of politicization of dispute settlement;secondly,the ICSIDmechanism explicitly proposed acceptance of investors and host countries.The settlement of investment disputes among foreign investors allows foreign investors to follow laws and regulations in resolving investment disputes and claiming rights.Finally,the ICSID mechanism has a wide range of jurisdiction as long as the parties agree in the corresponding bilateral and multilateral investment agreements.By submitting investment disputes to the ICSID Investment Dispute Resolution Center for resolution,even if it is not an ICSID Contracting State,the Center may provide the client with an investment dispute resolution service.Of course,there are some inconsistencies in the application of the ICSID dispute mechanism in countries along the route,which are mainly reflected in the inherent defects of the ICSID dispute resolution mechanism.For example,there is no appeal mechanism in the “first instance final review”.If the award is indeed wrong,the parties concerned There is no avenue for relief;the arbitrators in the ICSID dispute resolution mechanism have been criticized for their scope,selection mechanism,and fairness.However,the above deficiencies can be improved through the improvement of the mechanism.At present,the ICSID International Center for Settlement of Investment Disputes has started a process of revision of a new round of arbitration rules.Therefore,China and the countries along the route can actively participate in the process of formulating and revising the rules and provide useful suggestions,making the ICSID mechanism more suitable for the settlement of investment disputes in the countries along the route.After applying empirical research,horizontal comparisons,and logical analysis methods to study the existing international investment dispute settlement mechanism,the author also turned the research perspective to China and conducted a variety of dispute resolution methods for “mediation,arbitration,and litigation” advocated by the country.Explore.The current domestic mediation system and arbitration system has not yet established a connection channel with the settlement of international investment disputes,and it has not yet received international recognition.The domestic judicial litigation protection and convergence mechanism is steadilyadvancing with the support of the Supreme Court.After studying and learning from the mature experience of the Dubai International Financial Center Court,Singapore International Commercial Court,the United Kingdom of England and Wales Commercial and Property Tribunal,etc.,the author puts forward ideas for the establishment of an international commercial court in China,including the geographical and qualification restrictions on the selection of judges and courtrooms.The specific working mechanism of the trial working language was explored and discussed.In addition,the author proposes to establish a “One Belt and One Road”Investment Disputes Settlement Center from the perspectives of “how to establish and improve the “One Belt and One Road” investment dispute resolution mechanism,effectively protect the rights of investors,and promote the legalization of investment dispute settlement mechanisms”.To begin with,the author analyzes and discusses three aspects: the necessity,feasibility,and specific operation of constructing the “One Belt and One Road” characteristic investment dispute settlement mechanism.Among them,there are two schools of thought on the idea of establishing a "One Belt and One Road" investment dispute settlement center based on the "Asian Investment Bank." Some scholars believe that the "Asian Investment Bank" as an international organization,if given too much of China's dominant color in its initial stages of development,is not conducive to its acceptance and acceptance in the international community,especially countries along the "Belt and Road." While some other scholars hold opposite views,they believe that setting up a dispute settlement agency within the “Asian Investment Bank” and establishing a set of dispute resolution rules are innovative initiatives that can be performed imaginatively and on-the-spot,and are worth a try.The author agrees with the latter's point of view.However,in the specific operation and implementation process,it is necessary to pay special attention to the principle of fully respecting the cultural customs of the countries along the line,and implementing the principle of equal protection of the interests of domestic and foreigninvestors and the public interest of the country.The concrete operation of the “One Belt and One Road” Investment Dispute Settlement Center is to draw on the beneficial experience of the ICSID mechanism built on the World Bank platform,and on the other hand,to improve the inadequacies of the ICSID mechanism that may jeopardize the interests of the countries along the route..It mainly starts with the idea of ? ? constructing the “One Belt and One Road” characteristic dispute settlement mechanism.The “Asian Investment Bank”presides over the formulation of the “One Belt One Road” Investment Dispute Settlement Convention.The member states discuss and discuss proposals for the text,and agree on the text after revision,and Effective after approval by the member states.Next,the "One Belt and One Road" Investment Dispute Settlement Center will be set up within the "Asian Investment Bank",and member states will jointly discuss and formulate the "Arbitration Rules for International Investment Disputes along the Belt and Road." Its purpose and purpose are to facilitate the mediation and arbitration of investment disputes between investors and host countries in countries along the Belt and Road,as well as trade disputes between investors and nationals of host countries,and to safeguard the legitimate rights and interests of investors and host countries."One Belt,One Road" creates a fair,just,secure and secure business environment along the route.In addition,the characteristics of the “One Belt and One Road”Dispute Settlement Center are characterized by its wide range of cases and loose jurisdiction.The Center expressly accepts the settlement of investment disputes between investors and host countries along the “One Belt and One Road” and accepts investment disputes.Trade disputes or independent trade disputes.Furthermore,the“Belt and Road” investment dispute settlement center has a low threshold of access.In addition to the State party,any bilateral,multilateral or regional investment agreement clearly stipulates that disputes can be submitted to the “One Belt and One Road” Investment Dispute Resolution Center.The terms and conditions are accepted by the center.In terms of dispute settlement methods,not only internationallyaccepted arbitration methods are used,but also consultation and mediation systems with oriental features are integrated into them to provide distinctive and diversified dispute resolution services.