On Improving The Supervisory Legal System Of Chinese Overseas Investment

China's overseas investment has made a rapid progress in the last 40 years since the implementation of the reform and opening policy.Especially in recent years,with the favorable policies of “the Belt and Road” initiative,Chinese enterprises have seized the opportunity to maintain a relatively fast growth in the "going out" investment,and the investment scale reached a higher record over times.But there are also many investment chaos behind the overheated wave of overseas investment,such as the blind investment of the state-owned business,leading to a severe loss of state-owned assets,and irrational venture,which caused the deficit of enterprises and damage to the national image,illegal transfer of assets covered by false investment.Facing the complicated domestic and foreign environment and the current situation of overseas investment,the relevant departments begin to strengthen supervision while encouraging foreign investment.In 2017,China's foreign direct investment showed negative growth for the first time.Although investment is an autologous behavior,it is related to national interests and economic security.Meanwhile,the supervision should also concerns the coordination between the government and the market subjects within the framework of the rule of law.In February 2019,General Secretary Xi Jinping emphasized in his speech at the second meeting of the Central Committee for the Comprehensive Rule of Law that in order to meet the needs of building a new open economic system in the new era,it is necessary to develop essential laws on foreign investment.In order to promote the healthy and orderly development of overseas investment,we must attach importance to its supervision.In addition to improving the relevant system,we also need to improve the coordination of the overall framework.The supervision involves system design,regulators and the way of regulating,it can also be divided into legislation of government and self-discipline.The thesis focus on the perfection which involves the overseas investment from the perspective of the institution of law.Firstly,starting from the current situation of the supervisory legal system of overseas investment in China,this paper reviews the development process of the legal supervision system of overseas investment,especially after the promulgation of the Guiding Opinions on Further Guiding and Regulating the Direction of Overseas Investment in August 2017 and the Measures for the Management of Overseas Investment by Enterprises in December,the supervision of overseas investment presented a series of new characteristics.Secondly,on the basis of analyzing the legal supervision system which includes the regulators and the regulates persons,finding out the framework and the functional localization.Secondly,by sorting out the institutions,even though related departments have taken measures to strengthen the supervision of overseas establishment in recent years,the legal supervision institutions has not formed a uniformed framework yet,the quantity and the division of the supervisors also resulted in confusion on supervision.By searching the content of the legal supervision institutions,there are many problems which include the approval in prior period and the surveillance in later period.Therefore,the perfection of legal supervision system should take the new situation of home and abroad into consideration,to build a integral framework.Last,combined with the current economic and politic situation,the suggestions are put forward based on the actuality and problems.