Research On The Reform Concerning The Mechanism Of ICSID Arbitration And Countermeasures In China

With the development of international investment liberalization,the International Centre for Settlement of Investment Disputes(ICSID)has gradually become a widely recognized mainstream investment dispute resolution body.As a result,the ICSID arbitration mechanism has been in existence for many years.Many problems have been exposed in practice,such as the unclear definition of arbitration jurisdiction and the tendency to expand,the arbitrariness of the arbitration process and the need to improve transparency,the lack of consistency between arbitration awards and the impossibility of enforcement.The purpose of this paper is to form a response strategy that is in line with China's national interests by combing the status quo of ICSID arbitration mechanism reform.It must be based on national conditions and internationally,and participate in the reform of ICSID arbitration mechanism with a proactive attitude.First of all,the ICSID arbitration mechanism plays an important role in resolving investment disputes and promoting the development of overseas investment.However,in practice,the tendency to over-bias foreign investors and ignore the public interest of the host country is also criticized.This paper first gives an overview of the ICSID arbitration mechanism,and demonstrates the necessity of balancing the interests of the ICSID arbitration mechanism with global governance theory and domestic public law theory.This is the theoretical basis of the full textSecondly,starting from the motivation of ICSID arbitration mechanism reform,it is demonstrated from four aspects:arbitration jurisdiction,arbitration procedural issues,arbitration award issues,and arbitration enforcement issues.Specifically,in terms of arbitration jurisdiction,the terminology of the arbitration tribunal's jurisdiction is unclear,and there is a tendency to use the MFN clause and the forkway clause to expand the jurisdiction of arbitration;the procedural procedures are cumbersome and complicated;The process of arbitration award does not balance the relationship between the national interests of the host country and the interests of investors,and lack of consistency between the rulings will reduce the credibility and predictability of ICSID;the recognition and enforcement of arbitration awards in the process of arbitration execution Inconsistent regulations.Thirdly,the improvement of the ICSID arbitration mechanism is proposed to be adjusted from the revision of the ICSID arbitration rules and the improvement of the Convention on Settlement of Investment Disputes between the State and Other Nationals.Finally,we will put the final goal on China's response strategy.We must base ourselves on China's dual investment power,clarify China's special interests in international investment arbitration,unify and stand firm,and improve bilateral investment agreements and Free trade agreements,active participation in World Bank legislative activities,and strengthening of the links between domestic legislation and intermational investment arbitration to address challenges.There are two aspects to the innovation of this article.First of all,theoretical analysis is innovative,introducing the theory of global governance in intermational law and the theory of domestic public law to strengthen the importance of public interest protection in arbitration practice.In discussing the reasons for the reform of ICSE)arbitration mechanism,the existing research mostly focuses on ttie arbitration mechanism.In terms of "legitimate crisis",this article looks for inapplicable factors from the ICSID Convention.Secondly,the practical value is innovative.After summarizing the amendments to the ICSID arbitration rules,from the perspective of interest appeals and positions,it proposed to participate in the World Bank's legislative activities and actively promote the influence of the Chinese paradigm from the intermational legislative level.