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A Study On The Recognition And Enforcement Of ICSID Arbitral Awards In China

Posted on:2021-03-16Degree:MasterType:Thesis
Country:ChinaCandidate:X H SunFull Text:PDF
GTID:2416330620971821Subject:Law
Abstract/Summary:PDF Full Text Request
With the acceleration of the pace of global economic integration,the transnational export and input of international capital are becoming more and more frequent,and international investment has become the main way of transnational flow of contemporary economy,which has led to an upward trend in the number of international investment disputes.In the face of international investment disputes,international investment arbitration is the main way to solve the investment disputes between transnational investors and host countries at present,which plays an important role in protecting the interests of investors,safeguarding the interests of host countries and building an international law order.International investment arbitration,known as"State—investor arbitration ",is primarily an international arbitration initiated directly against the host Government by foreign investors established by the Convention on the Settlement of Investment Disputes between States and Nationals of Other States(hereinafter referred to as the Washington Convention or the ICSID Convention)and bilateral investment protection agreements(BIT)between States.The International Centre for the Settlement of Investment Disputes between States and Nationals of Other States(hereinafter referred to as "the Centre ")is the most important international institution for the settlement of investment disputes between investors and host countries and is based on article 1 of the Convention.On 14 October 1966,the Netherlands became the 20th State to accede to the Convention,and the Washington Convention entered into force under the conditions for its entry into force.At the beginning of its accession to the Convention,China had only agreed to refer compensation disputes arising from expropriation or nationalization to the Centre for arbitration.But in recent years,with the development of China's economy and the acceleration of the process of capital globalization,China will inevitably involve international investment disputes in various forms,and the bilateral investment protection agreement(second generation BITS)signed by China has expanded the scope of arbitration to "investment-related disputes" rather than "expropriation and nationalization compensation ".At present,the international investment arbitration settlement mechanism has a perfect legal framework at the international law level,but has not established the corresponding legal framework at the domestic law level.By using the methods of annotated law research,empirical law research,historical law research,inductive deduction and so on,the investment arbitration cases involving China as a participant,as well as are read,and the relevant laws and regulations are studied.On the basis of systematic analysis ICSID the status quo of recognition and enforcement of awards and full consideration of the existing provisions of the ICSID Convention on the enforcement mechanism of awards,and in view of the difficulties and difficulties faced by applicants applying for enforcement of property against successful awards to China,it is found that China,as a State party to the Convention,still has the position of absolute immunity,the absence of relevant domestic laws and competent authorities,conflicts with the provisions of reservations to public order;and conflicts with the application of trial supervision procedures.With the development of the global economy,the number of cases received by the Centre has been numerous from the past few to the present day,and the investment dispute settlement mechanism has been widely used to resolve investment disputes arising from investment behavior between countries and individual investors.In the context of China's efforts to improve the investment environment,reform the foreign-related investment system and vigorously implement the "Belt and Road" initiative,China,as one of the fastest-growing developing countries,should take into account the protection of investors' rights and interests as well as the sovereignty and interests of the host country.How to ensure the successful recognition and enforcement of ICSID arbitral awards in China is particularly important in order to better abide by the Washington Convention,fulfill the obligations of its members and assume China's international responsibilities as a developing country.It is of great significance to protect the interests of investors and host countries and to safeguard the international economic order.Based on the present situation of Chinese judicature,this paper analyzes the existing problems and solutions of ICSID arbitration awards in China's recognition and enforcement,and puts forward some suggestions on perfecting and perfecting the relevant domestic law system consistent with the original intention of the arbitration mechanism of the ICSID Convention.
Keywords/Search Tags:International investment arbitration, Convention on the settlement of Investment Disputes between States a nd National of Other States, Reservation of public order, State immunity
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