On The Defects And Improvement Of The Legal System Of Overseas Farmland Investment Of China From The Perspective Of Responsible Investment

Responsible investment is an important criterion in the international investment market.The United Nations launched the Principle of Responsible Investment in 2005.The World Food Security Commission adopted the Principle of Responsible Investment in Agriculture and Food System,which undoubtedly affirmed the importance of the principle of responsible investment in various sectors.China has 22% of the world's population,so that food security is a strategic issue at the national level,while China has only 9% of the world's farmland,so overseas farmland investment is an inevitable strategy to ensure food security.To be a "Responsible Country",it is an important measure to implement the principle of responsible investment in the field of overseas farmland investment.From the perspective of responsible investment,this paper analyzes the defects of the current legal system regulating overseas agricultural land investment in China,and examines the relevant provisions of some foreign countries,in order to provide some reference for China,and finally puts forward some suggestions to improve the relevant defects of the current legal system in China.This paper is divided into four chapters.The first chapter discusses the two important concepts of "responsible investment" and "overseas farmland investment",and the characteristics of overseas farmland investment which is different from other general investment under the concept of responsible investment.As responsible investment appears in different international legal documents,its concept is also different and unified.Therefore,the author borrows the conceptual framework of the United Nations,introduces the relevant important factors of the World Food Security Commission,and makes a new definition of responsible investment,in order to include the definition of responsible investment by all the authoritative organizations.Overseas farmland investment has also been a hot topic in recent years.It overlaps and differs with "overseas agricultural assistance" and "overseas contract farming",and has nothing to do with "Neocolonialism".From the perspective of responsible investment,overseas farmland investment strengthens the governance responsibility of the investment home country,which has the characteristics of both profit-making and protection of the weak,and the dynamic balance of risk and income stability.The second chapter analyzes the defects of the current legal system regulating overseas farmland investment from the perspective of responsible investment.Because China has no special legislation rules for overseas investment,the laws that can regulate overseas farmland investment are scattered in various regulations.The current management legal system in China is mainly lack of systematicness,the relationship between responsible factors and investment is not fully regulated,the compulsory and illegal responsibilities are not enough,and the regulation and management of personal investment is ignored.The supporting legal system is divided into credit supporting legal system and insurance legal system.The biggest defect is that the credit policy is not clear,and the insurance system is not standardized.They are not enough to support the legal system of farmland investment in our country,nor to promote the practice of responsible investment.In the third chapter,the author reviews the relevant legal systems of the United States,Japan and South Korea,and summarizes their advantages and disadvantages.The United States has mainly built a foreign investment management and support system with The Foreign Assistance Act of 1961 as the core.Its latest Global Food Security Act of 2016 and Enterprise for the Americas Initiative are consistent with responsible farmland investment.The manual of Overseas Agricultural Development and the International Land Investment Guide launched by Japan all support responsible overseas farmland investment.South Korea relies on the Overseas Agricultural Development Cooperation Act to guide foreign land investment practice.The three countries have established feasible investment service system,of course,the legal system of the three countries also has some defects like our country.The fourth chapter gives some suggestions on the defects of the current legal system of overseas farmland investment in China.China should formulate the Guidelines for Overseas Farmland Investment as soon as possible,formulate relevant laws in due time,amend articles 41 and 55 of the current measures for the administration of enterprises' overseas investment,and explore feasible investment service systems.In terms of credit,we should propose a unified platform for credit policy disclosure,and refer to the measures for the administration of overseas investment of enterprises to incorporate the responsible factors currently recognized in China into the Credit Preference standard.In terms of overseas investment insurance,we should establish an insurance system with separate audit and insurance,and appropriately expand the coverage of farmland investment,allowing individual investors to underwrite the investment of overseas farmland.