| In September 2013,General Secretary Xi Jinping put forward the initiative of "silk road economic belt",which has attracted extensive attention from the international community.As an important region for Chinese overseas investors to invest,the Asian countries are also an important part of the "One Belt And One Road" initiative.As a category of indirect expropriation,regulatory expropriation is more covert in external form.Therefore,the study of the cases of regulatory expropriation involving central Asian countries as the respondent in the ICSID arbitral tribunal award provides a reference for the possible expropriation risks faced by Chinese investors in central Asian investments.By adopting the method of empirical research,this paper studies the arbitration award of ICSID arbitral tribunal concerning the respondent of the central Asian countries,clarifies the defense method invoked by the central Asian countries,summarizes the arbitration habit invoked by ICSID arbitral tribunal on the issue of regulatory expropriation,and summarizes the current standard for the determination of regulatory expropriation,so as to provide reference for Chinese investors when the central Asian countries face the international investment arbitration.This paper consists of five parts:The first part introduction is an overview of the research purpose and significance of this topic and the research situation of scholars at home and abroad.The second part gives a brief overview of the basic contents of the regulatory expropriation system.Mainly discussed the origin,connotation,control system and control the relationship between the regulatory expropriation system and other system contrast;Secondly,it expounds the identification standard of the regulatory expropriation system,that is,the nature of government regulation measures,the impact of government regulation measures on the property of investors and the reasonable expectation of investors.The third part is the assessment of ICSID’s criterion for the determination of central Asian countries’ regulatory expropriation cases.This chapter introduces the cases of Valeri Belokon v.kyrgyzstan,Rumeli v.kazakhstan,Garanti Koza LLP v.turkmenistan,Caratube International Oil Company LLP and Devincci Salah Hourni v.kazakhstan and Oxus Gold v.uzbekistan concerning expropriation,introduces the basic situation of the cases,and analyzes the arbitral tribunal’s opinion on the determination of controlled expropriation.Understand the ICSID arbitration tribunal to regulatory expropriation problems habits of arbitration.The fourth part is the development of ICSID arbitral tribunal related to the central Asian countries’ regulatory expropriation system standard.This chapter,based on the research in the third part,attempts to explore the practice and development of regulatory expropriation standards in the arbitration of central Asian countries by combining with cases,and summarizes the latest recognition standards based on case practice.The fifth part is the Suggestions on how to deal with the problem of regulatory expropriation.This part firstly points out the lack of regulation on indirect expropriation system in the bilateral investment treaties signed between China and central Asian countries,and gives Suggestions to Chinese investors on expropriation clauses when they are involved in investment risks in central Asia and when they sign BITs in the future in China. |
