Research On The "Belt And Road" International Investment Dispute Prevention Mechanism

The Belt and Road has a obvious difference in legal environment and a relative risk in the investment field.The international investment arbitration mechanism represented by ICSID arbitration is facing a "legitimacy crisis",which is questioned in terms of equal protection of rights and interests,impartiality of arbitrators,award error correction mechanism and so on.Dispute prevention measures refer to all prevention mechanisms to reduce the actual occurrence and deterioration of disputes,covering all stages before disputes enter investment arbitration,and have the advantages of maintaining the regulatory power of the host country,promoting equal and mutually beneficial investment partnership,and ensuring the promotion of investment projects.The Belt and Road countries have similar positions in pursuit of development and have similar development levels.It is necessary and feasible to build a dispute prevention mechanism among countries along the road.China and The Belt and Road countries have new expectations for the dispute prevention mechanism.At present,the international experience of dispute prevention is mainly reflected in the facilitation measures in domestic legislation and the dispute prevention provisions in investment agreements.According to different functions,the existing dispute prevention experience can be divided into three types: investment follow-up mechanism,dispute early warning mechanism and complaint handling mechanism.The investment follow-up mechanism is mainly realized by setting up a high-level dispute prevention and management organization and an inter state dialogue platform in a country.The early warning mechanism of disputes is manifested as information collection and sharing mechanism and government feedback mechanism.Some countries and international organizations prevent the government from implementing inconsistent measures and reduce the risk of disputes by holding intergovernmental information exchange meetings,setting up information sharing network platforms,and providing targeted training for government staff.The complaint handling mechanism is mainly reflected in the diversification of the functions of complaint handling institutions.Many countries have expanded the functions of making legislative suggestions and complaint consultation for complaint handling institutions.The Belt and Road investment dispute prevention mechanism should be combined with special geopolitical background to screen and draw lessons from it.China has an important role in the construction of the international investment dispute prevention mechanism in the Belt and Road area.At present,the Belt and Road has no experience in preventing international investment disputes.In recent years,the field of international investment has paid great attention to the reform of "investment facilitation".Under the trend of "investment facilitation",the construction of international investment dispute prevention mechanism is of great significance.The trend of "investment facilitation" requires the construction of international investment dispute prevention mechanism;The international investment dispute prevention mechanism is an important achievement under the reform of "investment facilitation".Under the wave of "investment facilitation",China attaches great importance to the improvement of the business environment and continues to explore diversified settlement mechanisms for international commercial disputes.The China Council for the promotion of international trade presided over the establishment of International Commercial Dispute Prevention and Settlement Organization.International Commercial Dispute Prevention and Settlement Organization is a preliminary exploration of the construction of dispute prevention mechanism led by China.It provides the Belt and Road and the other sides to enhance consensus and resolve disputes.In addition,the new development of China’s foreign investment complaint work and the construction of information disclosure and sharing platform also reflect China’s attention to the construction of dispute prevention mechanism.The Belt and Road should be adhered to in the construction of international investment dispute prevention mechanism.We should adhere to the principle of "politicization" and "de politicization",the principle of sustainable development and the principle of transparency.We should prevent the dispute from rising from three aspects,namely,the establishment of domestic institutions,bilateral investment agreements and regional dispute prevention arrangements,and we need to resolve disputes in arbitration.Specifically,the Belt and Road countries can set up a dispute prevention and management department at the central level.It is responsible for centralizing investment information and coordinate disputed institutions,accepting complaints from foreign businessmen,providing expert teams for dispute prevention,organizing investment policy training,putting forward policy or regulatory reform proposals,and building information for preventing disputes.In the interaction with countries along the route,China can add dispute prevention clauses in bilateral investment agreements with countries along the road and agree to submit disputes to the dispute prevention platform.Enhance investment exchanges between contracting states through a regular meeting mechanism.As far as regional arrangements are concerned,China can advocate the countries along the route to jointly build the "Belt and Road" Investment Dispute Prevention Cooperation Center,so as to increase the attention of all countries to the work of dispute prevention.