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The Tendency of Sino-Foreign BITs

Author: FanWenHao
Tutor: DuZuo
School: Jilin University
Course: International Law
Keywords: Bilateral Investment Treaties Dispute Settlement Investment
CLC: D996.4
Type: Master's thesis
Year: 2010
Downloads: 365
Quote: 7
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Abstract

With the development of the globalization of the world economy, the amount of investment which flows between countries increases fast because with the development of international direct investment, a large mount of capital and high-technology flows to neighbor countries and regions. Generally speaking, foreign direct investment (“FDI”) has played important role in the development of world economy. FDI not only promotes the development of economy and technology but also promotes the internationalization of production and capital. Though foreign direct investment is so important, there is no comprehensive and unified multilateral investment agreement to regulate it. We all know that FDI is adjusted by international law and domestic law. International law includes international treaties, United Nations General Assembly resolutions and international conventions. In these norms of international law, the bilateral investment treaties play an important role in the adjustment of international investment. China has recently joined the worldwide trend towards negotiating BITs from 1982 first with Sweden. China has singed more than 100 bilateral investment treaties until now. These bilateral investment treaties played an important role not only in the improvement of legal system but also in the promotion of foreign direct investment. World Investment Report of 2009 pointed out that under the background of worldwide financial crisis though FDI of China declined, the prospect of it is good. While in 2008 the total global foreign direct investment in the context of decline, the overseas investment of China increased by 111%. These data tell us that international investment of China developed fast in recent years. The role of China gradually changed from the country of capital importing to the country of capital importing and capital exporting. So in order to better adapt to the new situation the context of bilateral investment treaties signed by China should move forward. China and the United States declared to launch the Bilateral Investment Treaty negotiations at the conclusion of the fourth China-US Strategic Economic Dialogue on June 18, 2008. Faced these new situation, we must consider the development of Sino-foreign BITs. This paper will tell the trend of Sino-foreign BITs, the main contents of the paper are as following.Part one will describe Bilateral Investment Treaties in a macro point of view. From this part we will see the main contents and the features of BIT and the historical evolution of BIT. This part also tells us the functions of the bilateral investment treaties. And if we know the overview describe of BIT, we can better understand the importance of BITs in practice.Part two will tell the existed statement of Sino-foreign BITs. First of all this part will describe the background of Sino-foreign BITs. At the end of 1970s, China decided to attract foreign direct investment in order to help restore its economy. From then on, FDI inflow has increased at a striking speed. With rapid economic growth and increasing trade disputes with other countries, China began to sign BITs to regulate the bilateral investment of other countries. Furthermore this part will show us the situation of the Sino-foreign BITs. Since the first BIT signed with Sweden in 1982, China has signed more than 100 BITs until now. The status of our country in the negotiation of other countries changed dramatically. Finally this part will introduce the development of the content of Sino-foreign BITs. The author analysis the development of the content of BITs through comparing the BITs signed in recent years with the BITs signed in 1980s. Generally speaking, before 1998 Sino-foreign BITs were conservative. However from 1998 to 2005 Chinese investment treaties moved on liberally. Overall we can see Chinese Bilateral Investment Treaties developed in good way in the article of investment an investors, investment treatment, exchange and transfer, expropriation and compensation, subrogation rights and dispute settlement.Part three will tell the tendency of BITs signed by China and other nations. In the first place this section describes the trend of the content of international investment treaties. The development of Chinese Bilateral Investment Treaties is one part of the development of international investment treaties. So the development of international investment treaties will influence the tendency of Chinese BITs. Then this part will introduce the new situation of Chinese BITs faced. China and the United States declared to launch the Bilateral Investment Treaty negotiations at the conclusion of the fourth China-US Strategic Economic Dialogue on June 18, 2008. This BIT negotiation revives a failed BIT program of 20 years ago. At this historical moment we cannot see the changing context of investment treaties of China and the United States. But from the models of American BIT and Chinese BIT, we can see the differences and the weak points of Chinese BIT model. Lastly the part will anticipate the tendency of BITs signed by China and other nations. The author also makes some suggestions to perfect the model of Sino-foreign BIT.

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