One Belt, One Road, Two Routes Regulation: Regulatory Interactions Between China and Host Countries in the Context of the Belt & Road Initiative

Abstract

In recent years, China’s “One Belt, One Road” Initiative (BRI) has become one of the most significant frameworks for foreign capital investment around the world, with around 70 countries hosting BRI projects. In this article, we focus on the regulatory interaction between China and host countries arising from this process. There are two strands. The first focuses on the interaction between Chinese-sponsored BRI projects and the regulatory systems of host countries linked to foreign investment, encompassing both greenfield investment and mergers & acquisitions. The second focuses on the way in which China has adapted its domestic regulatory framework to facilitate outward foreign investment. We conclude by linking these elements with emerging trends in international economic law so as to frame an agenda for further research in a field that has attracted relatively little attention in legal scholarship to date.