China's International Investment Strategy最新文献

{"title":"The Political Economy of Chinese Outward Foreign Direct Investment in ‘One-Belt, One-Road (OBOR)’ Countries","authors":"K. Zeng","doi":"10.1093/oso/9780198827450.003.0020","DOIUrl":"https://doi.org/10.1093/oso/9780198827450.003.0020","url":null,"abstract":"This chapter engages in an analysis of the political economy of Chinese outward foreign direct investment (COFDI) in ‘One-belt, One-Road’ (OBOR) countries between 2005 and 2014. Research findings yield a couple of interesting results. First, there is strong evidence supporting the resource-seeking motivation behind COFDI to OBOR countries. Secondly, in contrast to previous findings, this study yields some preliminary evidence that COFDI is more likely to seek out countries with low political risks. Thirdly, the results suggest that in addition to going to countries with good political relations with Beijing, COFDI has also been more likely to flow to countries with shared diplomatic interests and agenda with the United States. Taken together, these findings point to the politically driven nature of Chinese investment in OBOR countries and the potentially central role of the state in guiding Chinese investment in the region.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115042485","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China’s Role and Interest in Central Asia","authors":"Manzoor Ahmad","doi":"10.1093/OSO/9780198827450.003.0021","DOIUrl":"https://doi.org/10.1093/OSO/9780198827450.003.0021","url":null,"abstract":"The chapter gives an overview of the Chinese investments in the Central Asian states and also provides an in-depth analysis of the China Pakistan Economic Corridor (or CPEC). These investments constitute important components of China’s three-pronged investment strategy comprising bilateral, regional, and global tracks. The roads, rails and pipelines not only ensure supply of energy resources from and through these countries but also enable China and these countries to become connected to Europe, Middle East, and Africa through alternative routes. Moreover, linking of these countries through BRI also provides the landlocked Central Asian countries access to open seas. The chapter also discusses the challenges that will have to be addressed to make the China-Pakistan Economic Corridor a success that can be replicated in the other five main corridors.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128003997","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Addressing Sustainable Development Concerns through IIAs","authors":"M. Chi","doi":"10.1093/oso/9780198827450.003.0007","DOIUrl":"https://doi.org/10.1093/oso/9780198827450.003.0007","url":null,"abstract":"The international communities are confronted with profound sustainable development challenges. International investment law, especially international investment agreements (IIAs), appears insufficiently effective in addressing such challenges associated with transnational investment activities. Recently, many governmental bodies, non-governmental organizations (NGOs), and international organizations have gone knee-deep into projecting and promoting sustainable development-compatible (inclusive) IIAs. From the standpoint of China, although China hosts a large amount of IIAs and has a clear awareness of promoting sustainable investment, its IIAs appear inadequately compatible with sustainable development. Against the backdrop of the Chinese sustainable development challenges, this chapter examines the sustainable development provisions contained in Chinese IIAs, assesses their usefulness and insufficiencies, and observes that China needs to make further efforts in making sustainable development-compatible IIAs.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133544398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China’s Outward Investment","authors":"Hui Wang, Lu Miao","doi":"10.1093/oso/9780198827450.003.0003","DOIUrl":"https://doi.org/10.1093/oso/9780198827450.003.0003","url":null,"abstract":"After the steep downturn of 2008–2009, since 2013, the world economy has continued its slow recovery. However, this growth has been uneven. Among developed countries, the US economy grew quickly while growth in the Eurozone remained sluggish. Emerging economies have also encountered headwinds as the growth momentum in most of these countries was insufficient to fuel more rapid expansion.\u0000Over this time, global cross-border investment enjoyed a period of robust growth before declining in recent years. From 2012 to 2015, global FDI inflows rose from US$ 1.33 trillion to US$ 1.92 trillion according to the United Nations Conference on Trade and Development (UNCTAD). However, in 2016, FDI flows contracted to US$ 1.87 trillion and fell further to US1.43 trillion in 2017.\u0000Amidst a slow global economic recovery, the Chinese economy continued to grow strongly. Economic restructuring and industrial upgrading contributed to China’s endogenous growth momentum. This ongoing transformation also drove continuous growth of overseas direct investment (ODI) by Chinese enterprises, supported by the government’s ‘Go Global’ strategy which was accelerated following the CPC’s Eighteenth National Congress in 2012.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"188 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134366629","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Use of Investor–state against China’s Enforcement of the Anti-Monopoly Law","authors":"Sungjin Kang","doi":"10.1093/oso/9780198827450.003.0027","DOIUrl":"https://doi.org/10.1093/oso/9780198827450.003.0027","url":null,"abstract":"Since China introduced the Anti-Monopoly Law (AML) in 2008, China achieved an impressive competition law enforcement field record. However, lawyers and scholars still argue that Chinese competition authorities applied AML disproportionately against foreign companies. Despite the possibility of judicial reviews, many foreign companies still have reservation on the independent of judiciary of China, and they are still reluctant to appeal the decisions before the Chinese courts. In addition, there are some incidents where Chinese competition authorities used the AML to promote its own industrial policy. In this regard, foreign companies are not 100 per cent sure to trust the decisions of the Chinese competition authorities that they apply the AML fairly to safeguard the fair competition between Chinese companies and foreign companies. In this regard, foreign investors are trying to find a system to make sure that they are subject to ‘fair and equitable’ treatment or at least to ‘national treatment’ under the trade agreements between China and its major trading partners. The author is of the view that it is time for the foreign investors in China to consider the ISDS as an option to challenge procedural aspects of the Chinese competition law enforcements. By bringing an AML cases before the ISDS, foreign investors may induce Chinese competition authorities to comply with the due process and fair application of the competition laws, thus safeguarding transparency and predictability of the competition law enforcement of China.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123129555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Investment Treaty Arbitration in Asia","authors":"Matthew J. Hodgson, A. Bryan","doi":"10.1093/OSO/9780198827450.003.0024","DOIUrl":"https://doi.org/10.1093/OSO/9780198827450.003.0024","url":null,"abstract":"This chapter seeks to explore China’s approach to bilateral investment treaties and uses this to help consider its possible future strategy. In particular, the chapter considers the interaction of the growth and nature of China’s inward- and outward-bound foreign direct investment, with the protections provided in the BITs and the identity of counterparty states. As enthusiasm for investment treaties in the West stands at a crossroads—in the face of public antipathy in Europe to the draft TTIP treaty, and hostility from the Trump administration to investment treaties in general—there is maybe an opportunity for China to demonstrate leadership and cooperation to regional and global economic partners. This chapter first maps the evolution of the protections provided in China’s investment treaties, from the rudimentary protections in the early generation investment treaties to the wider-scale coverage in the more recent investment treaties. The chapter also reflects upon the extent to which China has succeeded in protecting its outbound investment, and the counter-balance of the protections granted to inbound investment. It considers (the relatively few) cases that have been brought under Chinese investment treaties and performs a statistical analysis of the protection of Chinese foreign direct investment stocks, by reference to competitor economies. Finally, this chapter looks at where China may focus its attentions next, particularly in the context of the Trump administration in the US and China’s investment priorities.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125131573","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Substantive Provisions of the East Asian Trilateral Investment Agreement and their Implications","authors":"W. Choi","doi":"10.1093/oso/9780198827450.003.0013","DOIUrl":"https://doi.org/10.1093/oso/9780198827450.003.0013","url":null,"abstract":"The Korea–China–Japan Investment Promotion, Facilitation and Protection Agreement is the first treaty in the economic field that binds the three Northeast Asian countries together under a single legal instrument. The existence of effective dispute settlement procedures under the treaty will contribute to the creation of a favourable investment climate in the host country. Nevertheless, there have been fears about frivolous or vexatious claims that could inhibit legitimate regulatory actions by governments. How to compose an investment chapter of the Korea–China–Japan FTA that is being negotiated is a pressing demand for all in the region. Any pertinent answers to such a quest require a thorough comparison of the benefits and drawbacks of any development of relevant rules and governance. In the end, a quest for better international investment governance in Northeast Asia in the future requires sound evaluation of lessons from the past and present.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115601642","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Lessons Learned from the Canada–China FIPA for the US–China BIT and beyond","authors":"K. Dickson-Smith","doi":"10.1093/OSO/9780198827450.003.0008","DOIUrl":"https://doi.org/10.1093/OSO/9780198827450.003.0008","url":null,"abstract":"Key lessons can be made from analysing a unique and recent BIT, the Canada–China Foreign Investment Protection Agreement (FIPA), in order better to predict and identify the opportunities and challenges for potential BIT counterparties of China (such as the United States, the European Union (EU), India, the Gulf Cooperation Council, and Columbia). The Canada–China FIPA and the anticipated US–China BIT (and EU–China BIT) collectively fall into a unique class of investment agreements, in that they represent a convergence of diverse ideologies of international investment norms/protections with two distinct (East/West) underlying domestic legal and economic systems. The purpose of this chapter is to appreciate and utilize the legal content of the Canada–China FIPA in order to isolate the opportunities and challenges for investment agreements currently under negotiation (focusing on the US–China BIT). This analysis is conducted from the perspective of China’s traditional BIT practice and political–economic goals, relative to that of its counterparty. This chapter briefly addresses the economic and broader diplomatic relationship between China and Canada, comparing that with the United States. It then analyses a broad selection of key substantive and procedural obligations of the Canada–China FIPA, addressing their impact, individually and cumulatively, to extract what lessons can be learned for the United States (US) and other negotiating parties. This analysis identifies the degree of investment liberalization and legal protection that Canada and China have achieved, and whether these standards are reciprocally applied. The analysis is not divorced from the relevant political economy and negotiating position between China and the counterparty and the perceived economic benefits of each party, as well as any diplomatic sensitive obstacles between the parties. While this chapter does not exhaustively analyse each substantive and procedural right, it provides enough of a comprehensive basis to reveal those challenges that remain for future bilateral negotiations with China.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"153 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131298140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Issues on SOEs in BITs","authors":"Xinquan Tu, Nan Sun, Z. Dai","doi":"10.1093/OSO/9780198827450.003.0011","DOIUrl":"https://doi.org/10.1093/OSO/9780198827450.003.0011","url":null,"abstract":"The issue on state-owned enterprises (SOEs) has never gone away once China began sitting around the negotiating table, especially with the United States. Sixteen years ago, when China was expecting to enter the multi-lateral trading system, there were special sections for state trading enterprises in its accession protocol in accordance with Article XVII in GATT1994. While in bilateral investment treaty (BIT) negotiation with the US, which was reignited in 2008 and has undergone twenty-nine rounds of talks, the issue of SOEs was brought up to the table again and seemingly became a key point blocking the negotiation. However, with uprising economy scale and front-ranking position in global trade and investment, it seems unsatisfying of China to give the same commitments concerning SOEs as it did in WTO negotiation which was sixteen years ago. To put the BIT negotiation forward on the SOE issue needs new solutions","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134551742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Towards an Asia-Pacific Regional Investment Regime","authors":"Amokura Kawharu, L. Nottage","doi":"10.1093/OSO/9780198827450.003.0015","DOIUrl":"https://doi.org/10.1093/OSO/9780198827450.003.0015","url":null,"abstract":"Many similarities and occasional differences are evident concerning the current approaches of Australia and New Zealand towards investment treaties, including the now politically sensitive issue of investor–state dispute settlement (ISDS). This chapter considers the potential of these two closely integrated countries to influence the future design of investment treaties in the Asia Pacific region, including for the Regional Comprehensive Economic Partnership (RCEP or ‘ASEAN+6’ agreement) – the negotiations for which include China. The chapter compares key areas of existing treaties already signed by Australia and New Zealand, as well as apparent positions set out by them in a leaked draft RCEP investment chapter. Given the concerns about US–style treaty drafting displayed recently by Indonesia and India, major economies still negotiating RCEP with Australia and New Zealand (as well as bilateral agreements with the former), the chapter also considers the scope for Australia and New Zealand to promote more pro-state provisions regarding both substantive commitments and procedures such as ISDS, which characterize contemporary preferences of the European Union. The chapter concludes that a transition to a new generation of treaties is likely not only given the evolving preferences of counterparties and local politics, but also because of various policy arguments for dialing back treaty commitments to foreign investors—albeit without eschewing them altogether.","PeriodicalId":112957,"journal":{"name":"China's International Investment Strategy","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131359500","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}