Julien Chaisse (ed.): China's International Investment Strategy: Bilateral, Regional, and Global Law and Policy

Abstract

The phenomenal story of China’s ‘unprecedented disposition to engage the
international legal order’ has been primarily told and examined by political
scientists and economists. Since China adopted its ‘open door’ policy in
1978, which altered its development strategy from self-su!ciency to active
participation in the world market and aimed at attracting foreign
investment to fuel its economic development, the underlying policy for
mobilizing inward foreign direct investment (IFDI) remains unchanged to
date. With the 1997 launch of the ‘Going Global’ policy, an outward focus
regarding foreign investment has been added, to circumvent trade barriers
and improve the competitiveness of Chinese firms, typically its state-owned
enterprises (SOEs). In order to accommodate inward and outward FDI,
China’s participation in the international investment regime has
underpinned its efforts to join multi-lateral investment-related legal
instruments and conclude international investment agreements (IIAs).
China began by selectively concluding bilateral investment treaties (BITs)
with developed countries (major capital exporting states to China at that
time), signing its first BIT with Sweden in 1982. Despite being a latecomer,
over time China’s experience and practice with the international investment
regime have allowed it to evolve towards liberalizing its IIAs regime and
balancing the duties and benefits associated with IIAs. The book spans a
broad spectrum of China’s contemporary international investment law and
policy: domestic foreign investment law and reforms, tax policy, bilateral
investment treaties, free trade agreements, G20 initiatives, the ‘One Belt
One Road’ initiative, international dispute resolution, and inter-regime
coordination.