Since China adopted its 'open door' policy in 1978, which altered its development strategy from self-sufficiency to active participation in the world market, its goal has remained unchanged: to assist the readjustment of China's economy, to coordinate its modernization programs, and to improve its quality of life. With the 1997 launch of the 'Going Global' policy, an outward focus regarding foreign investment was added, to circumvent trade barriers and improve the
competitiveness of Chinese firms. In order to accommodate inward and outward investment, China's participation in the international investment regime has underpinned its efforts to join multilateral
investment-related legal instruments and conclude international investment agreements. This collection, compiled by award-winning scholar Professor Julien Chaisse, explores the three distinct tracks of China's investment policy and strategy: bilateral agreements including those with the US and the EU; regional agreements including the Free Trade Area of the Asia Pacific; and global initiatives, spear-headed by China's presidency of the G20 and its 'Belt and Road
initiative'. The book's overarching topic is whether these three tracks compete with each other, or whether they complement one another - a question of profound importance for the country's political and
economic future and world investment governance.
Since China adopted its 'open door' policy in 1978, which altered its development strategy from self-sufficiency to active participation in the world market, its goal has remained unchanged: to assist the readjustment of China's economy, to coordinate its modernization programs, and to improve its quality of life. With the 1997 launch of the 'Going Global' policy, an outward focus regarding foreign investment was added, to circumvent trade barriers and improve the
competitiveness of Chinese firms. In order to accommodate inward and outward investment, China's participation in the international investment regime has underpinned its efforts to join multilateral
investment-related legal instruments and conclude international investment agreements. This collection, compiled by award-winning scholar Professor Julien Chaisse, explores the three distinct tracks of China's investment policy and strategy: bilateral agreements including those with the US and the EU; regional agreements including the Free Trade Area of the Asia Pacific; and global initiatives, spear-headed by China's presidency of the G20 and its 'Belt and Road
initiative'. The book's overarching topic is whether these three tracks compete with each other, or whether they complement one another - a question of profound importance for the country's political and
economic future and world investment governance.
Zhao Hong: Forward
Julien Chaisse: Introduction: China's International Investment Law
and Policy Regime- Identifying the Three Tracks
1: Michael J. Enright: China's Inward Investment: Approach And
Impact
2: Hui Yao Wang and Lu Miao: China's Outward Investment: Chinese
Enterprise Globalization's Characteristics, Trends, and
Challenges
3: Na Li: Impact of Tax Factors on Chinese FDIs
4: Lu Wang: SOE Investments and The National Security Protection:
Implications For China
5: Jie (Jeanne) Huang: Nationwide Regulatory Reform Starting From
China's Free Trade Zones: The Case Of Negative List Of
Non-Conforming Measures
6: Manjiao Chi: Addressing Sustainable Development Concerns through
IIAs: A Preliminary Assessment of Chinese IIAs
7: Kyle Dylan Dickson-Smith: Lessons Learned from The Canada-China
FIPA For The US-China BIT And Beyond: Chinese Whispers Or Chinese
Checkers?
8: Hadas Peled and Marcia Don Harpaz: Innovation as a Catalyst in
the China-Israel Investment Relationship:The China-Israel BIT
(2009) and the Prospective FTA
9: Flavia Marisi and Qian Wang: Drivers and Issues of China-EU
Negotiations for A Comprehensive Agreement on Investment
10: Issues on SOEs in BITs: The (Complex) Case of the Sino-US BIT
negotiations
11: Matthew Levine: Towards A Fourth Generation of Chinese Treaty
Practice: Substantive Changes, Balancing Mechanisms, And Selective
Adaption
12: Won-Mog Choi: Substantive Provisions of East Asian Trilateral
Investment Agreement and Their Implications
13: Heng Wang: The RCEP Investment Rules and China: Learning From
the Malleability of Chinese FTAs
14: Amokura Kawharu and Luke Nottage: Towards an Asia-Pacific
Regional Investment Regime: The Potential Influence of Australia
and New Zealand as a Collective Middle Power
15: Horia Ciurtin: A New Era in Cross-Strait Relations? A
Post-Sovereign Enquiry in Taiwan's Investment Treaty System
16: Karl P. Sauvant: China Moves The G20 Toward An International
Investment Framework And Investment Facilitation
17: Anna Joubin-Bret and Cristian Rodriguez Chiffelle: G20 Guiding
Principles for Global Investment Policy-Making: A Stepping Stone
for Multilateral Rules on Investment
18: Sophie Meunier: Beware of Chinese Bearing Gifts: Why China's
Direct Investment Poses Political Challenges in Europe and the
United States
19: Ka Zeng: The Political Economy of Chinese Outward Foreign
Direct Investment in "One-Belt, One-Road (OBOR)" Countries
20: Manzoor Ahmad: China's Role And Interest In Central Asia:
China-Pakistan Economic Corridor
21: Susan Finder: The International Fraud & Corruption Sanctioning
System: The Case of Chinese SOEs
22: Joel Slawotsky: He Who Makes the Rules Owns the Gold: The
Potential Ramifications of The New International Law Architects
23: Matthew Hodgson and Adam Bryan: Investment Treaty Arbitration
in Asia: The China Factor
24: Jane Willems: Investment Disputes Under China's Bits:
Jurisdiction with Chinese Characteristics?
25: Claire Wilson: Protecting Chinese Investment Under the
Investor-State Dispute Settlement Regime: A Review In Light Of Ping
An V Belgium
26: Sungjin Kang: Use Of Investor-State Against China's Enforcement
of The Anti-Monopoly Law: Belling The Panda?
27: Shu Shang: Implementing Investor-State Mediation in China's
Next Generation investment Treaties
Julien Chaisse is Professor at the City University of Hong Kong,
School of Law. He is an award-winning scholar of international law
with a focus on the regulation and development of economic
globalization. His teaching and research include international
trade/investment law, international taxation, international
arbitration, and Internet law. Dr. Chaisse has published numerous
well-regarded and widely cited books and articles and his
scholarship has been cited with
approval by international courts/tribunals, and U.S. Courts.Dr.
Chaisse has over fifteen years teaching experience at universities
mainly in Hong Kong, U.S., and Europe. Dr. Chaisse served as a
senior
fellow at the World Trade Institute (Switzerland), and as a
diplomat for the Embassy of France in New Delhi (India).
China's International Investment Strategy: Bilateral, Regional, and
Global Law and Policy provides a comprehensive and thorough
analysis of the most contentious subjects of international
investment law, with a focus on China's increasing role in the
shaping of international rules and governance. As a long-time
observer of the theory and practice of international investment
law, I am delighted to see the publication of this book and
strongly recommend it as a must read on the subject for both
academics and students alike.
*Tong Qi, ICSID Review*
China's International Investment Strategy [...] is an important
legal treatise for understanding the trajectory of China's
investment -based economic transformation. [...] Amidst a
burgeoning US-China trade war, China's economic slowdown,
introduction of investment screening reforms in the EU and China,
China's newly passed Foreign Investment Law and scepticism of the
Belt and Road, this book is a timely and essential volume for
understanding the challenges ahead of China and its global
partners. In the midst of renewed attempts for multilateral
investment norm regulation, this book is also a reminder that
bilateralism remains the standing order of internationalinvestment
law. Overall, this is an important compendium providing broad
perspectives and insights.
*Duong Nguyen, Journal of International Economic Law*
In this book, Professor Julien Chaisse, a renowned scholar in the
field of international economic law and China-expert, focuses on
one the countries which are proactively (re)shaping our
understanding of the international order: the People's Republic of
China. This edited book presents, in a comprehensive, accurate, and
organized manner, the gradual definition of China's investment
strategy [...] most of the leading scholars and professionals who
contributed to the book are based in Asia and working on a daily
basis on issues relating to China. [...] Thanks to this book, the
motivations behind China's strategy are clearer now.
*Paolo Farah, Leiden Journal of International Law*
Readers who seek a better understanding of China's policy towards
international investment law, giving context to the present reform
as well as an understanding of its drivers, have an expansive
resource in China's International Investment Strategy: Bilateral,
Regional, and Global Law and Policy, edited by Professor Julien
Chaisse with chapters by thirty-five authors. The compendium casts
a net at once wide and deep enough to appeal both to specialists
and a general readership. [...] Stepping back from the mosaic of
commentaries, the reader nevertheless observes harmonies and
tensions in China's investment policy. The compilation presents
China as a willing investment policy-maker on the global stage
whose treaty practice shifts to accommodate political and economic
realities even as it gains coherence in some areas.
*James Claxton, International Journal of Public Law and Policy*
This book offers an impressive number of well-developed analyses of
the most important and cutting-edging issues arising out of China's
international investment strategy and policy. Considering the
fast-changing nature of China's involvement in the international
investment regime, including numerous recent and forthcoming trial
initiatives, more and more issues are emerging to be researched
[...] This book provides readers with a comprehensive picture of
the characteristics of China's international investment policy, as
a fundamental basis for the exploration of new issues and
challenges which are reshaping international law and global
governance.
*Mengjing Kong, Manchester Journal of International Economic
Law*
The book is part of the Oxford International Law series of
publications. In their preface to the book, the editors of this
series (Professors Mitchell and Voon), observe that China's
International Investment Strategy is "an invaluable contribution to
our understanding of China's international investment law strategy
across domestic, bilateral regional and global levels." I agree
entirely and would add that the book also is a must-have for all
who wish or need to understand China-related investment disputes.
This will be for many years to come a major work for China scholars
and practitioners alike.
*Romesh Weeramantry, Asian Dispute Review*
China's International Investment Strategy contains original
research and breaks new ground in addressing key problems raised by
China's three-prong investment policy. The strength of the book is
its coverage, both in terms of the range of issues discussed, as
well as, the regions and countries that would be benefited by the
discussions. Some of the chapters have adopted qualitative analysis
while others have heavily relied on data and statistics. In this
respect, the book contains unique and valuable insights for
cross-discipline researchers such as political scientists, and
economists. [...] China's International Investment Strategy will
undoubtedly facilitate debate that would be useful for future legal
scholarship.
*Tanjina Sharmin, Asia Pacific Law Review*
I have no hesitation in recommending this book to those
international legal practitioners who are dealing with China's
international investment-related issues and those who are
interested in the legal, international relations and economic
perspectives of China's policy towards international investment
law. This book is reader-friendly, informative and pragmatic. In
conclusion, this book will become an essential reference for those
readers who want to learn more about the legal aspects of China's
international investment regime.
*Charles Ho Wang Mak, China and WTO Review*
The kaleidoscope of contributions attest to the protean and
possibly undogmatic approach China takes towards international
investment policy. The work is an excellent balance of breath and
depth, and is accessible to scholars, economists and practitioners
alike. In sum, this work is an excellent addition to the growing
cast of scholarship on Chinese investment law and a worthy addition
to Oxford University Press's International Economic Law series.
*Nelson Goh, European Investment Law and Arbitration Review*
By providing a comprehensive analysis of China's international
investment law and policy, which currently stands between these two
major challenges, the book expands the parameters of the
conventional wisdom on China's investment strategy, thereby
providing critical insights for future research.
*Dilini Pathirana, Transnational Corporations Review*
This book is comprehensive in terms of its coverage of the issues
in width, such as China's domestic regulation of inwards FDI,
evolution of Chinese IIAs, and China's participation and leadership
in regional and global agenda setting. It also conducts in-depth
inspection on sensitive aspects, such as the problems accompanying
Chinese SOEs, and possible use of ISDS against China. This
pioneering book helps to bridge the understanding gap between
China's increasing global ambition and its normative ramifications.
This book is a critical milestone in the scholarly literature of
international law because it provides a roadmap to the many issues
that can arise under China's international investment law and
policy and proposes ways of ensuring effective, informed and fair
understanding in a field that is becoming increasingly important
(and contentious).
*Chi-Chung Kao, Asian Journal of International Law*
The book responds to the recent change in China's overall role in
global investment: still the largest recipient of foreign direct
investment (FDI) but also, since 2014, a net capital exporter as
the second largest source of FDI. The question is how China manages
to "balance" this "dual role" through a system of international
investment agreements (IIAs) while seeking actively to mould the
rules of global investment [...] his book illustrates how shifting
international conditions and China's own behaviour belie the
"responsible stakeholder" role marked out for China by others.
*Stephan Minas, Chinese Journal of International Law*
This is a first-rate book on how to comprehend and approach the
retrospective, current practices, and development tendencies of
China's investment policy in the format of tripartite of bilateral,
regional, and global investment agreements, as well as local
reforms that are presently restructuring the regulatory framework
for foreign direct investment in China. It is an indispensable
reference for national and international policymakers, legal
practitioners and scholars in the field of international investment
and trade law.
*Vasily Erokhin, Marketing and Logistics Journal*
One theme that emerges across contributions in the book is the
requirement of a holistic strategy. The various tracks (bilateral,
regional, global) no longer operate in isolation. China's ability
to take centre-stage in regional and global economic governance in
the wake of the western world's receding influence will depend on
its ability to present a consistent front and rally consensus [...]
The book's achievement is the clarity with which it addresses
issues which are yet evolving. As such, it is a useful tool for
negotiators, policy-makers, advisers and other professionals
concerned with cross-border investments involving China or indeed
involving any other emerging economy pursuing expansion in the
field of international economic law.
*Manini Brar, Frontiers of Law in China*
In an unmatched critical manner, the book provides a comprehensive
investigation of China's investment policy and its effects in other
jurisdictions, effectively filling a considerable gap in the
existing literature. It is relevant to all who work in investment
law, including policymakers. The book China's International
Investment Strategy: Bilateral, Regional, and Global Law and Policy
will sit at the vanguard of excellence for the next generation of
scholarship on China international investment law and policy.
*Can Eken, Public and Private International Law Bulletin*
The book combines legal, economic and international relations
perspectives, to provide a comprehensive analysis of the subject.
... The current debate and concerns over national security issues
concerning the participation of the Chinese company Huawei in the
expansion of the 5G network in the US and UK (and elsewhere) and
the threat by China about possible repercussions on Chinese
investment in Europe [...] are proof for the urgent need of a
comprehensive and rigorous academic analysis in this field from
complementary regulatory and policy angles - which is exactly what
this book offers. [...] This book is an essential reading for
policymakers, academics, business and researchers to comprehend the
growing complexity of China's international investment strategy and
its implication for partners countries and the world economy.
*Christian Bellak, APEC Currents*
... if we were to recommend any book for scholars or practitioners
alike, the edited volume of Prof. Julien Chaisse would be an
obvious choice as one of the most recent, but more importantly most
profound, and complex legal analysis of the complexities of China's
International Investment Strategy.
*Yu Lu and Maciej Zenkiewicz, Polish Yearbook of International
Law*
Professor Chaisse of City University of Hong Kong realises a tour
de force in putting together the 27 chapters into a coherent and
powerful volume. The book presents a ground-breaking approach and a
wealth of thought-inspiring insights into the transformation and
systemic impact of China's international investment rule-making and
participation in investor-state arbitration. This book will prove
to be essential reading for legal scholars and professionals alike,
as well as benefitting NGOs, stakeholders in international economic
governance and policymakers looking for in-depth insight into
China's increasing role in the international regulation of foreign
investment [...] Julien Chaisse's and the contributor's excellent
work will be able to assist BRI professionals, policy makers and
other interested parties to comprehend the impact of China's
nvestments on the regional and global legal framework.
*Sufian Jusoh, E-pública Revista Eletrónica de Direito Público*
Il volume segnalato raccoglie, oltre ad una prefazione della
Prof.ssa Zhao Hong (Appellate Body - WTO) ed una introduzione del
curatore dell'opera, Prof. Julien Chaisse (City University of Hong
Kong), ventisette saggi, a firma di accademici, giovani studiosi e
professionisti, che si propongono di svolgere un'analisi giuridica
delle politiche di investimento cinesi. [...] Risulta evidente
dalla varietá dei temi trattati che si tratta di un'opera di ampio
respiro in grado di offrire al lettore una panoramica puntuale e
completa della attuale visione strategica della Cina nell'ambito
del settore degli investimenti internazionali.
*Martino Zulberti, Diritto del Commercio Internazionale*
The chapters cover a wide range of topics, from broader issues and
challenges such as globalisation of Chinese enterprises and the
influence of tax policy on Chinese investments to the addressing of
sustainable development concerns in Chinese investment agreements.
Together, they create a harmonious narrative of the growing and
multifaceted role of China as a major economic power in the
international economic arena [...] As a whole, in order to provide
a comprehensive analysis of the subject, the volume combines legal
and international relations perspectives. As such it serves as an
excellent source for legal and IR scholars, policymakers and
practitioners alike, as well as others who are interested in
international economic governance and contemporary China's
commercial policy in times of the growing use of economic tools for
geopolitical purposes.
*Ond%rej Svoboda, Charles University, Prague, Czech Republic, Czech
Journal of International Relations*
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