Keer HUANG | Between Old and New: Rethinking Modernization of China’s IIA Regime

The article "Between Old and New: Rethinking Modernization of China's IIA Regime" is published in 2023 Asian Journal of WTO & International Health Law and Policy. available on SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4410994.

      Abstract
      With the rapid growth in Foreign Direct Investment (FDI) inflows and outflows, China has been active in modernizing its International Investment Agreement (hereinafter “IIA”) stocks since the beginning of the 21st Century. This article begins by analyzing the necessity of China’s IIA modernization. The modernization of currently effective Chinese IIAs is essential to address problems resulting from the large stock of earlier IIAs, and such modernization is ultimately consistent with the growing power of China in international investment governance. By adopting several reform options in IIA modernization, more balanced, modernized, and elaborated provisions can be found in recent Chinese IIAs. Nevertheless, efforts on Chinese IIA modernization may be ruined owing to multiple overlaps of existing Chinese IIAs, uncertainty on the application of Chinese IIAs to the Special Administrative Regions (hereinafter “SARs”), and insufficient coordination between Chinese IIAs and domestic law. Accordingly, tentative approaches to advance China’s IIA modernization are provided in this article, including addressing treaty relationships among Chinese IIAs, clarifying the application of Chinese IIAs to the SARs, and enhancing coordination between Chinese IIAs and domestic law.

      Keywords: bilateral investment treaty, China, foreign investment law, free trade agreement, IIA modernization, international investment law, ISDS, investment dispute settlement, SAR, treaty overlaps

      JEL Classification: K33

      Suggested Citation:HUANG, Keer, Between Old and New: Rethinking Modernization of China's IIA Regime (March 31, 2023). Asian Journal of WTO & International Health Law and Policy, Vol. 18, No. 1, pp. 181-230, March 2023 , Available at SSRN: https://ssrn.com/abstract=4410994.