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 theinternational legal order’ has been primarily told and examined by politicalscientists and economists. Since China adopted its ‘open door’ policy in1978, which altered its development strategy from self-su!ciency to activeparticipation in the world market and aimed at attracting foreigninvestment to fuel its economic development, the underlying policy formobilizing inward foreign direct investment (IFDI) remains unchanged todate. With the 1997 launch of the ‘Going Global’ policy, an outward focusregarding foreign investment has been added, to circumvent trade barriersand improve the competitiveness of Chinese firms, typically its state-ownedenterprises (SOEs). In order to accommodate inward and outward FDI,China’s participation in the international investment regime hasunderpinned its efforts to join multi-lateral investment-related legalinstruments 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 thattime), signing its first BIT with Sweden in 1982. Despite being a latecomer,over time China’s experience and practice with the international investmentregime have allowed it to evolve towards liberalizing its IIAs regime andbalancing the duties and benefits associated with IIAs. The book spans abroad spectrum of China’s contemporary international investment law andpolicy: domestic foreign investment law and reforms, tax policy, bilateralinvestment treaties, free trade agreements, G20 initiatives, the ‘One BeltOne Road’ initiative, international dispute resolution, and inter-regimecoordination.