Research On The Legal System Of China’s Overseas Investment Insurance Under "The Belt And Road Initiative"

After World War Ⅱ,in order to safeguard the interests of overseas investment and maintain its hegemonic status,the United States first implemented the "Marshall Plan" in Europe and established a legal system for overseas investment insurance,and then followed by European countries and successively established their own legal systems for overseas investment insurance.Although the legal system of overseas investment insurance has benefited the recipient countries,due to the hegemonism of Western countries and the establishment of an unfair international economic order,the interests of the vast number of developing countries have not been properly protected at all,and they have even suffered greatly.Today,the world is in a major change unprecedented in a century:the prevalence of"Anti-globalization",the unilateralism of the United States,Brexit,the Conflict between Russia and Ukraine and other international situations,resulting in the international economic order in a state of fragmentation.Therefore,in order to reverse this situation,improve the well-being of the people of all countries,and build a new international economic order,Xi Jinping,standing on the basis of the win-win interests of the vast number of developing countries and people of all countries around the world,put forward the great initiative of building "A community with a shared future for mankind",which is highly praised and recognized by people all over the world.However,there are many problems in the current legal system of overseas investment insurance constructed by Western countries,especially the implementation of hegemonism,the weakening of the principle of national sovereignty,the adherence to the supremacy of national interests,and the failure to adhere to the principle of sustainable development to infringe on the national sovereignty of the vast number of developing countries and damage the domestic economic development of the host country.The norms of the old international investment regime lacked effectiveness in addressingcurrent overseas investment issues.China’s overseas investment insurance legal system under the framework of building "A community with a shared future for mankind" and "the Belt and Road Initiative" is the first attempt in the world,and it is bound to face many difficulties:the boycott of the United States and European countries,the fragmentation of the theoretical framework of the legal system of overseas investment insurance under "the Belt and Road Initiative" and the lack of relevant rules,which cannot regulate overseas investment risks,it is difficult to protect overseas investment interests,it is not conducive to the sustainable development of overseas investment,and hinders the realization of the win-win interests of people around the world.Therefore,this study conducts extensive and in-depth research on the above issues,aims to improve the theoretical framework of the legal system of overseas investment insurance in the context of "the Belt and Road",and put forward specific rules and suggestions to contribute to the construction of "A community with a shared future for mankind".Chapter 1 briefly sorts out the basic contents of China’s overseas investment insurance legal system under "the Belt and Road Initiative".First of all,taking the historical origin of the overseas investment guarantee system as the starting point of the argument,the origin and evolution of the overseas investment insurance law are interpreted,and the historical foundation is laid for the legitimacy and rationality of the construction of China’s overseas investment insurance legal system.Secondly,the actual background of the research is sorted out:"the Belt and Road Initiative"and the partial and overall relationship between "the Belt and Road Initiative" and "A community with a shared future for mankind" is discussed,laying the tone for the construction of China’s overseas investment insurance legal system under "the Belt and Road Initiative".Finally,clarify the legal nature of China’s overseas investment insurance legal system under "the Belt and Road Initiative".Chapter 2 deeply analyzes and summarizes the theoretical and rule problems existing in China’s overseas investment insurance legal system under "the Belt and Road Initiative".The details are as follows:Firstly,the problems existing at the theoretical level of China’s overseas investment insurance legal system.To start with,the theoretical problems of law and economics:the allocation of overseas investment insurance resources is unreasonable,the transaction cost is high,the economic benefits are not ideal,it hinders fair competition,and there is a lack of a reasonable balance between the political risks and economic interests of overseas investment.Next,the theoretical issue of sustainable development:The theory and action of China’s overseas investment insurance law in achieving the sustainable development of overseas investment are insufficient,which affects the realization of the win-win goal of the interests of China and the host country.Last,the problem of adaptive management theory:China’s overseas investment insurance legal system lacks adaptability,cannot realize the dynamic operation and management of overseas investment insurance system,and cannot realize the diversification of investment insurance terms;Secondly,there are problems at the rule level of China’s overseas investment insurance legal system.It is mainly manifested in the low level of overseas investment insurance normative documents,low legal effect,vague content of rules,and lack of operability,which affects the effectiveness of China’s overseas investment insurance laws in legislative acts,rule effects,and judicial practices under "the Belt and Road Initiative".By sorting out and summarizing the theoretical and rule problems existing in China’s overseas investment insurance legal system,we can better establish the theoretical framework of the overseas investment insurance legal system and put forward specific rules and suggestions.Chapter 3 seriously explores the particularity of China’s overseas investment insurance legal system under "the Belt and RoadInitiative".First of all,one of the particularities of this research is to study the construction of China’s overseas investment insurance legal system under the framework of’A Community with a shared future for mankind",so the theoretical framework and practical framework of "A community with a shared future for mankind"guide the value trend of the theoretical framework and rule framework of system construction;Secondly,sort out and summarize the significance and value oflegal economic theory,sustainability theory and adaptability theory into the construction of China’s overseas investment insurance legal system under "the Belt and Road Initiative",so as to lay a rational foundation for the subsequent establishment of the theoretical framework;Thirdly,analyzes the particularity of China’s overseas investment insurance legal system under the background of "the Belt and Road Initiative"from the perspective of sustainable development theory of law and economics and adaptive management theory,and points out the direction for the construction of subsequent rule framework.Chapter 4 introduces and summarizes the experience of China’s overseas investment insurance legal system construction under "the Belt and Road Initiative".The first place,using comparative research methods,the theoretical framework and rule framework of traditional overseas investment insurance laws are sorted out at the level of domestic laws in the United States and Japan,and the theoretical context of institutional construction is more clearly and accurately grasped;The second place,sort out and summarize the theoretical framework and rule framework of the overseas investment insurance system in international law.draw lessons,and make useful references.Chapter 5 puts forward the theoretical framework of China’s overseas investment insurance legal system in the context of "the Belt and Road Initiative".Any legal system construction must be based on a complete theoretical framework.First,establish a legal and economic theoretical framework for the legal system of overseas investment insurance under"the Belt and Road Initiative".From the analysis and summary of institutional theory,transaction cost theory,and Marshall conflict theory.Research,analyze and review the specific application of relevant theories in the construction of the legal system of overseas investment insurance of "the Belt and Road Initiative",and learn from the beneficial parts of economic theory;Second,establish a theoretical framework for sustainable development of"the Belt and Road" overseas investment insurance legal system.Governments have long recognized that,through the right policy settings,they can make a significant contribution to sustainable development and the reduction of social and environmental challenges.The principles and theories of sustainable development are integrated into the legal construction of overseas investment insurance for useful reference,so as to achieve win-win benefits for overseas investment;Third,establish an adaptive legal framework for the legal system of overseas investment insurance of "the Belt and Road".Adapt to the legal system to absorb the impact of overseas investment political risks through diversified investment insurance clauses,and adopt a variety of overseas investment methods or means to solve the problem of overseas investment risk losses.Chapter 6 briefly constructs the regulatory framework for the construction of the legal system for overseas investment insurance in "the Belt and Road Initiative".First,the legal construction of China’s overseas investment insurance under "the Belt and Road Initiative"must follow the three basic principles of International Economic Law:the Principle of National Economic Sovereignty,the Principle of Fairness and Mutual Benefit,and the Principle of International Cooperation for Development.In addition,under the guidance of the concept of mutual benefit and win-win results,we will build a complete rule framework under institutional openness,based on the principle of reasonable interests,sustainable development and institutional diversification extended from the theoretical framework;Second,specific rules for China’s overseas investment insurance legal system under "the Belt and Road Initiative"are proposed.The Overseas Investment Insurance Law shall also stipulate overseas investment insurance contracts:overseas investment equity insurance contracts,overseas investment debt insurance contracts,overseas investment insurance institutions,overseas investment insurance operation rules,overseas investment insurance industry supervision and management,and other matters.In summary,this study solves the following problems:First,the construction of the legal system of overseas investment insurance of "the Belt and Road Initiative" is studied under the framework of "A community with a shared future for mankind",and the concept of win-win benefits in the framework of "A community with a shared future for mankind" is used as the core concept of system construction,which shows the particularity of the legal system construction of China’s overseas investment insurance system that is different from the traditional overseas investment insurance legal system;Second,the legal economic theory,sustainable development theory and adaptive management theory are incorporated into the legislation of China’s overseas investment insurance legal system,the importance of basic theories and principles for institutional construction is sorted out,and the theoretical framework for the construction of China’s overseas investment insurance legal system is formed under "the Belt and Road Initiative";Third,according to the theoretical framework guidance of China’s overseas investment insurance legal system under "the Belt and Road Initiative",the specific rules and suggestions of China’s overseas investment insurance legal system under "theBelt and RoadInitiative"are proposed.As a result,this study comprehensively and deeply studies the theoretical and rule framework of China’s overseas investment insurance legal system under the background of "the Belt and Road Initiative",and puts forward some innovative theoretical and rule suggestions,filling the gap in China’s relevant research,and contributing institutional wisdom to China’s participation in global governance and the construction of "A community with a shared future for mankind".