The Reform Of The International Investment Treaty Arbitration

System of International Investment Treaties has made great contributions to the prosperity of international investment. Compared with other solutions to international investment issue, the Arbitration System of International Investment Treaties can more effectively protect the benefits of investors, which is favored by the majority of investors. Foreign investment can be effectively protected, so the enthusiasm of investors will be high. Through the introduction of foreign capital, host countries can gain huge economic benefits and domestic economy is stimulated. However, with the growth of arbitration cases of the international investment treaty, problems in Arbitration System of International Investment Treaty have gradually exposed. People have more and more noticed the drawbacks to Arbitration System of International Investment Treaty and are actively discussing the solution to these problems. Just under such a background, this thesis makes a summary and evaluation to the existing reform measures on Arbitration System of International Investment Treaty and hopes to make contributions to reform issues on this system.The problems existed in Arbitration System of International Investment Treaty is relatively serious, which perform as endangering host country's sovereignty and public interests. Besides, the unconsistency of arbitration also severely damages people's trust to Arbitration System of International investment Treaty. Seeking the ways to solve the problems of Arbitration System of International Investment Treaty is of great significance to protecting host countries and investors. Also, a more comprehensive dispute settlement system can promote more prosperity of international investment.This thesis mainly adopts comparative approach and empirical analysis. By analyzing the cases, this thesis explains the problems existing in Arbitration System of International Investment Treaty. The core of this thesis, various reform measures of Arbitration System of International Investment Treaty, is introduced and evaluated through comparative analysis approach.This thesis is divided into four parts. The first part introduces an overview of Arbitration System of International Investment Treaty. In this part, history, system structure and achievement of Arbitration System of International Investment Treaty is mainly introduced in order to make people understand Arbitration of International Investment Treaty. It is because of the basis of understanding that more in-depth discussion can proceed. The second part of this thesis is about the problems appearing in Arbitration System of International Investment Treaty and analysis of the reasons of these problems. With the development of this system, problems existing in it stand out: partiality of the arbitration to investors seriously damages host country's sovereignty and public interests; unconsistency of the arbitration damages the credibility of Arbitration System of International Investment Treaty. However, problems don't appear for no apparent reasons. The appearance of problems must have a certain reason behind. The analysis to the reasons can help people find a solution to these problems. The third part is the core of this thesis, which introduces current reform measures to Arbitration System of International Investment Treaty through comparative approach and makes analysis and evaluation to these measures. The existing reform measures in the world mainly include:restrictions of explanations of the arbitral tribunal to the treaties so as to avoid the abuse of discretion by the arbitral tribunal, the introduction of joinder system in international investment treaty arbitration, the increase of proceeding transparency and third-party participation system, the establishment of appeal institution of international investment treaty arbitration. The fundamental purpose of these reforms is to solve the problems of variance in arbitration and find a most appropriate point of balance between private interests of investors and national interests of host countries to balance the two interests. The fourth part provides some suggestions for what attitudes and measures China should take when facing the problems existing in Arbitration System of International Investment Treaty, and hopes to play a positive role to China's international investment practice.