| Overseas investment of China started relatively late, and has weak infrastructure. It is still at the primary stage of development. But under the guidance of "going out" strategy in the 15th National Congress, overseas investment of China has developed rapidly in recent years. The quantity and amount of overseas ventures have grown relatively fast, and overseas investment has gradually become the main propelling force behind China's economic growth. However, overseas investment is one kind of high-risk activity. In addition to normal commercial risks, overseas investors also need to undertake the political risk which may not be completely avoided. The high-risk of overseas investment directly damages and affects the economic interests and market order of the nation, sometimes even directly threatens the country's economic security. Therefore, the stable development of China's overseas investment needs powerful legal protection.At present, the Chinese domestic law, which is related to the overseas investment, is mainly focused on management and restrict in the aspects of approval, foreign exchange, finance, taxation and so on. China signed and participated a number of bilateral agreements on investment protection and multilateral investment conventions. However, due to lack of coordination between domestic law and international law, numerous international legal regulations could not play protective function completely. Therefore, making a thorough study on legal protection of Chinese overseas investment not only has important theoretical significance on building a complete, efficient mechanism for legal protection of China's overseas investment but also has great practical significance on solving the legal problems encountered, promoting development and maintaining China's economic interests.Apart from the introduction and the conclusion, the thesis includes five parts.The first part analyzes the necessity of legal protection of China's overseas investment. Firstly, overseas investment, which contributes to make full use of natural resources and capital from abroad and bypass trade barriers to expand exportation, has played an important role in China's economic development. Simultaneously, it conducives to absorb the outstanding achievements from contemporary nations. Secondly, compared to domestic investment, overseas investors still undertake political risk besides more commercial risk. Therefore, the effective legal protection for overseas investment is necessary. In addition, legal protection for overseas investment is a universal practice in the world.The second part discusses the domestic law related to protection of China's overseas investment. China's current domestic laws related to overseas investment are mainly focused on management such as overseas investment approval, foreign exchange management, financial management and other aspects of tax administration, not the protection. The provisions which aims to protect mainly embodies as follows: the investment barrier reporting system, applying for starting the tax consultation procedure and relaxing foreign exchange management policy.The third part discusses the international law related to protection of China's overseas investment. With respect to bilateral agreement, the provisions on investor and investment treatment, expropriation in the bilateral investment protection agreement, tax on non-discriminatory treatment and avoidance of double taxation in double taxation agreement played an important role in protection of overseas investment. As far as the multilateral agreement is concerned, the provisions on investor of TRIMs Agreement, GATS and TRIPS, as well as Multilateral Investment Guarantee Agency Convention can also provide protections to some extent.The fourth part analyzes the defects existing in the current legal system of Chinese overseas investment. It contains the problems of existing in the overseas investment protective regulations, lacking of overseas investment guarantee system, differences investment treatment between the state-owned enterprise and the privately operated enterprise as well as lacking of coordination between domestic law and the international law. The fifth part explores proposals to improve the legal protection of overseas investment. At national level, we should establish the perfect legal system for overseas investment and overseas investment guarantee system, and reinforce the protection to private enterprises overseas investment. At the international level, we should strengthen and improve the bilateral investment treaty construction and make full use of the multilateral investment convention.
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