The Legislative Consideration On The China's Direct Investment In Africa

With the development of economy and improvement of political conditions in Africa these years, Africa countries opened their markets and released a series of policies and laws to attract foreign capital, which have been accelerating the economic development. Gradually, more and more countries invest in Arica. After the "Going out" strategy putting forward, China's direct investment in Africa increased quickly. Direct investment in Africa is a hotspot of international society. The economy between Africa and China is mutual complementarity, the close friendship between ours is the cornerstone for China's investment in Africa. As for Africa, Chinese enterprises'investment has provided useful technology, trained experts, enriched the market, improved the living standard, increased the revenue, created the job opportunity, which has created a preferable economic and social condition. Meanwhile, it enhanced our enterprises'international competitive strength, and provided our country with the needed energy sources. It is a win-for-all situation.China's direct investment in Africa obtained prominent success. Whereas, it also causes some problems that have affected investment in Africa. To resolve the problems, we need a correlative law. Because of the special history and especial actuality, Africa is a unique region which leads the investment there is different to other regions, that needs particular policy for Africa to be carried out by our government. Furthermore, the existing foreign direct investment law is deficient. It lacks of pertinency and maneuverability when applied in the problems to invest in Africa. Therefore, it is necessary to constitute a special law to guide and regulate the investment in Africa.First, the text introduced the investment circumstances in Africa and the current status of China's investment in it, pointing out the importance to invest in Africa and the existing problems, putting forward that the best way to solve the problems is the establishment of laws and rules. Whereafter, it introduced our country's existing law on investment in Africa, including those in domestic legislation and international treaty. Then, it put forward the necessity to constitute the law of China's direct investment in Africa. On the one hand, it's the particularity in Africa issues, Africa-China's relationships and the special policy to Africa result in the differences between the investment in Africa and in other regions. China's direct investment in Africa is based on China's African Policy Paper, combined to trade and aid. On the other hand, the existing foreign direct investment law is deficient, it can't deal with the problems. Thus, constitute the law of China's direct investment in Africa is important. In the end, it's about the real question of the constitution of the specific law. We can take African Growth and Opportunity Act as reference and link the practice of China's investment with that of Africa to demonstrate the main issues on law.