Research On The Issue Of Transparency In International Investment Arbitration

As an important way to solve the international investment disputes,international investment arbitration has always been the problem of over protecting the interests of foreign investors and ignoring the public interest of the host country,facing the crisis of legitimacy.In order to protect the public interest of the host country,increasing the transparency of international investment arbitration is one of the important ways to resolve the crisis of legitimacy.In recent years,many international investment agreements and arbitration rules are included in the Transparency Clause,the practice of international investment arbitration also reflects the support of the arbitration tribunal for transparency reform.Transparency reform has become the mainstream of the development of international investment arbitration.Currently,China's attitude towards transparency rules is more ambiguous,and the system of transparency rules is incompletely.China is in the critical period of the dual role of capital importing countries and capital exporting countries,the government should correctly understand the impact of transparency,and actively participate in the trend of transparency reform,make a transparency rules system accounting with our national interests.This paper is divided into four parts,the first part introduces the origin of and the concept of transparency rules,and the significance of the international investment arbitration transparency reform.The second part discusses the development of transparency in investment arbitration mechanism,introduced the transparency rules under NAFTA,ICSID,UNCITRAL and TPP.In addition,this part makes a comparison on the transparency of investment arbitration in different regional investment agreement,in order to analyze the development of transparency.The third part of the article is through the specific case,to understand the use of transparency rules and the relevant restrictions in the arbitration practice.The last part discusses that the position and the countermeasures of China,noting that when China has signed BIT and FTA,we should pay attention to the reality,and take a broad view to the future.We also should actively recognize the significance of transparency rules,draw lessons from the international practice of transparency,weigh the advantages and disadvantage,perfecting international investment arbitration transparency rules.