Research On The Protection Of Public Interests In Bilateral Investment Agreements

In the economic exchanges between countries,international investment is one of the most important forms.The introduction of overseas investment and capital output is an important way to promote national economic development.However,because there is currently no comprehensive multilateral international investment treaty that can comprehensively adjust international investment,BITs can take into account the special relations between capital exporting countries,host countries,and investors,and coordinate the interests of all parties.It has become the most important means to adjust the international investment relationship.But,the healthy development of the global economy requires more than economic progress.Public interests,such as the increasingly fragile environment and public health,are increasingly damaged by some investment activities.They also need attention.The destruction of public interests by investors' investment activities and the challenges to the host country's control rights are obvious to all.It is a very important issue that how to ensure BITs can effectively protect host countries' sovereign interests and public interests while promoting and protecting international investment.China is not only a host country,but is also gradually becoming a capital exporter of overseas investment.Therefore,in our BITs,we need to achieve a balance between safeguarding the rights and interests of China's foreign investors and protecting public interests,promote economic and social environment harmonious development.This article discusses how to protect the public interest in BITs.Starting from the current text of the most influential bilateral investment agreement,it analyzes the defects and deficiencies in the protection of public interests,and proposes corresponding solutions to these problems.The idea,at the same time,proposes corresponding countermeasures for improving and perfecting the protection of public interests in China's bilateral investment agreement.In the article,we refer to the texts of a large number of countries' BITs,multilateral investment treaties,and special investment chapters in trade agreements analyzing the deficiencies and learn from their advancements.This article specifically discusses how to protect public interests in BITs from the following levels: First,it analyzes the current status of BITs,and it mainly has the characteristics of favored investor protection,strong commercialization,and fragmented public interest rules,etc.;In the text of the agreement,this article argues that in protecting public interests,there are issues that tend to be excessively tended to protect investors,stipulate fragmentation related to public interests,obscure content of some entity rules,and defects in procedural rules;The proposals include establishment of treaty objectives for the protection of public interests,the unification of public interest rules exceptions,the definition of substantive law rules related to public interests,and the improvement of procedural laws for bilateral investment agreements;Finally,combining the practice of BITs in China and the need for protection of the public interest,this article puts forward proposals to improve our BITs.Studying the protection of public interests in BITs has great significance both to make up for the lack of relevant legislation in China and to promote the development of our investment.Therefore,this article has certain reference value for theoretical research and practical application.