Formulation And Implementation Of The G20 Guiding Principles For Global Investment Policymaking And China's Role

In the process of globalization,G20 has come into being an indispensable role as an influential international economic cooperation forum since Financial Crisis in 2008.The issue of investment has become increasingly important in international financial governance.Although international investment has gradually surpassed trade,becoming an important means of organizing international production and serving foreign markets,its legal system for international investment lagged behind.In the process of global go'vernance,as an important founder of the G20,a participating country as well as a host country of the G20 Summit,China has the responsibility in contributing China's solutions and wisdom to promote the standardization of international investment rules.As a responsible state,China is supposed to contribute more to the international society commensurate with its strength and status together with other economies to promote the further development of the global investment governance system effectively in a more democratic direction,aiming to reform those unfair and unreasonable rules existing in the international orders.This paper mainly focuses on the following issues:First,it will review the development of past international investment rules,briefly analyze the main trends of current treaty practice and the characteristics.The current opportunities and challenges brought by the international investment agreement system to policy makers and international investment agreement negotiators and relevant suggestions will be provided.The focus is on exploring the background and content interpretation of the international investment rules before and after the formation of the G20 Guiding Principles for Global Investment Policy,analyzing the results of G20 Summit to discuss the feasibility of implementation of the principles and related data to provide consummate suggestions.China-led "China's Solution" could be used to promote the reform of the current international investment agreement system and the construction of future global investment system within the multilateral framework and further improve global investment governance;on the other hand,it can promote the domestic foreign investment management system and investment.The reform may establish a model for the future construction of a global investment system.