The New Development Of Dispute Settlement Rules Of American Bilateral Investment Treaties And Its Enlightenment To China

With the rapid development of the international economy and the increasing activity of international investment,the number of investment disputes between investors and host countries has also increased day by day.Great changes have taken place in the rules of settlement of investment disputes in the field of international investment.As the representative of the new development of the international investment,the model of the BIT,aiming at various changes of the environment at home and abroad,has repeatedly modified the substance contents and the investment dispute settlement rules,and finally formed a set of procedures on the basis of the model of 2004.The rule-oriented version of the 2012 BIT is also very clear.In the hot-fire period of the present BIT,China is also in line with the reform of the dispute settlement mechanism in the international investment field.In the representative China-Canada BIT,we have used the experience of the United States to improve the settlement rules of the investment dispute,but there are still some shortcomings.At this stage and for a considerable period of time in the future,China will remain in the position of a capital importer as a developing country,It is still worth paying attention to such issues as pre-arbitration binding low in BIT,unreasonable provisions on matters of dispute that may be referred to arbitration,weakening the principle of local remedies and the relatively low transparency of arbitration proceedings.Therefore,China is not appropriate to copy the United States experience and blindly imitate or replicate the provisions of the United States and other developed countries,when it signs the BIT.We should consider the national conditions of our country,combine the actual demand of foreign investment at present,perfect and innovate the investment dispute settlement rule on the basis of the international mainstream dispute settlement rules.Such as strengthening the application of negotiation and negotiation in BIT,refining negotiation rules,introducing mediation mechanism,reasonably exhausting local remedies principle,further expanding thetransparency of arbitration procedure,perfecting and practicing arbitration appeal mechanism,etc.The above measures can make a variety of dispute settlement mechanisms cross-merge,give full play to their respective functions,and at the same time be conducive to the creation of a healthy investment environment in China,increase the attractiveness of China’s international investment,and enhance the protection of overseas investors.safeguard our country’s national sovereignty.