Study On Investment Facilitation-Related Terms In RCEP

Investment facilitation is a newly proposed practice that is more procedural and facilitates foreign investors,but there is still not form a clear and unified definition in terms of theory.From the perspective of various international organizations,corresponding documents have been issued for investment facilitation.However,developed countries and developing countries have different national conditions and have different reflections on investment facilitation.On November 15,2020,the Economic and Trade Ministers of 15 countries including ten ASEAN countries and China signed the Regional Comprehensive Economic Partnership(RCEP).RCEP has specially set up Article 17-Investment facilitation terms in part 10 Investment part,which specifies the basic requirements that contracting parties,as host countries,should fulfill when performing their investment facilitation obligations,and in Articles 3 and 8.Article clarifies the pre-establishment national treatment plus negative list system,which has set an Asian example for the specific practice of investment facilitation in developing countries.Based on the above facts,this article takes the implementation difficulties encountered in the implementation of RCEP investment facilitation terms as the starting point,and is committed to putting forward suggestions for our country to reasonably solve the problems arising from the implementation of RCEP investment facilitation terms.This paper is divided into four parts.The first part mainly discusses the theoretical cornerstone of the investment facilitation-related provisions of RCEP.Firstly,the guiding theory of neoliberalism for trade facilitation and investment facilitation is clarified,and the guiding significance of neoliberalism theory and trade facilitation theory to investment facilitation is analyzed,and the connection between the two is clarified.Secondly,the connotation of investment facilitation is clarified,that is,according to the analysis of the relevant provisions of RCEP investment facilitation and the comparison with the definitions of investment facilitation of other international organizations,the connotation of the specific requirements of investment facilitation is clarified as follows: attracting foreign investment,covers the full investment cycle,process simplification,transparency and predictability.Finally,the significance of investment facilitation for attracting foreign capital is discussed.The second part mainly reviews and analyzes the relevant provisions of investment facilitation under RCEP.The first is to attract foreign investment,discussing the origin of the terms of attracting foreign investment,as well as the current domestic laws of various countries on attracting foreign investment,making it clear that attracting foreign investment has been generally recognized and valued.The second is to cover the entire investment cycle.In this part,it mainly discusses the pre-establishment national treatment plus negative list system,which deserves attention as the most focused issue in the investment cycle.The third is the principle of simplification of procedures.It is worth mentioning that China has formulated relevant legislation in this regard,such as the "Foreign Investment Law" and the "Regulations for the Implementation of the Foreign Investment Law",and established practices that meet the performance requirements of RCEP.Fourth,transparency and predictability.It analyzes five aspects: publicizing investment information,establishing a "one-site" platform,establishing a complaint mechanism,increasing the transparency of domestic government cooperation,and increasing the transparency of international cooperation.Finally,there is the part of the dispute resolution mechanism.After analysis,it is not appropriate to remedy matters related to investment facilitation through mechanisms such as litigation and arbitration,but rather through methods such as consultation and mediation.The third part mainly analyzes the obstacles of the current investment legislation of our country to fulfill the relevant provisions of RCEP investment facilitation.First,the impediment comes from the imperfection in the regulations of the negative list management department of our country,and investors may be dissatisfied with the exception terms in the negative list.Second,investors are confused by the transparency of overgeneralization national security reviews when applying for investments.Finally,the RCEP investment facilitation terms stipulates that in order to achieve investment facilitation,the "single window" system for international investment should be improved.In the "single window" of international investment,many administrative supervision departments are involved.Therefore,how to clarify the operating entities of the "single window" for international investment,clarify the rights and obligations and subsequent responsibilities between departments,and how to pursue accountability in the event of disputes are inevitable issues in the current construction of the "single window" for international investment.The fourth part mainly discusses how to make our country better implement the relevant provisions of investment facilitation in RCEP.In terms of the negative list,a reasonable explanation should be given to the negative list of our country,and a detailed list of exceptions should be listed to improve the investment access efficiency of our country.In terms of national security review,the "Anti-Foreign Sanctions Law" should be used reasonably,and a coordination mechanism for anti-foreign sanctions should be established for countermeasures.In addition,the national security review judicial review system of our country is improved,and remedies are provided;in addition,according to the principle of reciprocity,corresponding legal remedies are provided for national security review.Finally,in terms of the construction of the "Single Window",it is necessary to clearly define the operating entities of the "Single Window" for international investment in the law,and propose a clear definition of the "Single Window" departmental cooperation methods,rights and obligations,distribution of responsibilities,and the countermeasures of the dispute settlement mechanism of the participants.