Towards a Win–Win EU-China Bilateral Investment Treaty: Challenges and Prospects

Bush, Chunping; Du, Ming

doi:10.1007/978-3-030-86122-3_7

Chunping Bush^nAff2 &
Ming Du³

Part of the book series: Understanding China ((UNCHI))

1056 Accesses

Abstract

Bilateral investment between China and the EU has accelerated rapidly, with both sides seeking a mutually beneficial yet sustainable relationship. Limitations remain however, given that the current legal framework governing EU-China investments are restricted in terms of its regulatory scope. Taken together the fragmented patchwork of investment agreements between the individual EU Member States and China, most of which were concluded back in the 1980s, is in need of a comprehensive review. As such the developments that were facilitated during the EU-China CAI and the US-China BIT will be addressed with consideration of the conflicting perspectives. Given that Europe remains the most favourable destination for Chinese investors, a comprehensive agenda on existing and future investments and access to local markets is critical towards maintaining a progressive economic environment.

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Notes

1.
Regulation (EU) No 1219/2012.
2.
Brunsden and Fleming (2020); EC (2019) Brussels, 1 March 2019 Trade, B2/.
3.
Tao and Shen (2018).
4.
EC (2013b).
5.
EC (2010).
6.
EC (2013a) (hereafter ‘Impact assessment report’).
7.
Hanemann, Rhodium Group and Huotari (2018).
8.
EC, ‘Impact assessment report, supra n 6, 20.
9.
Zhang (2016); Hanemann et al., supra n 7, 9.
10.
EC, ‘Impact assessment report’, supra n 6, 20.
11.
European Economic and Social Committee (2011), S 1.4.
12.
Ibid, S 1.1.
13.
Gao and Jiang (2014) Policies; Central Committee of the Communist Party of China, ‘The 13th Five-Year Plan for Economic and Social Development of the People’s Republic of China 2016–2020’ (2016) Part 3.
14.
European Economic and Social Committee, supra n 11, S 3.3.
15.
EC (2012).
16.
Ecorys & TNO (2017).
17.
European Council (2018). Sources: Eurostat, World Bank.
18.
Eurostat (2017).
19.
Tao & Shen, supra n 3, 1160.
20.
OECD Data (2018).
21.
OECD Data (2018).
22.
Ibid.
23.
Copenhagen Economics, supra n 15, 36.
24.
Tao and Shen, supra n 3, 1164.
25.
Ibid; Zhang, supra n 9, 1.
26.
Zhang, supra n 9, 1.
27.
Copenhagen Economics, supra n 15, 44; Pathirana (2017); Señor Tza Yap Shum v. The Republic of Peru, ICSID Case No. ARB/07/6, 5-9; China Heilongjiang International Economic & Technical Cooperative Corp., Beijing Shougang Mining Investment Company Ltd., and Qinhuangdaoshi Qinlong International Industrial Co. Ltd. v. Mongolia, UNCITRAL, PCA Case No. 2010–20.
28.
Copenhagen Economics, supra n 15, 38; Pathirana, supra n 38; Greece-China BIT, Article 10(2), ‘Any other dispute between an investor and a Contracting Party may be submitted to an international arbitration tribunal, only by mutual consent’.
29.
Schreuer (2001); Tao & Shen, supra n 3, 1166.
30.
Potter (1999).
31.
Czech Republic-China BIT, Article 9(3), ‘China will require the investor concerned to go through the domestic administrative review procedures specified by the laws and regulation of that contracting party before the submission of the dispute to the international arbitration. Such a procedure shall not exceed a period of three months’; Latvia-China BIT 2004, Article 9(2), The investors may lose his right to resort to international arbitration if he fails to withdraw the case before national court’s delivery of judgment; Finland-China BIT 2004, Article 9(3), The investor must withdraw his case before the local court’s judgment had been delivered on the subject matter in order to resort to international arbitration; Portugal-China BIT 2005, Ad Article 9, The investors has to go through the local administrative review process before an international arbitration and only resort to international arbitration after the three-month period elapsed.
32.
Copenhagen Economics, supra n 15, 45.
33.
ECORYs & TNO, supra n 16, 12.
34.
Ibid, 10.
35.
Ibid, 12.
36.
Ibid, 13.
37.
EC (2018a, b).
38.
OECD.stat (2018).
39.
Hanemann et al., supra n 7, 11–13.
40.
Ibid, 13.
41.
OECD.stat, ‘OECD FDI Regulatory Restrictiveness Index,’ supra n 39.
42.
Hanemann et al., supra n 7, 13.
43.
Hanemann et al., supra n 7, 16.
44.
Ibid, 13 and 20.
45.
Ibid.
46.
Davies (2012).
47.
Ibid.
48.
EC, ‘Impact Assessment Report’, supra n 6, 11.
49.
Potter, supra n 31, 680.
50.
Ibid.
51.
Gao & Jiang, supra n 13, Guiding Catalogues; Catalogue for the Guidelines of Foreign Investment 《外商投资产业指导目录》1995.
52.
The Interim Provisions on Guiding Foreign Investment Direction (China) 1995, Article 4.
53.
Lian (2019).
54.
Zhou et al. (2020); Qin (2000).
55.
Gao & Jiang, supra n 13, Guiding catalogues.
56.
Copenhagen Economics, supra n 15, 70.
57.
EC, ‘Impact Assessment Report’, supra n 6, 12.
58.
Gang and Hope (2013).
59.
Copenhagen Economics, supra n 15, 71.
60.
Ibid; BDI (2019).
61.
Gang and Hope, supra n 59, 12.
62.
Ibid; Gao and Jiang, supra n 13, Super-national Treatment Phases Out.
63.
Gang and Hope, supra n 59, 12.
64.
Gao and Jiang, supra n 13, Super-national Treatment Phases Out.
65.
Gang and Hope, supra n 59, 13.
66.
Ibid, 13.
67.
Ibid, 14.
68.
BDI, supra n 61, 3.
69.
EC, ‘Impact Assessment Report’, supra n 6, 19.
70.
Copenhagen Economics, supra n 15, 10.
71.
EC, ‘Impact Assessment Report’, supra n 6, 14.
72.
Potter, supra n 31, 673.
73.
Ibid.
74.
Ibid.
75.
Ibid.
76.
Ibid.
77.
Ibid.
78.
Ibid, 16.
79.
Ibid, 15.
80.
Ibid, 15.
81.
Gang and Hope, supra n 59, 15; ECORYs & TNO, supra n 16, 12.
82.
BDI, supra n 61, 7.
83.
EC, ‘Impact Assessment Report’, supra n 6, 19.
84.
Pickard et al. (2018).
85.
Ibid.
86.
Chazan (2018).
87.
Regulation (EU) (2019).
88.
Zhou, Jiang and Kong, supra n 55; Chen (1995).
89.
Zheng (1987) 19 N.Y.U. J. Int’l L. & Pol. 269, 270; Zhou (2000).
90.
Gao and Jiang, supra n 13, Legislation; Law of the People’s Republic of China on Joint Ventures Using Chinese and Foreign Investment 《中华人民共和国中外合资经营企业法》1979 (Hereafter EVJ Law); Law of the People’s Republic of China on Chinese-Foreign Contractual Joint Ventures, 《中华人民共和国中外合作经营企业法》 (1988); Law of the People’s Republic of China on Wholly Foreign-Owned Enterprises, 《中华人民共和国外资企业法》 (1986).
91.
Regulations for the Implementation of the Law of the People’s Republic of China on Chinese–Foreign Equity Joint Ventures 《中华人民共和国中外合资经营企业法实施条例》 (1983), (hereafter EJV Regulations); Regulations for the Implementation of the Law of the People’s Republic of China on Foreign-Capital Enterprises 《中华人民共和国外资企业法实施细则》 (1990); Regulations for the Implementation of the Law of the People’s Republic of China on Chinese-foreign Contractual Joint Ventures, 《中华人民共和国中外合作经营企业法实施细则》 (1995); Zheng, supra n 90, 272.
92.
Gao and Jiang, supra n 13, Basic Framework of China’s Foreign Investment Laws and Policies.
93.
Law of the People’s Republic of China on Foreign Enterprises (1986) (hereinafter LFE); Zheng, supra n 90, 279.
94.
LFE Article 6; Law of the People’s Republic of China on Chinese-Foreign Contractual Joint Ventures (1988), Articles 5–8; Law of the People’s Republic of China on Foreign-Capital Enterprises (1986), Articles 6–8; EVJ Regulations, Article 13.
95.
White (2003), 44.
96.
EVJ Regulations, Article 11.
97.
Potter, supra n 31, 166; Provisions of the State Council of the People’s Republic of China for the Encouragement of Foreign Investment (1986), Article 3; Law of the People’s Republic of China on Chinese-Foreign Contractual Joint Ventures (1988), Art 4.
98.
The Law of the People’s Republic of China on Wholly Foreign-Owned Enterprises (1986), Article 3.
99.
Zheng, supra n 90, 301; Provisions of the State Council of the People’s Republic of China for the Encouragement of Foreign Investment (1986), Articles 5–10.
100.
Renwald (2006).
101.
Income Tax Law of the People’s Republic of China for Enterprises with Foreign Investment and Foreign Enterprises (1991), Articles 7–8; Income Tax Law of the People’s Republic of China for Enterprises with Foreign Investment and Foreign Enterprises (2007) Article 73.
102.
Renwald, supra n 101, 468.
103.
Gao and Jiang, supra n 13, Cumbersome and Inconsistent Legislation.
104.
Zhou, supra n 90, 45.
105.
Ibid.
106.
Gao and Jiang, supra n 13, Cumbersome and Inconsistent Legislation.
107.
Chen, supra n 89, 693.
108.
Zhou, supra n 90, 46; Chen, supra n 89, 692.
109.
Chen, supra n 89, 693.
110.
Regulations on Foreign Investment Guidelines (2002); Renwald, supra n 101, 487; Hanemann et al., supra n 7, 16.
111.
White (2003).
112.
Ibid, 108.
113.
Ibid, 108.
114.
White, ‘Enter the Dragon: Foreign Direct Investment Laws and Policies in the P.R. C,’ supra n 96, 41.
115.
Ministry of Commerce of the People’s Republic of China (2017); Hanemann et al., supra n 7, 16.
116.
Zhou, Jiang and Kong, supra n 55, 12.
117.
The Foreign Investment Law of the People’s Republic of China (2019) Article 3.
118.
Koty (2019); Zhou, Jiang and Kong, supra n 55, 12.
119.
Alex Zhang and Tsoi (2019); NPC Observer (2019).
120.
Foreign Investment Law (2019), Article 4.
121.
Ibid, Article 28.
122.
Ibid, Article 29.
123.
Ibid, Article 1.
124.
Zhang, supra n 9, 13.
125.
Lian, supra n 54, 154.
126.
Wong (2019) Dorcas Wong, ‘China’s New Negative List Targets Unified Market Access’, supra n 179.
127.
Zhou, Jiang and Kong, supra n 55, 13.
128.
Liu (2018).
129.
Lian, supra n 54, 144; North American Free Trade Agreement, Can.-Mex.-U.S., Dec. 17, 1992, Chap. 3.
130.
Wong, supra n 127.
131.
Special Management Measures for the Market Entry of Foreign Investment (Negative List) (2020 Version) (2020 Foreign Investment Negative List) 《外商投资准入特别管理措施(负面清单)(2020年版)》; Special Management Measures for the Market Entry of Foreign Investment in Pilot Free Trade Zones (Negative List) (2020 Version) (2020 FTZs Negative List) 《自由贸易试验区外商投资准入特别管理措施(负面清单) (2020年版)》.
132.
Li (2015).
133.
Liu, supra n 129, 153; Conventus Law, ‘Interpretation of the New Implementing Regulations of the Foreign Investment Law of the People’s Republic of China’, (30/January, 2020) online available: http://www.conventuslaw.com/report/foreign-investment-in-china-has-entered-into-the/, accessed on 21/04/2020.
134.
Foreign Investment Law (2019), Art, 14.
135.
Ibid, Article 16.
136.
Ibid, Article 19.
137.
Ibid, Article 30.
138.
Foreign Investment Law (2019), Article 34.
139.
Foreign Investment Law (2019), Article 31; Zhou, Jiang and Kong, supra n 55, 13.
140.
Zhang and Yang (2016).
141.
Lian, supra n 54, 150.
142.
Foreign Investment Law (2019), Art 20.
143.
LFE, Article 9.
144.
Zhou, supra n 90, 84.
145.
Foreign Investment Law (2019), Art 21.
146.
EJV Regulations Article 14(8); the Wholly Foreign Owned Enterprise Law of the People’s Republic of China (1986), Article 18; The Law on Contractual Joint Venture of the People’s Republic (1988), Article 20.
147.
Zhou, supra n 90, 61 and 132; Rules of the People’s Republic of China on Foreign Exchange Control 1997, (Hereinafter Foreign Exchange Regulations), Article 6, 9, 10 and 11.
148.
Zhou, supra n 90, 61 and 132; Foreign Exchange Regulations, Article 9–18.
149.
Regulations for the Implementation of the Law on Sino-foreign Equity Joint Ventures (2003), Article 18, 23, 74, 75.
150.
Foreign Investment Law 2019, Chapter III and Article 22.
151.
USTR (2017); European Commission, ‘Report on the Protection and Enforcement of Intellectual Property Rights in Third Countries’, supra n 38, 6; Tang (2019).
152.
WTO, ‘China-Certain Measures Concerning the Protection of Intellectual Property Rights’ (23 March 2018) DS542.
153.
Tang, supra n 152, 2.
154.
Wu (2016).
155.
Keqiang (2018).
156.
Trademark Law of the People of China (2019 Amendment), Article 63.
157.
Anti-Unfair Competition Law of the People’s Republic of China (2019 Amendment) 《中华人民共和国反不正当竞争法(2019 修正)》, Article 21.
158.
Patent Law of People’s Republic of China (2019), Article 21(3) and 65(2).
159.
Supreme People’s Court, ‘Regulations on Several Issues Regarding IP Tribunal’ 《最高人民法院关于知识产权法庭若干问题的规定》, Fa Shi (2018), 22; Tang, supra n 152, 6.
160.
Lin (2019).
161.
Foreign Investment Law (2019), Article 22.
162.
《中国共产党第十一届中央委员会第三次全体会议(公报)》 (Report of the Third Plenary Session of the 11th Central Committee of the Communist Party of China in 1978) These Five-Year Plans Include the Sixth Five-Year Plan (1981–1985), the Seventh Five-Year Plan (1986–1990), the Eighth Five-Year Plan (1991–1995) and the Ninth Five-Year Plan (1996–2000).
163.
Young and Lan (1996); Chen, supra n 89, 699.
164.
Ball et al. (1993); Young and Lan, supra n 164, 673.
165.
Regulation of the People’s Republic of China on the Administration of Technology Import Contracts 《中国人民共和国技术引进合同管理条例》 (1985), Article 9.
166.
Ibid.
167.
Catalogue for the Guidelines of Foreign Investment 《外商投资产业指导目录》 (2002); Catalogue for the Guidelines of Foreign Investment 《外商投资产业指导目录》 (2007).
168.
Interim Provisions on the Establishment of Foreign-Invested Start-up Enterprises 《关于设立外商投资创业投资企业的暂行规定》 (2001), Art 1; Interim Measures for the Administration of Start-up Enterprises, 《创业投资企业管理暂行办法》, Order No. 39 of National Development and Reform Commission (2006).
169.
Twelfth Five-Year Plan for Economic and Social Development of the People’s Republic of China《中华人民共和国国民经济和社会发展第十二个五年规划纲要》2011–2015, 14 March 2011; Thirteenth Five-Year Plan for Economic and Social Development of the People’s Republic of China《中华人民共和国国民经济和社会发展第十三个五年规划纲要》2016–2020; Notice on the Printing and Release of ‘Made in China 2025 《国务院关于印发 ‘中国制造 2025’ 的通知》 2015.
170.
Catalogue of Industries for Encouraging Foreign Investment 《鼓励外商投资产业目录2019》 (2019).
171.
USTR, ‘Findings of the Investment into China’s Acts, Policies and Practices Related to Technology Transfer Intellectual Property and Innovation under Section 301 of the Trade Act of 1974,’ (Section 301 Report I), (22 March 2018), at 36–43; WTO, ‘China—Certain Measures on the Transfer of Technology, Request for Consultations by the European Union,’ (6 June 2018) WT/DS549/1; European Commission, ‘EU Steps Up WTO Action Against China’s Forced Technology Transfers,’ (20 December 2018).
172.
EJV Regulations, Article 43(3) & (4).
173.
EJV Regulations, Article 24, 27 & 29(3).
174.
USTR, Section 301 Report I, supra n 172, at 36–43.
175.
The Law of the People’s Republic of China on Sino-Foreign Joint Ventures promulgated July 1, 1979, [hereinafter EJV Law], Articles 5; EJV Regulations, Article 41.
176.
EJV regulations Article 7, 11, 26 and 27.
177.
The Regulation on the Administration of Import and Export of Technology《中国人民共和国技术进口管理条例》2001 (‘TIER’) Order No. 331 of the State Council, as amended by Order No. 588 of the State Council on 8 January 2011, and Order No. 709 of the State Council on 2 March 2019, Article 18–21.
178.
Foreign Investment Law (2019), Article 22, 23 and 39.
179.
TIER, 2019 Amendment, Art 3.
180.
Zhou, Jiang and Kong, supra n 55, 15.
181.
Foreign Investment Law (2019), Article 23.
182.
Foreign Investment Law (2019), Article 26.
183.
Renwald, supra n 101, 471.
184.
Ibid.
185.
Ibid.
186.
Foreign Investment Law (2019), Article 18 and 19.
187.
Renwald, supra n 101, 471.
188.
Constitution of People’s Republic of China《中华人民共和国宪法》, Article 1.
189.
Coe (2002); Constitution of People’s Republic of China, Article 67.
190.
Come, ‘Creation and Application of Law in the PRC’, supra n 190, 375.
191.
China International Economic and Trade Arbitration Commission Rules 2014, Article 1.
192.
Tao and Shen, supra n 3, 1162.
193.
Zhou, Jiang and Kong, supra n 55, 16.
194.
Tao and Shen, supra n 3, 1172.
195.
Foreign Investment Law (2019), Article 35.
196.
Zhou, Jiang and Kong, supra n 55, 17.
197.
State Council, Circular of the General Office of the State Council on the Establishment of National Security Review Regime Pertaining to the Mergers and Acquisitions of Domestic Companies by Foreign Investors 《国务院办公厅关于建立外国投资者并购境内企业安全审查制度的通知》 (2011), Article 1(3); ECORYs & TNO, supra n 16, 21–22.
198.
Liu, supra n 129, 300-01.
199.
Regulation (EU) 2019/452, Article 1.
200.
EC (2020).
201.
Regulation (EU) 2019/452, Article 4.
202.
Lovells (2019).
203.
Hanemann et al., supra n 7, 23.
204.
Zhou, Jiang and Kong, supra n 55, 83.
205.
Liu, supra n 129, 298; Li, supra n 133, 309; BDI, supra n 61, 7.
206.
Li, supra n 133, 309.
207.
BDI, supra n 61, 7.
208.
Foreign Investment Law (2019), Article 2.
209.
Lian, supra n 54, 150–151.
210.
ECORYs & TNO, supra n 16, 23–25.
211.
Ibid, 6.
212.
Hanemann et al., supra n 7, 22.

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Chunping Bush
Present address: University of Exeter School of Law, Exeter, England

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Durham Centre for Chinese Law and Policy, Durham University, Durham, England
Ming Du

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Chunping Bush
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University of Greenwich, London, UK
Young-Chan Kim

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Bush, C., Du, M. (2022). Towards a Win–Win EU-China Bilateral Investment Treaty: Challenges and Prospects. In: Kim, YC. (eds) China and the Belt and Road Initiative. Understanding China. Springer, Cham. https://doi.org/10.1007/978-3-030-86122-3_7

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DOI: https://doi.org/10.1007/978-3-030-86122-3_7
Published: 01 January 2022
Publisher Name: Springer, Cham
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Online ISBN: 978-3-030-86122-3
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