Investment Protection: Substantive Standards
摘要
This chapter analyzes the substantive standards of investment protection in China’s fourth-generation investment treaties. It begins by introducing the broader context of ongoing investment treaty reforms (Sect. 3.1). Next, it systematically traces the evolution of China’s approach to substantive investment protection across the first three generations (Sect. 3.2) before focusing on the emerging fourth generation (Sect. 3.3). The analysis of the fourth generation focuses on five key substantive provisions: (1) definitions of investment and investor; (2) national treatment and MFN treatment; (3) fair and equitable treatment and full protection and security; (4) indirect expropriation; and (5) exception clauses.