중국국제경제무역중재위원회(CIETAC)의 운영시스템과 「국제투자분쟁중재규칙(试行)」에 관한 고찰

Abstract

International Investment Disputes refers to international arbitration on Investor-State Dispute (ISD). As a country that invests foreign capital at the same time as it introduces foreign capital, China is in the process of transitioning from a trade giant to a trading power. As part of the Chinese government's "the Belt and Road Initiative" (BRI) policy and in the process of frequent foreign investment by Chinese enterprises, China needs to establish a preventive framework and response system for international investment disputes. Accordingly, in order to resolve the international investment disputes of Chinese companies in the Investment Dispute Settlement Center of CIETAC (or Hong Kong CIETAC Arbitration Center) not in the International Center for Settlement of Investment Disputes (ICSID), China International Economic and Trade Arbitration Commission (CIETAC) has enforced the Regulation for Arbitration of International Investment Disputes in and after December 2017. This is for China to enlarge the scope of the Chinese arbitration system and to lay the foundation for securing the international status not only in the economic sector but also in the legal sector. The Regulation for Arbitration of International Investment Disputes consists of 58 articles, which are composed of the main provisions (preamble) and the supplementary provisions and reflecting the results of research and analysis of arbitration rules of international investment dispute organizations and applying the relevant provisions of the Bilateral Investment Treaty (BIT) concluded by the Chinese government, the following provisions have been enacted to enhance the internationalization and practicality of the arbitration rules: Arbitration procedures for investment disputes, public inquiry, the preparation of the arbitration list, the place of arbitration, jurisdiction of arbitration tribunal, concurrence of arbitration, support for arbitration fees for a third party, regulations on "Mutual Combination of Arbitration and Mediation Procedures" reflecting CIETAC's experience of international arbitration and the characteristics of China, provision on transparency enhancement of arbitration procedures, etc. In addition, the supplementary provisions (1) and (2) prescribe the basis of investment dispute arbitration cost, the method of acceptance, the application and the acceptance of the emergency arbitrator procedure, etc.