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Project Details
Funding Scheme : General Research Fund
Project Number : 14605915
Project Title(English) : Negotiating a Comprehensive Investment Treaty Regime for China and the EU: A Roadmap of Issues and Drivers  
Project Title(Chinese) : 為中國和歐盟商議一個全面的投資協議體制:一個關於問題和促進因素的路線圖。 
Principal Investigator(English) : Prof Chaisse, Julien 
Principal Investigator(Chinese) :  
Department : School of Law
Institution : The Chinese University of Hong Kong
E-mail Address : julien.chaisse@cityu.edu.hk 
Tel : 3442 0190 
Co - Investigator(s) :
Panel : Humanities, Social Sciences
Subject Area : Social and Behavioural Sciences
Exercise Year : 2015 / 16
Fund Approved : 523,000
Project Status : Completed
Completion Date : 30-6-2018
Project Objectives :
To prepare and disseminate a detailed report on the future course of PRC-EU investment relations, identifying and placing into comparative context the key legal issues raised by the negotiation of a PRC-EU BIT.
To analyze the legal issues raised by the negotiation of a PRC-EU BIT with reference to the investment treaty-making practice of the respective parties and the parties’ growing litigation experience under existing BITs.
To provide a detailed reading of recent developments in investment treaty-making by both the PRC and EU member states as well as a finer appreciation of how the parties’ treaties have evolved and in response to what drivers.
To prepare articles for publication in top Asian and European law journals.
Abstract as per original application
(English/Chinese):
On 20 February 2012, the European Union (EU) and the People's Republic of China (PRC) decided to launch negotiations on a bilateral treaty addressing the promotion and protection of investment between the two parties. This research anticipates the forthcoming negotiations and examines the legal positions from which the parties will begin their negotiations. In particular, this research aims to investigate and compare the PRC’s fast-evolving investment-treaty-making practice with the emerging position of the EU. In so doing, this research will provide stakeholders, such as policy makers, academics and the general public, with a roadmap to the issues raised in the forthcoming negotiations. The negotiation of a bilateral investment treaty (BIT) between the PRC and the EU is likely to be a watershed event in global investment treaty practice. Because of the size and importance of the PRC-EU bilateral investment relationship , and because of the leading role both parties have played in the global spread of BITs , the issues raised and lessons drawn from the PRC-EU case will have ramifications well beyond China and Europe.
2012年2月20日,歐盟和中華人民共和國決定啟動雙邊條約談判來處理雙方之間的投資的促進和保護。本研究著眼于即將到來的談判,同時研究雙方在即將開始的談判中的法律地位。特別是,本研究旨在調查和將歐盟新興的位置與中國飛速發展的投資協議制定的實踐進行比較。這樣做,本研究将為利益相关者,如政策制定者、学者和公众提供一個關於在即將到來的談判中可能遇到的問題的路線圖。中國與歐盟之間的雙邊投資協議的談判很可能會是全球投資協議實踐的一個分水嶺。基於中國和歐盟雙邊投資的規模和重要性,再加上雙方在雙邊投資協議的領域所起的主導作用,從中國和歐盟這個案例中產生的問題和得到的經驗,其影響將遠遠超出中國和歐盟的範圍。
Realisation of objectives: All objectives have been achieved. 1. To prepare and disseminate a detailed report on the future course of PRC-EU investment relations, identifying and placing into comparative context the key legal issues raised by the negotiation of a PRC-EU BIT. 2. To analyze the legal issues raised by the negotiation of a PRC-EU BIT with reference to the investment treaty-making practice of the respective parties and the parties’ growing litigation experience under existing BITs. 3. To provide a detailed reading of recent developments in investment treaty-making by both the PRC and EU member states as well as a finer appreciation of how the parties’ treaties have evolved and in response to what drivers. 4. To prepare articles for publication in top Asian and European law journals. >> 4 articles and 1 book Julien Chaisse ‘State Capitalism on the Ascent-- Stress, Shock, and Adaptation of The International Law on Foreign Investment’ (2018) 27(2) Minnesota Journal of International Law 339-419 Julien Chaisse and Matteo Vaccaro-Incisa ‘The EU investment court: challenges on the path ahead’ (2018) 218 Columbia FDI Perspectives 1-3 Julien Chaisse ‘Demystifying Public Security Exception and Limitations on Capital Movement-- Hard Law, Soft Law and Sovereign Investments in the EU Internal Market’ (2015) 37(2) University of Pennsylvania Journal of International Law 583-646 Julien Chaisse, China-European Union Investment Relationships: Towards a New Leadership in Global Investment Governance? (London: Edward Elgar, 2018) 328 p. 5. To organize and convene public events in the PRC, Hong Kong and the United Kingdom to launch the project report and disseminate findings. >> conference organized in May 2017 http://webapp1.law.cuhk.edu.hk/2017conference/0511/conf/ 6. To establish an online resource of materials relating to PRC-EU investment treaty negotiations, bringing together materials from Chinese and European Union sources. >> https://www.cuhk.edu.hk/law/proj/EU-China-invest/ [16,000 visits since the website creation in January 2017).
Summary of objectives addressed:
Objectives Addressed Percentage achieved
1.To prepare and disseminate a detailed report on the future course of PRC-EU investment relations, identifying and placing into comparative context the key legal issues raised by the negotiation of a PRC-EU BIT.Yes100%
2.To analyze the legal issues raised by the negotiation of a PRC-EU BIT with reference to the investment treaty-making practice of the respective parties and the parties’ growing litigation experience under existing BITs.Yes100%
3.To provide a detailed reading of recent developments in investment treaty-making by both the PRC and EU member states as well as a finer appreciation of how the parties’ treaties have evolved and in response to what drivers.Yes100%
4.To prepare articles for publication in top Asian and European law journals.Yes100%
Research Outcome
Major findings and research outcome: >> 4 articles and 1 book Julien Chaisse ‘State Capitalism on the Ascent-- Stress, Shock, and Adaptation of The International Law on Foreign Investment’ (2018) 27(2) Minnesota Journal of International Law 339-419 Julien Chaisse and Matteo Vaccaro-Incisa ‘The EU investment court: challenges on the path ahead’ (2018) 218 Columbia FDI Perspectives 1-3 Julien Chaisse ‘Demystifying Public Security Exception and Limitations on Capital Movement-- Hard Law, Soft Law and Sovereign Investments in the EU Internal Market’ (2015) 37(2) University of Pennsylvania Journal of International Law 583-646 Julien Chaisse, China-European Union Investment Relationships: Towards a New Leadership in Global Investment Governance? (London: Edward Elgar, 2018) 328 p. 5. To organize and convene public events in the PRC, Hong Kong and the United Kingdom to launch the project report and disseminate findings. >> conference organized in May 2017 http://webapp1.law.cuhk.edu.hk/2017conference/0511/conf/ 6. To establish an online resource of materials relating to PRC-EU investment treaty negotiations, bringing together materials from Chinese and European Union sources. >> https://www.cuhk.edu.hk/law/proj/EU-China-invest/ [16,000 visits since the website creation in January 2017).
Potential for further development of the research
and the proposed course of action:
NA
Layman's Summary of
Completion Report:
This Research Project’s findings also support the idea that although the treaty under negotiation between the EU and China covers only bilateral investments, it can be deemed as the way to success for potential free trade agreements. Furthermore, its relevance has aspects that go beyond the purely economic and legal ones, deriving from the central importance that these two regions have both economically and strategically in their “wider neighbourhood” and worldwide, often in competition with the interests of other world powers. Hence, the CAI is not simply one more of the numerous bi- and multi-lateral agreements forming the “fragmented patchwork” of international investment law, but it is a decisive treaty, and can be considered as a springboard for a closer strategic relationship between China and the EU. This Research Project’s work also suggest that both the degree of liberalization that the CAI will achieve, and its outcome will have a much broader impact than those of an agreement limited to bilateral cooperation. In fact, the destiny of the China-EU BIT will be crucial in taking one of the two following directions: either the two regions will increase their cooperation and enhance mutually beneficial economic relationships, or they will compete against each other for the largest share of the global market, relying on other trade agreements with third States.
Research Output
Peer-reviewed journal publication(s)
arising directly from this research project :
(* denotes the corresponding author)
Year of
Publication
Author(s) Title and Journal/Book Accessible from Institution Repository
2016 Chaisse, Julien  Demystifying Public Security Exception and Limitations on Capital Movement: Hard Law, Soft Law and Sovereign Investments in the EU Internal Market, Volume 37, Issue 2, University of Pennsylvania Journal of International Law, pp. 583-646  No 
2018 Julien Chaisse  ‘State Capitalism on the Ascent-- Stress, Shock, and Adaptation of The International Law on Foreign Investment’ (2018) 27(2) Minnesota Journal of International Law 339-419  No 
2018 Julien Chaisse*  Julien Chaisse and Matteo Vaccaro-Incisa ‘The EU investment court: challenges on the path ahead’ (2018) 218 Columbia FDI Perspectives 1-3  No 
2018 Julien Chaisse  Julien Chaisse, China-European Union Investment Relationships: Towards a New Leadership in Global Investment Governance? (London: Edward Elgar, 2018) 328 p.  No 
2020 Julien Chaisse  Julien Chaisse and Flavia Marisi ‘Is Intellectual Property “Investment”? Formation, Evolution, and Transformation of the Intellectual Property Rights - Foreign Direct Investment Normative Relationship’ (2019) 66(6) Ohio State Journal on Dispute Resolution  No 
Recognized international conference(s)
in which paper(s) related to this research
project was/were delivered :
Month/Year/City Title Conference Name
London The Changing Investment Relationships of the EU with China  Annual Conference, Queen Mary University, School of Law, London 
Brussels EU Regionalism and TDIs – Recent Trends in FTA Treaty-making  The Future of Trade Defence Instruments: Global Policy Trends and Legal Challenges, College of Europe 
Singapore Negotiating a Comprehensive Investment Treaty Regime for China and the EU: A Roadmap of Issues and Drivers  presented at the workshop ‘Regulation & Investment Disputes: Asian Perspectives Scoping’ Research Workshop, Singapore Management University 
Other impact
(e.g. award of patents or prizes,
collaboration with other research institutions,
technology transfer, etc.):

  SCREEN ID: SCRRM00542