Formation and development of Chinese foreign investment legislation

Abstract. The article provides a historical and legal analysis of the emergence and development of foreign investment legislation in China throughout history. The author uses a systematic method of scientific knowledge, using all kinds of scientific sources in Russian, English and Chinese.

In the era of classical China, the role of foreign investment was almost at a zero level due to economic autarky and the role of the center of the world economy. Developing Western industrial capitalism forcibly opened backward and weakened China to the world economy and made it a semi-colony through open ports, foreign concessions and settlementP. The victory of the bourgeois-democratic Xinhai Revolution did not lead to a change in unequal relations with foreign investors, increasing political tension in the country.

This situation was radically destroyed by the Chinese Communists in the early 1950s, starting mutually beneficial and equal cooperation with the socialist countries, which collapsed due to political reasons in the early 1960s, leading the country to closenesP. The deep economic and political crisis of the PRC in the late 1970P. led to the need for a gradual opening of the country to the world from several SEZs to universal opennesP.

The era of the «policy of reform and opening up» was a tremendous economic and social success, primarily due to the effective policy of attracting and accumulating foreign investment, bringing the Chinese state and law into a state of permanent reform and self-improvement.

The modern legislation of the PRC on foreign investment is moving from the classical Soviet legal system to a modern mixed legal model that combines traditional Confucian-legist legal thought, the Marxist legal system and the modern continental legal family with the implementation of some norms and legal institutions of international and Anglo-Saxon law in order to attract and accumulation of innovative foreign investmentP.

This is happening solely due to the political economic determinism of the international economic depression, international tensions and internal problems of the transition from an industrial to a digital economy with the growth of socio-economic issueP. These lessons will undoubtedly be useful to the domestic manager and legislator.

Keywords: China, PRC, history, international relations, world economy, law, foreign investment

For citation: Zhilkibaev P.N. Formation and development of Chinese legislation on foreign investment. // Modern Oriental Studies. 2022; 4(3). (In Russ.) https://doi.org/