“拒絕授惠”條款在國際投資仲裁中的適用及發展

Denial of Benefits Clauses in International Investment Arbitration: Application and Developments

國際投資條約中“拒絕授惠”條款通常以抵禦跨國投資者的“擇約適用”行為為目的。基於《能源憲章條約》和美國為締約一方的投資條約建立的多個仲裁庭對案中涉及的“拒絕授惠”條款的適用及效果作出了不同的解釋。而近年來該條款的締約實踐顯示，締約國更願以明確、具體以及靈活多變的條約文本增加“拒絕授惠”適用的確定性及東道國管理外資的主動性。中國締結的一些投資條約也已經納入了“拒絕授惠”條款，未來締結的投資條約中可以繼續納入該條款，並以明確的條約文本與“投資者”的定義有機結合，以便於中國政府積極管理外資並有效選擇投資條約適用範圍。

The denial of benefits clauses in international investment treaties are designed to counteract treaty shopping by investors. A review of recent investment cases reveals that the Energy Charter Treaty-based investment tribunals and the tribunals based on the investment treaties binding on the US draw different conclusions on the denial of benefits clauses' applicability and effects. Recent treaties shows that drafters would like to employ more certain and detailed treaty texts to reduce its ambiguity and increase the initiative of host countries. Some investment treaties signed by the Chinese Government in recent years have adopted this clause. This article suggests that China government should use more accurate text for the denial of benefit clause combined with proper definition of 'investor' to facilitate regulation of foreign investment and determine its applicability.