Suggestions on the Development of China’s Overseas Investment Insurance Legal System Under the Belt and Road Initiative

Abstract

The proposal of the Belt and Road Initiative is influential on China’s economic development and industrial transformation. It is not only clear evidence of China’s comprehensively deepening reforms and all-round opening-up in the new era, but also a reform drive to build a community of human destiny and strengthen international cooperation and global governance. However, in the implementation of the Belt and Road Initiative, China’s overseas investment insurance is facing a new situation, and the inadequacy of the legal system, leading to serious problems in terms of the insurance business model, the insurance capital model, the insurance coverage and the recovery mechanism of overseas investment insurance. Therefore, we should review and adjust China’s overseas investment insurance legal system, strengthen the internal and external cooperation to address new risks, reconstruct the overseas investment insurance legal system and business model, introduce diversified capital, expand the definition of investment and investor, improve the subrogation clause in bilateral agreements, and make new suggestions on the development of China’s overseas investment insurance.