China’s OBOR Initiative charts a path for trade and investment cooperation between China and States along the OBOR. Indirect expropriation stands as a crucial issue for the successful implementation of the OBOR initiative. This mainly owes to the large size of investment projects and investment funds, scant regulation of indirect expropriation in the IIAs signed between China and OBOR States, and the diverse political and economic environments of these many States. This article examines the definition and identification standards of indirect expropriation under OBOR IIAs. It will also reveal that indirect expropriation is poorly defined and insufficiently identified in most agreements. It is argued that OBOR IIAs should be revised to regulate indirect expropriation in such three aspects as preambular declaration of host State regulatory freedom, definitional clarity of indirect expropriation, and guidance for its identification. This approach would facilitate a more stable investment environment and contribute to the success of the OBOR initiative.

1. Introduction: Expropriation
2. The OBOR and Regulating Indirect Expropriation
3. Indirect Expropriation under the IIAs between China and OBOR States
    A. Definition of Indirect Expropriation in IIAs between China and the OBOR States
    B. Identification of Indirect Expropriation under the IIAs between China and the OBOR States
4. Refining the Regulation of Indirect Expropriation under the IIAs between China and the OBOR States
5. Conclusion
References

• Yucong Wang(Kyushu University Law School. LL.B. (CUPL), Leiden / Kyushu)