Agreement between the Government of the People’s Republic of China and the Government of Australia on the Reciprocal Encouragement and Protection of Investments
The government of the People’s Republic of China and the government of Australia (hereinafter referred to as the Contracting Parties)
Recognizing the importance of promoting the flow of capital for economic activity and development and aware of its role in expanding economic relations and technical cooperation between them, particularly with respect to investment by nationals of one Contracting Party in the territory of the other Contracting Party;
Considering that investment relations should be promoted and economic cooperation strengthened in accordance with the internationally accepted principles of mutual respect for sovereignty, equality, mutual benefit, non-discrimination and mutual confidence;
Acknowledging that investments of nationals of one Contracting Party in the territory of the other Contracting Party would be made within the framework of laws of that other Contracting Party; and Recognizing that pursuit of these objectives would be facilitated by a clear statement of principles relating to the protection of investments and associated activities, combined with rules designed to render more effective the application for these principles within the territories of the Contracting Parties,
Have agreed as follows:
Article 2 Encouragement and Admission of Investments
(p. 466) Article 3 Treatment of Investments
A Contracting Party shall at all times:
Article 4 Entry and Sojourn of Personnel
Article 5 Settlement of Disputes between Nationals of the Contracting parties
A Contracting Party shall in accordance with its law:
Article 6 Transparency of Laws
Each Contracting Party shall, with a view to promoting the understanding of its laws and policies that pertain to or affect investments in its territory of nationals of the other Contracting Party:
(p. 467) Article 7 Limitations on Immunity
Any question arising in relation to an investment or activity associated with an investment of a national of either Contracting Party concerning immunity from the jurisdiction of the Courts in any proceeding, the procedure for service of initiating process or immunity from execution shall be resolved in accordance with the law of the Contracting Party which has admitted the investment.
Article 8 Expropriation and Nationalisation
Article 9 War or Armed Conflict
Nationals of a Contracting Party, whose investments suffer losses in the territory of the other Contracting Party owing to war or other armed conflict, insurrection, revolt, or other similar events, shall be accorded treatment by the other Contracting Party no less favourable than that accorded to nationals of any third country, should it adopt any measures relating to such losses.
Article 11 Undertakings Given to Investors
A contracting party shall, subject to its law, adhere to any written undertakings given by a competent authority to a national of the other Contracting Party with regard to an investment in accordance with its law and the provisions of this Agreement.
Article 12 Settlement of Disputes between one Contracting Party and a National of the other Contracting Party Relating to Investments
Article 13 Settlement of Disputes between Contracting Parties
(p. 469) Article 14 Entry into Force, Duration and Termination
IN WITNESS WHEREOF the undersigned, being duly authorized thereto by their respective governments, have signed this Agreement.
DONE in duplicate at Beijing on the Eleventh day of July, 1988 in the Chinese and English languages, both texts being equally authentic.
For the government of the People’s Republic of China
For the government of Australia