The Research on the Chinese and Russian Enterprises’ Rick Controlling By the Legal Prevention of Cross-Border Investment, Under the Background of “the Belt and Road Initiative”
https://doi.org/10.17803/2587-9723.2020.3.167-174
Abstract
Under the context of “The Belt and Road Initiative”, China and Russia have continuously taken measures to expand the scope of cooperation and increase the level of practical cooperation. Chinese enterprises have gradually become the main investment entities in the main economic sectors of the Russian Federation. There are huge differences in the cultural background, national consciousness, social and economic systems, legislative provisions, and judicial operations between China and Russia.
Therefore , under the context of “The Belt and Road Initiative”, China’s investment and cooperation in various fields in Russia face different degrees of legal risks. Under the context of “The Belt and Road
Initiative”, the assessment of the legal risks that China may face in Russia’s investment and cooperation areas will be based on existing legal risk mitigation measures. It is proposed that Chinese and Russian governments, industry associations, and foreign-related enterprises should be the leading companies. The professional legal services provided by the existing Chinese and Russian legal service agencies (including law firms, legal service platforms, etc.) are the substance of the content, and a comprehensive legal risk prevention and control mechanism is established to effectively protect the legitimate rights and interests of investors and company in Russia.
To build and operate a scientific and efficient legal guarantee system under the leadership of the government, in order to provide a relatively stable and predictable legal environment for Russian-invested enterprises and Russian-Chinese company, in order to ensure the legitimate and regular operation and development of Chinese-funded enterprises in Russia. In the process of encouraging domestic enterprises to “go global”, the Chinese government must strengthen the training and guidance of their business philosophy and legal awareness, and to establish and improve the legal system of overseas investment. China and Russia should strengthen the improvement of domestic legislation on the basis of signing multilateral and bilateral investment agreements so as to better implement the contents of the agreements and adapt to the development trend of economic globalization as soon as possible. In addition, the Chinese government should improve the consular protection system for Chinese-funded enterprises and Russian-Chinese company, solve the many difficulties and unpredictable legal risks encountered by Chinese-funded enterprises in Russia through various ways, strengthen the guidance of Chinese-funded enterprises and their employees in the legal operation and guide them to deal with Russia well. The relationship between the local residents respects the religious beliefs and local customs of Russian citizens.
The judicial organs of China and Russia should improve the ability of law enforcement in foreign countries, improve their professional level and foreign language ability, actively play the trial function, and deal with all kinds of disputes arising from the economic and trade cooperation between China and
Russia, so as to provide direct protection for the construction of “The Belt and Road Initiative”. With the further deepening of Sino-Russian cooperation in economic and trade fields, energy development, scientific and technological exchanges and investment fields, more and more complex legal disputes have arisen in various fields. In dealing with these disputes, the judicial organs of China and Russia should pay special attention to the issue of Sino-Russian jurisdiction concerning foreign affairs. We must strictly abide by the applicable laws and the provisions of China’s concluding treaty, exercise jurisdiction in accordance with the law, and provide judicial protection for the advancement of “The Belt and Road Initiative” construction.
All trade associations in the Mainland of China should actively carry out docking activities with local trade associations and Chinese Chambers of Commerce in Russia. At the same time, they should combine the resources of Chinese embassies and consulates in Russia to provide comprehensive information services for Chinese enterprises investing in Russia and establish a complete “The Belt and Road Initiative” database to collect relevant information systematically. Russian law amendment, economic and political environment changes and other information to help Chinese enterprises understand the Russian legal, cultural and political and economic environment.
Strengthen the awareness of legal risk prevention of Chinese-funded enterprises in Russia, establish the concept of modern operation and management, and fulfill their social responsibilities, so as to deal with the legal risks in the fields of environment, taxation and intellectual property that may arise in the operation of enterprises. Chinese-funded enterprises and Russian-Chinese company in the process of signing and fulfilling contracts must pay attention to the agreement of dispute settlement mechanism between the two sides. In case of contract disputes or other conflicts, enterprises themselves can start litigation or arbitration procedures in accordance with the law, which can not only solve disputes quickly, but also effectively protect their legitimate rights and interests. The reason why Chinese enterprises failed to invest in Russia is mostly due to the inadequacy of previous work. Enterprises should make due diligence before investing in projects in Russia, strengthen the investigation and Research on Russian domestic laws and regulations, economic policies and related investment environment, fully understand various laws and regulations related to investment projects, and evaluate the commercial risks and legal risks that the proposed investment projects may face in advance. To formulate risk prevention and response plans, and try to avoid the blind obedience of investment in Russia. In the process of post-investment project operation, the management of enterprises should be strengthened, the corresponding risk assessment mechanism should be established, the compliance review of project operation should be conducted at any time, and the collection of information on the revision of Russian laws and regulations, project operation and market operation should be strengthened in order to improve the ability to cope with possible risks. In order to minimize the legal risk of investment projects.
Give full play to the role of professional legal service institutions such as judicial administrative organs, law firms and legal platforms in China and Russia, so as to provide high-quality and efficient legal services for the construction of “The Belt and Road Initiative”. In the process of building the “one belt and one road” process, the judicial administrative organs of China and Russia should give full play to the role of direction, coordination and coordination, and actively promote the professional legal service workers of law firms and legal service platforms to participate in the research and demonstration of various Russian projects, and provide targeted and practical legal advice and suggestions. Help Chinese enterprises to participate in “The Belt and Road Initiative” in Russia and help enterprises prevent legal risks.
During the advocacy of “The Belt and Road Initiative”, we actively carry out academic exchanges and business cooperation between Chinese and Russian law schools and legal research institutions, and employ targeted training and mutual introduction of legal talents. Bilingual legal talents, establish
a high-end legal talent pool. In short, “The Belt and Road Initiative” provides a good opportunity for Chinese enterprises to “go out”. As the main body of “The Belt and Road Initiative”, Chinese enterprises must establish modern management concepts in the field of investment and cooperation with Russia, do business risk management and legal risk assessment, abide by the local laws and regulations of Russia, pay close attention to the policy changes of all levels of government in related fields, and actively implement enterprises.
The industry should shoulder the social responsibility of Taxation and environmental protection, strive to gain an advantage in the fierce competition and strive to integrate into the Russian local society as soon as possible.
Therefore , under the context of “The Belt and Road Initiative”, China’s investment and cooperation in various fields in Russia face different degrees of legal risks. Under the context of “The Belt and Road
Initiative”, the assessment of the legal risks that China may face in Russia’s investment and cooperation areas will be based on existing legal risk mitigation measures. It is proposed that Chinese and Russian governments, industry associations, and foreign-related enterprises should be the leading companies. The professional legal services provided by the existing Chinese and Russian legal service agencies (including law firms, legal service platforms, etc.) are the substance of the content, and a comprehensive legal risk prevention and control mechanism is established to effectively protect the legitimate rights and interests of investors and company in Russia.
To build and operate a scientific and efficient legal guarantee system under the leadership of the government, in order to provide a relatively stable and predictable legal environment for Russian-invested enterprises and Russian-Chinese company, in order to ensure the legitimate and regular operation and development of Chinese-funded enterprises in Russia. In the process of encouraging domestic enterprises to “go global”, the Chinese government must strengthen the training and guidance of their business philosophy and legal awareness, and to establish and improve the legal system of overseas investment. China and Russia should strengthen the improvement of domestic legislation on the basis of signing multilateral and bilateral investment agreements so as to better implement the contents of the agreements and adapt to the development trend of economic globalization as soon as possible. In addition, the Chinese government should improve the consular protection system for Chinese-funded enterprises and Russian-Chinese company, solve the many difficulties and unpredictable legal risks encountered by Chinese-funded enterprises in Russia through various ways, strengthen the guidance of Chinese-funded enterprises and their employees in the legal operation and guide them to deal with Russia well. The relationship between the local residents respects the religious beliefs and local customs of Russian citizens.
The judicial organs of China and Russia should improve the ability of law enforcement in foreign countries, improve their professional level and foreign language ability, actively play the trial function, and deal with all kinds of disputes arising from the economic and trade cooperation between China and
Russia, so as to provide direct protection for the construction of “The Belt and Road Initiative”. With the further deepening of Sino-Russian cooperation in economic and trade fields, energy development, scientific and technological exchanges and investment fields, more and more complex legal disputes have arisen in various fields. In dealing with these disputes, the judicial organs of China and Russia should pay special attention to the issue of Sino-Russian jurisdiction concerning foreign affairs. We must strictly abide by the applicable laws and the provisions of China’s concluding treaty, exercise jurisdiction in accordance with the law, and provide judicial protection for the advancement of “The Belt and Road Initiative” construction.
All trade associations in the Mainland of China should actively carry out docking activities with local trade associations and Chinese Chambers of Commerce in Russia. At the same time, they should combine the resources of Chinese embassies and consulates in Russia to provide comprehensive information services for Chinese enterprises investing in Russia and establish a complete “The Belt and Road Initiative” database to collect relevant information systematically. Russian law amendment, economic and political environment changes and other information to help Chinese enterprises understand the Russian legal, cultural and political and economic environment.
Strengthen the awareness of legal risk prevention of Chinese-funded enterprises in Russia, establish the concept of modern operation and management, and fulfill their social responsibilities, so as to deal with the legal risks in the fields of environment, taxation and intellectual property that may arise in the operation of enterprises. Chinese-funded enterprises and Russian-Chinese company in the process of signing and fulfilling contracts must pay attention to the agreement of dispute settlement mechanism between the two sides. In case of contract disputes or other conflicts, enterprises themselves can start litigation or arbitration procedures in accordance with the law, which can not only solve disputes quickly, but also effectively protect their legitimate rights and interests. The reason why Chinese enterprises failed to invest in Russia is mostly due to the inadequacy of previous work. Enterprises should make due diligence before investing in projects in Russia, strengthen the investigation and Research on Russian domestic laws and regulations, economic policies and related investment environment, fully understand various laws and regulations related to investment projects, and evaluate the commercial risks and legal risks that the proposed investment projects may face in advance. To formulate risk prevention and response plans, and try to avoid the blind obedience of investment in Russia. In the process of post-investment project operation, the management of enterprises should be strengthened, the corresponding risk assessment mechanism should be established, the compliance review of project operation should be conducted at any time, and the collection of information on the revision of Russian laws and regulations, project operation and market operation should be strengthened in order to improve the ability to cope with possible risks. In order to minimize the legal risk of investment projects.
Give full play to the role of professional legal service institutions such as judicial administrative organs, law firms and legal platforms in China and Russia, so as to provide high-quality and efficient legal services for the construction of “The Belt and Road Initiative”. In the process of building the “one belt and one road” process, the judicial administrative organs of China and Russia should give full play to the role of direction, coordination and coordination, and actively promote the professional legal service workers of law firms and legal service platforms to participate in the research and demonstration of various Russian projects, and provide targeted and practical legal advice and suggestions. Help Chinese enterprises to participate in “The Belt and Road Initiative” in Russia and help enterprises prevent legal risks.
During the advocacy of “The Belt and Road Initiative”, we actively carry out academic exchanges and business cooperation between Chinese and Russian law schools and legal research institutions, and employ targeted training and mutual introduction of legal talents. Bilingual legal talents, establish
a high-end legal talent pool. In short, “The Belt and Road Initiative” provides a good opportunity for Chinese enterprises to “go out”. As the main body of “The Belt and Road Initiative”, Chinese enterprises must establish modern management concepts in the field of investment and cooperation with Russia, do business risk management and legal risk assessment, abide by the local laws and regulations of Russia, pay close attention to the policy changes of all levels of government in related fields, and actively implement enterprises.
The industry should shoulder the social responsibility of Taxation and environmental protection, strive to gain an advantage in the fierce competition and strive to integrate into the Russian local society as soon as possible.
About the Authors
Pan Dungmei
Henan University (PRC)
China
Doctor of Law, Professor, Law School, Institute of Intellectual Property; Head of the China-Russian Center of Comparative Law “Huang-He” Honorary Scientist
China
Doctor of Law, Professor, Law School, Institute of Intellectual Property; Head of the China-Russian Center of Comparative Law “Huang-He” Honorary Scientist
Wang Guanglong
Siberian Federal University
China
Student, Law Institute
China
Student, Law Institute
References
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Review
For citations:
Dungmei P., Guanglong W. The Research on the Chinese and Russian Enterprises’ Rick Controlling By the Legal Prevention of Cross-Border Investment, Under the Background of “the Belt and Road Initiative”. Legal Science in China and Russia. 2020;(3):167-174. (In Chin.) https://doi.org/10.17803/2587-9723.2020.3.167-174
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