国际投资协定对数据规制措施的可适用性:以适格投资为中心

Applicability of International Investment Agreements to Data Regulatory Measures:An Analysis Centered on Qualified Investment

适格投资是界定国际投资协定适用范围和仲裁庭属事管辖权的重要依据。东道国数据规制措施是否受国际投资协定约束,取决于该措施是否与适格投资有关,共涉及五种场景。其中需要重点关注的问题有两个:一是数据是否构成适格投资。目前,数据在“投资”定义列举项中的归属,以及是否符合适格投资空间要件、合法性要件和程序性要件,尚存在不确定性。二是东道国境外数据处理活动中的资产是否满足适格投资的空间要件。作为数字经济大国,我国应对数字经济的持续发展和繁荣给予保护和支持,同时也须维护必要范围内对数字经济的规制权,避免我国承担过度义务。此外,我国应坚守国际投资协定与国际贸易协定适用于数据规制措施的边界,以防止我国在两种类型协定项下义务的错配。基于此,我国应从五个方面对投资协定适格投资条款进行完善,并在未来可能面临的相关国际投资仲裁案件中积极提出管辖权异议。

In the era of economic globalization intertwined with digitalization,the data regulatory measures taken by a country not only are closely related to the digital economy industry but also more or less affect other industries.They affect not only the data processing of enterprises,but also the possession and disposition of other related assets in data processing activities,and not only domestic data processing activities,but also related overseas data processing activities.Whether a country’s data regulatory measures are subject to an international investment agreement to which the country is a party depends on whether the measures relate to qualified investment under the agreement.Therefore,it is important to accurately determine whether the data processing activities affected by data regulatory measures contain qualified investment.This involves the determination of whether the data and other related assets in the data processing activities constitute a qualified investment.In addition,special attention needs to be paid to the question of whether the data processing activities affected by a data regulatory measure come from international investment or service trade,which determines whether the measure is subject to international investment agreements or international trade agreements.Under the existing framework of international investment agreements,there are still some uncertainties or irrationalities about the solutions to the above problems,which highlight the deficiency in the identification function of the clauses defining qualified investment in the agreements.As a country of large-scale digital economy,China should provide protection and support for the sustainable development and prosperity of the digital economy while at the same time upholding its right to regulate the digital economy within the necessary scope,and avoiding undertaking excessive obligations.Besides,China should stick to the application boundary between international investment agreements and international trade agreements as regards data regulatory measures so as to prevent the mismatch of obligations under the two types of agreements.As regards the improvement of the clauses defining qualified investment in the international investment agreements concluded by China,the following measures should be considered:(1)to unify the Chinese translations of“asset”and“property”in the definition of“investment”in the English version of the agreements;(2)to add“enterprise”and“property rights regarding data”to the enumeration part of the definition of“investment”;(3)to exclude“market share”,“market access”,“expected returns”and“profit opportunities”themselves from the categories of investment;and(4)to further clarify the spatial,legality and procedural requirements of qualified investment.Besides,China should actively raise jurisdictional objections in relevant ISDS arbitration cases that it may be confronted with in the future.