国际投资仲裁中的第三方资助:发展与规制  

Third-Party Funding in International Investment Arbitration:Development and Regulation

作　　者：徐伟功[1] 黄芃 XU Wei-gong;HUANG Peng(School of Law,Zhongnan University of Economics and Law,Wuhan 430073,China)

机构地区：[1]中南财经政法大学法学院,湖北武汉430073

出　　处：《河北法学》2025年第1期80-99,共20页Hebei Law Science

基　　金：国家社会科学基金重大项目“国际私法视域下中国法域外适用的制度构建研究”(20&ZD202)的阶段性研究成果;中南财经政法大学中央高校基本科研业务费(研究生科研创新平台)项目(202310624)的阶段性成果;中国国家留学基金(CSC)资助。

摘　　要：第三方资助面临的诸多困境与ISDS的系统性缺陷密切相关,探究其兴起的法理依据和发展表现是有效规制的前提。尽管投资仲裁机制在设计时未设想到第三方资助的蓬勃发展,但投资条约的实体待遇条款和仲裁程序规则共同促成了第三方资助在投资仲裁“合法性危机”下的应用发展,使投资者获得竞争优势,并带来了一系列消极影响。国际投资体制正处于变革的关键时期,通过完善仲裁规则和强调缔约国的回归,可以缓解第三方资助所引发的负外部性。为适配国际上第三方资助的规制动态,中国有必要在仲裁立法中对相关问题进行规范性安排,以实现实践和立法的有效对接。The various challenges faced by third-party funding are closely related to the systemic deficiencies of ISDS.Examining the legal basis for its rise and the nature of its development is essential for effective regulation.Although the investment arbitration mechanism was not initially designed to accommodate the rapid growth of third-party funding,the substantive treatment provisions of investment treaties and arbitration procedural rules have collectively enabled its application and expansion amidst the ISDS"legitimacy crisis".This growth has granted investors a competitive advantage and led to a range of negative impacts.The international investment system is at a critical juncture of transformation,and refining arbitration rules and emphasizing the return of contracting states'authority can help mitigate the negative externalities associated with third-party funding.To align with international regulatory trends in third-party funding,it is necessary for China to implement normative provisions in its arbitration legislation on this issue to ensure an effective connection between practice and legislation.

关 键 词：国际投资仲裁 第三方资助 规制路径 仲裁法修订 国际投资协定 

分 类 号：DF974[政治法律—国际法学]