The Development of International Investment Law und er the WTO System

In a sense, international investment law shows the ba la nce between the protection of investors' rights of management and the regulation on foreign investment. Up to now, there’s no overall international legal syste m in this field, and only bilateral invest agreements reflect the rule of intern ational investment. The establishment of WTO in 1995 with its agreements in effe ctive promoted the raise of international investment and thus a set of overall i nternational investment rules is necessary. In this background, international in stitutions such as UNCTAD, WTO, IMF and OECD make active efforts to develop inte rnational investment rules, enact some legal documents which found the basis of international investment law. In recent years, international and domestic legisl ation practices mirror the trend of international investment law under the WTO s ystem.