| 中华人民共和国政府和印度共和国政府关于促进和保护投资的协定 |
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| 2006-11-27 11:24 文章来源：商务部条法司 | | 文章类型：原创 内容分类：其它 |
中华人民共和国政府和印度共和国政府关于促进和保护投资的协定
中华人民共和国政府和印度共和国政府（以下称缔约双方），
愿为鼓励缔约一方的投资者在缔约另一方领土内投资创造有利条件，
认识到根据国际协定鼓励和相互保护投资将有助于激励经营的积极性和增进两国繁荣，
达成协议如下：
第 一 条
定义
本协定内：
一、“投资者”一词，系指缔约一方的任何国民或公司；
（一）“国民”系指根据缔约任何一方生效的法律具有该缔约方国民身份的人；
（二）“公司”系指根据缔约任何一方生效的法律成立、组建或设立的公司、合伙和社团。
二、“投资”一词系指依照投资者在其境内作出投资的缔约一方的国内法设立或取得的各种财产，也包括此等投资形式上的变化，包括但不限于：
（一）动产、不动产及抵押、质押、留置等其他财产权利；
（二）公司的股份、债券、股票或对公司的其他类似形式的参股；
（三）金钱请求权或任何其他具有财务价值的履行请求权；
（四）根据各缔约方相关法律取得的知识产权；
（五）依法律或合同授予的商业特许权，包括勘探、提炼石油和其他矿物质的特许权。
三、“收益”一词系指利润、股息、利息、资本利得、提成费、费用等由投资所产生的款项。
四、“领土”系指缔约双方的领土，包括领水、其上的空域和其他海域，包括该缔约方根据其生效的法律和包括1982年《联合国海洋法公约》在内的国际法行使主权、主权权利或专属管辖权的专属经济区和大陆架。
第 二 条
本协定的范围
本协定适用于缔约任何一方投资者在缔约另一方境内作出的，并按该缔约另一方法律法规接受的所有投资，无论该投资是在本协定生效前或生效后作出的。
第 三 条
促进和保护投资
一、缔约各方应鼓励缔约另一方的投资者在其境内投资并为之创造有利条件，并应依照其法律和政策接纳此等投资。
二、缔约一方投资者的投资和收益在缔约另一方境内应始终享受公平和公正的待遇。
第 四 条
国民待遇和最惠国待遇
一、缔约各方给予缔约另一方投资者投资的待遇，不应低于其给予其本国投资者和任何第三国投资者的待遇。
二、此外，缔约各方应给予缔约另一方投资者，在包括其投资的收益方面，不低于其给予任何第三国投资者的待遇。
三、本条第一、二款的规定不应解释为缔约一方有义务将由下列原因产生的待遇、优惠或特权给予缔约另一方投资者：
（一）任何现存的或将来的关税同盟或其他该缔约方已成为或可能成为其一方的类似国际协定；
（二）任何全部或主要与税收有关的事宜。此等税收事宜应受1994年7月18日中华人民共和国和印度共和国间的避免双重征税协定管辖；
第 五 条
征收
一、缔约任何一方的投资者在缔约另一方境内的投资不得被国有化、征收或采取效用等同于国有化或征收的措施（以下称征收） ，除非是为了公共目的、依照法律在非歧视性的基础上采取并给予公平和公正的补偿。此等补偿，应等于采取征收前或征收为公众所知时中较早一刻被征收投资的真实价值，并应包括支付前按公平和公正的利率计算的利息，补偿的支付不应不合理地迟延，并应可有效实现和自由转移。
二、受影响的投资者根据进行征收的缔约方的法律应有权要求由该方的司法或其他独立机构根据本条规定的原则审查其案件以及对其投资的估值。进行征收的缔约方应尽可能确保尽快进行此等审查。
三、如果缔约一方征收根据其生效的法律在其领土的任何部分上设立或组建的缔约另一方投资者拥有股份的公司的财产，该缔约方应确保本条第一款的规定在确保拥有此等公司股份的缔约另一方投资者就其投资得到公平和公正补偿所必需的范围内适用。
第 六 条
损失赔偿
缔约一方的投资者在缔约另一方领土内的投资，如果由于发生在缔约另一方领土内的战争、其他武装冲突、全国紧急状态、暴乱而遭受损失，该缔约另一方给予其恢复原状、赔偿、补偿或采取其他措施的待遇，不应低于它给予本国或任何第三国投资者的待遇。为此作出的支付应可自由转移。
第 七 条
投资及收益的汇回
一、缔约任何一方的投资者在履行完东道国缔约方法律所要求的义务后，可以无不合理延迟地转移其资本和收益，包括：
（一）用于维持或增加投资的资本和新增资本金；
（二）包括股息和利息在内的净运营利润；
（三）与投资有关的贷款及其利息的偿还款项；
（四）支付与投资有关的提成费和服务费的款项；
（五）出售股份所得；
（六）投资者出售或部分出售投资以及清算投资所得；
（七）缔约一方国民在缔约另一方的领土内从事与投资有关工作的收入；
（八）与项目合同有关的款项；
二、本条第一款的规定不得影响依据本协定第六条获得的赔偿的转移。
三、除非当事方另有约定，根据本条第一款进行的货币转移应允许兑换为原投资使用的货币或其他任何可自由兑换的货币。此等转移应按照转移当日通行的市场汇率进行。
第 八 条
代位
如果缔约一方或其指定的机构担保就本协定所涵盖的投资所遭受的非商业风险给予其投资者赔偿，并就投资者的索赔给予此等投资者赔偿，缔约另一方应承认缔约前者一方或其指定的机构有权代位行使其权利并主张此等投资者的索赔。被代位的权利或请求不应超过此等投资者原有的权利和索赔。
第 九 条
投资者和缔约一方间争议解决
一、 缔约一方投资者和缔约另一方与本协定下前者的投资有关的任何争议，应尽可能由争议双方当事人通过协商友好解决。
二、未能在六个月内经协商友好解决的争议，如果争议双方当事人同意，可将争议提交：
（一）根据接纳该投资的缔约方的法律，提交该缔约方有管辖权的司法、仲裁或行政机构解决，如果可以提交这样的机构解决；或
（二）根据《联合国国际贸易法委员会调解规则》进行国际调解。
三、如果争议双方当事人未能就本条第二款规定的争议解决程序达成一致或争议虽被提交调解但调解程序被终止而未能达成解决协议的，可将争议提交仲裁。仲裁程序如下：
（一）如果该投资者所属的缔约方和缔约另一方均为1965年《解决国家和他国国民之间投资争议公约》缔约方，并且投资者书面同意将该争议提交“解决投资争议国际中心”，此争议应被提交给中心；或
（二）如果争议双方当事人同意，依照“解决投资争端国际中心”附设机构进行调解、仲裁和查明事实的程序；或
（三）由争议任何一方根据1976年《联合国国际贸易法委员会仲裁规则》提交临时仲裁庭，但受限于对该规则的下列修改：
1、该规则第七条下的任命机构应为非缔约任何一方国民的国际法院之院长、副院长或其他最资深法官。第三名仲裁员不应为缔约任何一方国民。
2、争议双方当事人应在两个月内任命其仲裁员。
3、仲裁裁决应根据本协定规定做出。
4、仲裁庭应陈述其裁决的基础并根据争议任何一方要求说明裁决的理由。
（四）涉及争议的缔约方可要求有关投资者在根据第九条第二款第二项将争议提交国际调解或根据第九条第三款提交仲裁前先行用尽国内复议程序。
第 十 条
缔约方间争议解决
一、缔约双方对本协定的解释或适用所产生的任何争议，应尽可能通过协商解决。
二、如争议自产生之日起六个月内未能通过协商解决，应缔约任何一方的要求争议应被提交仲裁庭。
三、此等仲裁庭应按下述方式逐案设立。自收到书面仲裁要求之日起两个月内，缔约双方应各自任命一名仲裁员。该两名仲裁员在得到缔约双方允准的前提下应选择一名第三国的国民担任首席仲裁员。首席仲裁员应在仲裁庭其他两名成员任命之日起两个月内任命。
四、如果在本条第三款规定的期限内未能作出必要的任命，缔约双方间又无其他约定，缔约任何一方可以提请国际法院院长作出必要的任命。如果国际法院院长是缔约任何一方的国民，或由于其他原因不能履行此项任命，应提请国际法院副院长作出必要的任命。如果国际法院副院长是缔约任何一方的国民，或由于其他原因不能履行此项任命，应提请国际法院中非缔约任何一方国民的最资深法官作出必要的任命。
五、仲裁庭应以多数票作出裁决。此等裁决对缔约双方均有拘束力。缔约双方应承担其任命的仲裁员及其出席仲裁程序的费用。首席仲裁员和其他费用应由缔约双方平均承担。但仲裁庭可以在其裁决中指定缔约双方中的一方承担更高比例的费用，此裁决对缔约双方均有拘束力。仲裁庭应决定其自身的程序。
第 十一 条
人员出入境
缔约一方应根据其可适用的与非本国公民出入境有关的法律法规，允许缔约另一方的自然人和缔约另一方公司雇佣的人员为从事与投资有关的活动而进入其境内并在其境内停留。
第 十二 条
适用法律
除非在本协定中另有规定，所有投资应受此等投资所在的缔约方境内生效的法律管辖。
第 十三 条
其他规则的适用
如果缔约任何一方的法律规定或本协定之外的缔约双方之间现存或其后设立的国际义务，包含令缔约另一方投资者的投资享受比本协定规定的更优惠待遇的不论是一般或具体的规则，此等规则在其较之本协定更优惠的范围内优先于本协定适用。
第 十四 条
例外
本协定不妨碍东道国缔约方根据其正常、合理和非歧视地适用的法律，采取保护其基本安全利益的措施或极端紧急状况下的措施。
第 十五 条
生效
本协定自缔约双方都已以书面形式相互通知对方已完成国内法律程序之日起下一个月的第一天开始生效。
第 十六 条
有效期和终止
一、本协定有效期为十年，期满后除非缔约任何一方书面通知缔约另一方终止本协定，该有效期自动延长十年，并依此顺延。
二、即使根据本条第一款终止了本协定，对本协定终止之日前所作出或取得的投资，本协定应自本协定终止之日起继续适用十五年。
由双方政府正式授权其各自代表签署本协定，以昭信守。
本协定于2006年11月21日在新德里签订，一式两份，每份都用中文、印地语和英文写成，如遇解释上的分歧，以英文本作准。
中华人民共和国政府 印度共和国政府
代 表 代 表
商务部部长 商业和工业部部长
薄熙来 卡迈勒•纳特
《中华人民共和国政府和印度共和国政府关于促进和保护投资的协定》的议定书
值此《中华人民共和国政府和印度共和国政府关于促进和保护投资的协定》签署之际，双方正式授权的代表议定如下各项，作为该协定的组成部分。
一、关于第四条第一款和第二款
（一）在中华人民共和国方面，第四条第一款和第二款不适用于：
1、任何现存的在其境内维持的不符措施；
2、第一项所指的任何不符措施的延续；
3、对第一项所指的任何不符措施的修改，只要这种修改不增加该措施在修改前存在的不符此等义务的程度。
不符措施不应超过现有水平并且将努力逐渐消除这些不符措施。
（二）在此方面，中华人民共和国应给予印度共和国投资者不低于其给予任何第三国投资者的待遇。
二、关于第七条
（一）在中华人民共和国方面：
1、第七条第一款第三项适用的前提是贷款协议已在相关外汇管理机关登记；
2、第七条第一款第六项适用的前提是转移符合与外汇管制有关的现行中国法律法规所规定的相关手续；
3、如果第一、二款提及的手续根据中国法律的相关规定不再被要求，第七条可以不受限制地适用。
（二）在此方面，中华人民共和国应当给予印度共和国投资者不低于其给予任何第三国投资者的待遇。
（三）该手续不得被用于规避本协定中缔约方的承诺和义务。
三、关于第五条
关于对第五条中征收的解释，缔约双方确认以下共识：
（一）除了通过正式移转所有权或直接没收的形式进行的直接征收或国有化外，征收措施包括一方为达到使投资者的投资陷于实质上无法产生收益或不能产生回报之境地，但不涉及正式移转所有权或直接没收，而有意采取的一项或一系列措施。
（二）在某一特定情形下确定一方的一项或一系列措施是否构成上述第一款所指的措施，需进行以事实为依据、各案进行的审查，并考虑包括以下在内的各因素:
1、该措施或该一系列措施的经济影响，但仅仅有一方的一项或一系列措施对于投资的经济价值有负面影响这一事实不足以推断已经发生了征收或国有化；
2、该措施在范围或适用上歧视某一方或某一投资者或某一企业的程度；
3、该措施或该一系列措施违背明显、合理、以投资为依据的预期之程度；
4、该措施或该一系列措施的性质和目的，是否是为了善意的公共利益目标而采取，以及在该等措施和征收目的之间是否存在合理的联系。
（三）除非在个别情况下，缔约一方采取的旨在保护公共利益的非歧视的管制措施，包括根据司法机关所作的具有普遍适用效力的裁决而采取的措施，不构成间接征收或国有化。
中华人民共和国政府 印度共和国政府
代 表 代 表
商务部部长 商业和工业部部长
薄熙来 卡迈勒•纳特
英文本
English Version
AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND
THE GOVERNMENT OF THE PEOPLE’S REPUBLIC OF CHINA
FOR THE PROMOTION AND PROTECTIONOF INVESTMENTS
The Government of the Republic of India and the Government of the People’s Republic of China (hereinafter referred to as the "Contracting Parties");
Desiring to create conditions favourable for fostering greater investment by investors of one Contracting Party in the territory of the other Contracting Party;
Recognising that the encouragement and reciprocal protection under international agreement of such investments will be conducive to the stimulation of business initiatives and will increase prosperity in both States;
Have agreed as follows:
ARTICLE 1
Definitions
For the purposes of this Agreement:
(a) “investor” means any national or company of a Contracting Party;
i) “ nationals” mean persons of either Contracting Party deriving their status as nationals of that Contracting Party from its laws in force.
ii) “Companies” mean corporations, firms and associations incorporated or constituted or established in the territory of either Contracting Party under its laws in force.
(b) “investment” means every kind of asset established or acquired, including changes in the form of such investment, in accordance with the national laws of the Contracting Party in whose territory the investment is made and in particular, though not exclusively, includes:
(i) movable and immovable property as well as other rights such as mortgages, liens or pledges;
(ii) shares in and stock and debentures of a company and any other similar forms of participation in a company;
(iii) rights to money or to any performance under contract having a financial value;
(iv) intellectual property rights, in accordance with the relevant laws of the respective Contracting Party;
(v) business concessions conferred by law or under contract, including concessions to search for and extract oil and other minerals;
(c) “returns” mean the monetary amounts yielded by an investment such as profit, interest, capital gains, dividends, royalties and fees;
(d) "territory" means the territory of each Contracting Party including its territorial waters and the airspace above it and other maritime zones including the Exclusive Economic Zone and continental shelf over which the Contracting Party has sovereignty, sovereign rights or exclusive jurisdiction in accordance with its laws in force and International Law including the l982 United Nations Convention on the Law of the Sea.
ARTICLE 2
Scope of the Agreement
This Agreement shall apply to all investments made by investors of either Contracting Party in the territory of the other Contracting Party, accepted as such in accordance with its laws and regulations, whether made before or after the coming into force of this Agreement.
ARTICLE 3
Promotion and Protection of Investment
(1) Each Contracting Party shall encourage and create favourable conditions for investors of the other Contracting Party to make investments in its territory, and admit such investments in accordance with its laws and policy.
(2) Investments and returns of investors of each Contracting Party shall at all times be accorded fair and equitable treatment in the territory of the other Contracting Party.
ARTICLE 4
National Treatment and Most-Favoured-Nation Treatment
(l) Each Contracting Party shall accord to investments of investors of the other Contracting Party, treatment which shall not be less favourable than that accorded either to investments of its own investors or investments of investors of any third State.
(2) In addition, each Contracting Party shall accord to investors of the other Contracting Party, including in respect of returns on their investments, treatment which shall not be less favourable than that accorded to investors of any third State.
(3) The provisions of paragraph (1) and (2) above shall not be construed so as to oblige one Contracting Party to extend to the investors of the other Contracting Party the benefit of any treatment, preference or privilege resulting from:
(a) any existing or future customs unions, or similar international agreement to which it is or may became a party, or
(b) any matter pertaining wholly or mainly to taxation. Such taxation matters shall be governed by the Agreement between the Republic of India and the People’s Republic of China for Avoidance of Double taxation of 18-7-1994.
ARTICLE 5*
Expropriation
(1) Investments of investors of either Contracting Party shall not be nationalised, expropriated or subjected to measures having effect equivalent to nationalisation or expropriation (hereinafter referred to as " expropriation") in the territory of the other Contracting Party except for a public purpose in accordance with law on a non-discriminatory basis and against fair and equitable compensation. Such compensation shall amount to the genuine value of the investment expropriated immediately before the expropriation or before the impending expropriation became public knowledge, whichever is the earlier, shall include interest at a fair and equitable rate until the date of payment, shall be made without unreasonable delay, be effectively realizable and be freely transferable.
(2) The investor affected shall have right, under the law of the Contracting Party making the expropriation, to review, by a judicial or other independent authority of that Party, of his or its case and of the valuation of his or its investment in accordance with the principles set out in this Article. The Contracting Party making the expropriation shall make every endeavour to ensure that such review is carried out promptly.
(3) Where a Contracting Party expropriates the assets of a company which is incorporated or constituted under the law in force in any part of its own territory, and in which investors of the other Contracting Party own shares, it shall ensure that the provisions of paragraph (1) of this Article are applied to the extent necessary to ensure fair and equitable compensation in respect of their investment to such investors of the other Contracting Party who are owners of those shares.
ARTICLE 6
Compensation for Losses
Investors of one Contracting Party whose investments in the territory of the other Contracting Party suffer losses owing to war or other armed conflict, a state of national emergency or civil disturbances in the territory of the latter Contracting Party shall be accorded by the latter Contracting Party treatment, as regards restitution, indemnification, compensation or other settlement, no less favourable than that which the latter Contracting Party accords to its own investors or to investors of any third State. Resulting payments shall be freely transferable.
ARTICLE 7
Repatriation of Investment and Returns
(l) Investors of either Contracting Party shall, after performing their obligations as required by the laws of the host Contracting Party, be able to transfer their capital and returns without undue delay, including:
(a) Capital and additional capital amounts used to maintain and increase investments;
(b) Net operating profits including dividends and interest;
(c) Repayments of any loan including interest thereon, relating to the investment;
(d) Payment of royalties and services fees relating to the investment;
(e) Proceeds from sales of their shares;
(f) Proceeds received by investors in case of sale or partial sale or liquidation;
(g) The earnings of nationals of one Contracting Party who work in connection with investment in the territory of the other Contracting Party;
(h) Payments in connection with projects on contracts.
(2) Nothing in paragraph (1) of this Article shall affect the transfer of any compensation under Article 6 of this Agreement.
(3) Unless otherwise agreed to between the parties, currency transfer under paragraph (1) of this Article shall be permitted in the currency of the original investment or any other convertible currency. Such transfer shall be made at the prevailing market rate of exchange on the date of transfer.
ARTICLE 8
Subrogation
Where one Contracting Party or its designated agency has guaranteed any indemnity against non-commercial risks in respect of an investment, covered under this Agreement, by any of its investors in the territory of the other Contracting Party and has made payment to such investors in respect of their claims, the other Contracting Party shall recognise that the first Contracting Party or its designated agency is entitled by virtue of subrogation to exercise the rights and assert the claims of those investors. The subrogated rights or claims shall not exceed the original rights or claims of such investors.
ARTICLE 9
Settlement of Disputes Between an Investor and a
Contracting Party
1) Any dispute between an investor of one Contracting Party and the other Contracting Party in relation to an investment of the former under this Agreement shall, as far as possible, be settled amicably through negotiations between the parties to the dispute.
(2) Any such dispute which has not been amicably settled within a period of six months may, if both parties to the dispute agree, be submitted:
(a) for resolution, in accordance with the law of the Contracting Party which has admitted the investment to that Contracting Party’s competent judicial, arbitral or administrative bodies if available; or
(b) to international conciliation under the Conciliation Rules of the United Nations Commission on International Trade Law.
(3) Should the Parties fail to agree on a dispute settlement procedure provided under paragraph (2) of this Article or where a dispute is referred to conciliation but conciliation proceedings are terminated other than by signing of a settlement agreement, the dispute may be referred to Arbitration. The Arbitration procedure shall be as follows:
(a) If the Contracting Party of the investor and the other Contracting Party are both parties to the Convention on the Settlement of Investment Disputes between States and Nationals of other States, 1965 and the investor consents in writing to submit the dispute to the International Centre for the Settlement of Investment Disputes, such a dispute shall be referred to the Centre; or
(b) If both parties to the dispute so agree, under the Additional Facility for the Administration of Conciliation, Arbitration and Fact-Finding Proceedings of ICSID; or
(c) to an ad hoc arbitral tribunal, by either party to the dispute in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law, 1976, subject to the following modifications:
(i) The appointing authority under Article 7 of the Rules shall be the President, the Vice-President or the next senior Judge of the International Court of Justice, who is not a national of either Contracting Party. The third arbitrator shall not be a national of either Contracting party.
(ii) The parties shall appoint their respective arbitrators within two months.
(iii) The arbitral award shall be made in accordance with the provisions of this Agreement.
(iv) The arbitral tribunal shall state the basis of its decision and give reasons upon the request of either party.
(4) The Contracting Party involved in the dispute may require the investor concerned to exhaust the domestic review procedure before the dispute is submitted for international conciliation under Article 9(2)(b) or arbitration under Article 9(3).
ARTICLE l0
Disputes between the Contracting Parties
(1) Disputes between the Contracting Parties concerning the interpretation or application of this Agreement should, as far as possible, be settled through negotiations.
(2) If a dispute between the Contracting Parties cannot thus be settled within six months from the time the dispute arose, it shall upon the request of either Contracting Party be submitted to an arbitral tribunal.
(3) Such an arbitral tribunal shall be constituted for each individual case in the following way. Within two months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the tribunal. Those two members shall then select, subject to the approval of the two Contracting Parties, a national of a third State to act as Chairman of the tribunal. The Chairman shall be appointed within two months from the date of appointment of the other two members.
(4) If within the periods specified in paragraph (3) of this Article the necessary appointments have not been made, either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make the necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice President shall be invited to make the necessary appointments. If the Vice President is a national of either Contracting Party or if he too is prevented from discharging the said function, the Member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the necessary appointments.
(5) The arbitral tribunal shall reach its decision by a majority of votes. Such decisions shall be binding on both Contracting Parties. Each Contracting Party shall bear the cost of its own member of the tribunal and of its representation in the arbitral proceedings; the cost of the Chairman and the remaining costs shall be borne in equal parts by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting Parties, and this award shall be binding on both Contracting Parties. The tribunal shall determine its own procedure.
ARTICLE 11
Entry and Sojourn of Personnel
A Contracting Party shall, subject to its applicable laws and regulations relating to the entry and sojourn of non-citizens, permit natural persons of the other Contracting Party and personnel employed by companies of the other Contracting Party to enter and remain in its territory for the purpose of engaging in activities connected with investments.
ARTICLE 12
Applicable Laws
Except as otherwise provided in this Agreement, all investments shall be governed by the laws in force in the territory of the Contracting Party in which such investments are made.
ARTICLE l3
Application of other Rules
If the provisions of law of either Contracting Party or obligations under international law existing at present or established hereafter between the Contracting Parties in addition to the present Agreement contain rules, whether general or specific, entitling investments by investors of the other Contracting Party to a treatment more favourable than is provided for by the present Agreement, such rules shall, to the extent that they are more favourable, prevail over the present Agreement.
ARTICLE l4
Exceptions
Nothing in this Agreement precludes the host Contracting Party from taking action for the protection of its essential security interests or in circumstances of extreme emergency in accordance with its laws normally and reasonably applied on a non-discriminatory basis.
ARTICLE l5
Entry into Force
This Agreement shall enter into force on the first day of the following month after the date on which both Contracting Parties have notified each other in writing that their respective internal legal procedures have been fulfilled.
ARTICLE l6
Duration and Termination
(1) This Agreement shall remain in force for a period of ten years and thereafter it shall be deemed to have been automatically extended unless either Contracting Party gives to the other Contracting Party a written notice of its intention to terminate the Agreement. The Agreement shall stand terminated one year after the date of such written notice.
(2) Notwithstanding termination of this Agreement pursuant to paragraph (1) of this Article, the Agreement shall continue to be effective for a further period of fifteen years from the date of its termination in respect of investments made or acquired before the date of termination of this Agreement.
In witness whereof the undersigned, duly authorised thereto by their respective Governments, have signed this Agreement.
Done at …………. on this …day of ………….. in two originals each in the Hindi, Chinese and English languages, all texts being equally authentic. In case of any divergence, the English text shall prevail.
For the Government of For the Government of
the Republic of India the People’s Republic of China
Protocol to the Agreement between the Republic of India and the People’s Republic of China on Promotion and Protection of Investments
On the signing of the Agreement between the Republic of India and the People’s Republic of China on Promotion and Protection of Investments, the undersigned representatives have agreed on the following provisions which constitute an integral part of the Agreement .
I. Ad Article 4, Paragraphs 1 & 2
1. In respect of the People’s Republic of China, Paragraphs 1& 2 of Article 4 do not apply to:
(a) any existing non-conforming measures maintained within its territory;
(b) the continuation of any non-conforming measure referred to in sub-paragraph (a);
(c) an amendment to any non-conforming measure referred to in sub-paragraph (a) to the extent that the amendment does not increase the non-conformity of the measures, as it existed immediately before the amendment, with those obligations.
The non-conforming measures shall be capped at the current level and it will be endeavoured to progressively remove the non-conforming measures.
2. In this respect the People's Republic of China shall accord to the investors of the Republic of India treatment not less favourable than that accorded to the investors of any third State.
II. Ad Article 7
1. With regard to People’s Republic of China:
(a) Article 7, paragraph (1)(c) will apply provided that a loan – agreement has been registered with the relevant foreign exchange administration authority ;
(b) Article 7 paragraph (1)(f) will apply provided that the transfer shall comply with the relevant formalities stipulated by the present Chinese laws and regulations relating to foreign exchange control;
(c) to the extent that the formalities mentioned in (a) & (b) are no longer required according to the relevant provisions of Chinese law, Article 7 shall apply without restrictions.
2. In this respect the People's Republic of China shall accord to the investors of the Republic of India treatment not less favourable than that accorded to the investors of any third State.
3. These formalities shall not be used as a means of avoiding the Contracting Party’s commitments or obligations under this Agreement.
III. Ad Article 5
With regard to the interpretation of expropriation under Article 5, the Contracting Parties confirm their shared understanding that :
1. A measure of expropriation includes, apart from direct expropriation or nationalization through formal transfer of title or outright seizure, a measure or series of measures taken intentionally by a Party to create a situation whereby the investment of an investor may be rendered substantially unproductive and incapable of yielding a return without a formal transfer of title or outright seizure.
2. The determination of whether a measure or a series of measures of a Party in a specific situation, constitute measures as outlined in paragraph 1 above requires a case by case, fact based inquiry that considers, among other factors:
i. the economic impact of the measure or a series of measures, although the fact that a measure or series of measures by a Party has an adverse effect on the economic value of an investment, standing alone, does not establish that expropriation or nationalization, has occurred;
ii. the extent to which the measures are discriminatory either in scope or in application with respect to a Party or an investor or an enterprise;
iii. the extent to which the measures or series of measures interfere with distinct, reasonable, investment-backed expectations;
iv. the character and intent of the measures or series of measures, whether they are for bona fide public interest purposes or not and whether there is a reasonable nexus between them and the intention to expropriate.
3. Except in rare circumstances, non-discriminatory regulatory measures adopted by a Contracting Party in pursuit of public interest, including measures pursuant to awards of general application rendered by judicial bodies, do not constitute indirect expropriation or nationalization.
For the Government of For the Government of
the Republic of India the People’s Republic of China
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