本文以2010年《中国双边投资保护协定范本》(草案)为线索,比照美国等国家的条约范本,对尚处于发展中的国际投资协定的主要条款作了逐一、深入、细致的分析;总结新中国投资保护协定签约发展历程,结合晚近投资者—东道国纠纷典型案例,论述了国际投资法所涉及的诸多领域;指明无论如何强调在外国投资者与东道国之间寻求利益平衡,国际投资协定仍然围绕约束公权力这一主题,其核心价值在于保护私权利免受公权力的肆意侵犯。中国作为吸引外资大国,又是正在壮大的海外投资大国,应该学习、借鉴美国范本既切实促进本国投资者“走出去”又有效保护本国根本利益的先进制度设计。 Based on the draft “Model Bilateral Investment Protection Agreement of China” (draft) in 2010, this article makes a one-by-one in-depth and detailed analysis of the major provisions of the developing international investment agreement with reference to the model treaties of the United States and other countries. China’s investment protection agreement signed the development process, combined with the recent case of recent investor-host country disputes, discusses the many areas covered by international investment law; specified in any case stressed the need to seek balance of interests between foreign investors and host countries, the IIA still around The core value of restricting public power lies in the protection of private rights from the arbitrary violation of public power. As a big foreign investment country, it is also a big overseas investment country that China should expand. China should learn from and learn from the example of the United States to effectively promote the design of advanced systems for its domestic and overseas investors and effectively protect their own fundamental interests.