Title: China and the Regulation of Outbound Investment: Norm internalization and the emergence of a 'responsible investment' policy framework
Speaker: Dr Pichamon Yeophantong, Lecturer in International Relations and Development, University of New South Wales (UNSW), Australia.
Date: 31st October 2016
The talk examines China’s evolving policy framework and regulatory system for outbound investment. Parallels are drawn between emerging trends in the international investment policy landscape and China’s policy attitudes toward ‘responsible investment’, whereby recognition is afforded to the importance of ‘environmental, social and governance factors’ to ‘long-term sustainable returns’. In so doing, the talk advances an analytical framework to make sense of how ‘responsible investment’, as both concept and practice, has become internalized in the Chinese regulatory environment and with what implications for state policies and corporate conduct. Employing a socialization perspective, it posits that China is currently in the middle stages of norm internalization, with a distinctive language of responsible investment having gradually filtered into Chinese political discourse. This, in turn, has given rise to an investment policy and regulatory framework that is increasingly attuned to the nexus between responsible business conduct, legitimacy, and firm performance.