Study on the Improvement of China's Overseas Investment Insurance System

China's overseas investment insurance system started from the policy demand and international practice after the reform and opening up, and its development has gone through an evolutionary process from early legislative exploration to systematic construction.In the 1980s, along with the expansion of the scale of outbound investment, China initially regulated the investment behavior through the Measures for the Administration of Foreign Exchange of Overseas Investment and other laws and regulations, and attempted to underwrite the political risk relying on the People's Insurance Company of China (PICC), but it was limited by a single type of insurance, insufficient coverage and the absence of law. The establishment of China Export and Credit Insurance Corporation in 2001 marked the formalization of the institutional framework to for enterprises by underwriting commercial and political risksprovide protection . However, the current system still faces multiple challenges: the lag in domestic legislation has led to a poor interface with international mechanisms such as MIGA, the design of insurance products fails to cover new types of risks (e.g., riots, indirect expropriation), and the lack of services for small and medium-sized enterprises (SMEs) and the inefficiency of claiming for compensation have been highlighted. Based on this, it is necessary to formulate the Overseas Investment Insurance Law to clarify the subrogation rules, expand digital and customized insurance types, and build a regional risk-sharing mechanism in cooperation with MIGA and ADB, so as to for going abroad provide resilience support Initiative and globalization strategy.the Belt and Road