国际投资协定视角下跨境数据流动规制措施的合规性探究

Research on Compliance of Cross-Border Data Flow Regulations from the Perspective of International Investment Agreements

摘要: 数字经济的快速发展使得数据跨境流动已成为国际投资活动中不可或缺的组成部分。然而东道国出于国家安全、数据安全及个人信息保护等多方因素考虑，纷纷制定数据规制措施，这些措施可能与国际投资协定(IIAs)中的投资保护义务发生冲突。本文以IIAs的适用性为切入点，重点分析数据在IIAs框架下是否构成“适格投资”，数据规制措施是否触发IIAs义务，以及例外条款的适用性问题。本文认为，当前IIAs在数据规制方面存在规则滞后、条款模糊、例外不清等问题，导致判断陷入合规困境。在此基础上，本文结合中国作为数字经济大国和IIAs缔约方的双重身份，提出中国应在IIAs谈判中明确数据资产地位、细化例外条款、防止规则滥用，并积极参与多边规则构建，以平衡跨境数据流动与国家安全之间的关系。

Abstract: The rapid development of the digital economy has made Cross-border Data Flows(CBDF) an integral part of international investment activities. However, host countries have increasingly adopted data regulatory measures based on national security, data security, and personal information protection concerns, which may conflict with investment protection obligations under International Investment Agreements (IIAs). This article begins by examining the applicability of IIAs, focusing on whether data constitutes as a “qualified investment” under IIAs, whether data regulatory measures trigger IIAs obligations, and the applicability of exception clauses. This article argues that current IIAs face challenges in data regulation, including lagging rules, ambiguous provisions, and unclear exceptions, leading to compliance dilemmas. On this basis, this article, drawing on China’s dual role as a major digital economy country and a signatory to the IIAs, proposes that China should clarify the status of data assets in IIAs negotiations, refine exception clauses, prevent abuse of these rules, and actively participate in multilateral rule-making to balance the relationship between CBDF and national security.