English Abstract: State-controlled entities (SCEs) — especially state-owned enterprises (SOEs) — are important players in the world FDI market. Among the 100 largest MNEs from developed countries and the 100 largest from emerging markets, at least 49 are SOEs. They control nearly US$ 2 trillion in foreign assets, the bulk of them by MNEs headquartered in developed countries. Care needs to be exercised that regulatory initiatives regarding SCEs do not lead to a fragmentation of the international investment law regime.

Chinese Abstract: 国家控制的实体(SCEs)——特别是国有企业(SOEs)——是世界外商直接投资市场上的重要参与者。在最大的100家发达国家跨国公司和新兴市场跨国公司中，至少有 49 家国有企业。他们控制着将近2万亿美元的外国资产, 大部分由总部在发达国家的跨国公司掌控。需要注意的是，对国家控制的实体的监管举措不会国际投资法制度的分裂。

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