Introduction

China’s State-owned enterprises (SOEs) have emerged as major players in global investment flows, particularly following decades of reform and the launch of the ‘Go Global’ strategy. As Chinese SOEs expand their presence in developed economies, concerns over their ties to the Chinese Party-State have intensified, prompting legal and policy responses from host countries. This introductory chapter frames the book’s central inquiry: how the latest round of SOE reforms since 2013, led by the Xi Jinping administration, has reshaped the governance of SOE outbound investment, and how developed host States can respond to the associated risks through legal means without undermining investment openness. Using Australia as a case study, the book situates its analysis at the intersection of Chinese political economy, foreign investment law, and international treaty regimes. The chapter defines key concepts, outlines the book’s structure, and identifies three overarching research questions that guide the analysis: the evolving relationship between SOEs and the Party-State; the implications for SOE-led FDI; and the adequacy of host State legal frameworks. Framing Chinese SOEs as both commercial actors and instruments of national strategy, the chapter provides essential context for understanding the legal complexities of China’s outward investment in an era of strategic rivalry.