China, as the President of the G20 in 2016, has had an opportunity to advance the discussion of these issues. The country has taken a special interest in international investment, judging from the decision to create the G20’s Trade and Investment Working Group. This reflects both the role of FDI in China’s own development and especially its recent rise as an important outward investor. This chapter discusses the emergence of China as an outward investor, embedded in the rise of emerging markets as home countries of multinational enterprises (MNEs). The chapter also contains an analysis of some policy issues related to the rise of FDI from emerging markets. A brief discussion of issues central to the future of the international investment law and policy regime follows, including the adoption of non-binding principles outlining the architecture of a comprehensive framework on international investment. The chapter finally focuses on a concrete proposal for a sustainable investment facilitation programme that could be launched as a follow-up of the discussions initiated under China’s leadership.