阐述了国际投资间接征收合理期待标准的形成和适用问题,认为应予保护的“合理期待”应该产生于明确的基础、具有客观和主观合理性、并且有利于投资者。“政府对投资者合理期待的干预”应该达到使投资者的期待落空的程度。但是,对投资者的保护应平衡东道国的主权利益。 This article expounds the formation and application of the reasonable expectation standard of indirect expropriation of international investment, and considers that the “reasonable expectation” to be protected should be based on a clear foundation, objective and subjective rationality, and be beneficial to investors. “The government’s intervention in the reasonable expectation of investors” should reach the level of investors’ expectations. However, the protection of investors should balance the sovereign interests of the host country.