The Government of the People's Republic of China and the Government of the Republic of Benin (hereinafter referred to as the Contracting Parties), Desiring to create favorable conditions for investment by investors of one Contracting Party in the territory of the other Contracting Party; Recognizing that the reciprocal encouragement, promotion and protection of such investment on the basis of equality and mutual benefits will be conducive to stimulating business initiative of the investors and will increase prosperity in both States; Convinced that the promotion and protection of these investments would succeed in stimulating transfers of capital and technology between the two States in the interest of their economic development; Aware that each Contracting Party is entitled to stipulate the laws on the establishment and administration of the investment in its territory; Have agreed as follows: