The development of African international investment law presents evolutionary characteristics from “multilateralization” to “Africanization”, with the choice of balancing approach as one of its innovative characteristics. The balancing approach meets the internal needs of striking a balance between the exercise of national economic sovereignty and the protection of rights and interests of foreign investors. The approach is also a balance instrument for the “multilateralization” and “Africanization” of international investment law in Africa, as well as a path of “good governance” to achieve the sustainability of Africa’s international investment. The balancing approach mainly includes further specification of the host country’s regulatory rights and obligations of protecting investment, the imposition of investors’ obligations to promote sustainable development, and the procedural balancing innovation of the investor-state investment dispute settlement mechanism. Based on this, it is supposed to strengthen the systematization and modernization of China’s regulatory system for Africa-bound investments, improve the management abilities of China’s investors in Africa, and unite all parties to implement the philosophy of sustainable development.