| Sovereign wealth funds has been Known as "fire fighter" and focused by international attention recently, especially when the increasingly powerful Russian Stabilization Funds and the establishment of China Investment Co., can be said that these caused some panic and anxiety in some Western powers. To this end, there is rising trend of financial protectionism. When seeing the sovereign wealth funds' positive role in the sub-prime crisis, United States and some other developed countries'attitude toward sovereign wealth funds begin to mitigate. But we should see the present moderation is only temporary needs, out of protecting their own interests these large Congress will run counter to their own abuses and appeals in the end, which strongly advocated by the financial liberalism. To this end, recently established China Investment Corporation must actively learn the success of other countries' legal regulation in sovereign wealth funds, so to provide a good basic system for its development, which can make it mature as quickly as possible, so would able to reverse the current unfavorable situation.Therefore, on the basis of fully utilizing the already existing international rules, to build and perfect investment guarantee mechanism which guarantee China's sovereignty wealth funds making money, at the same time building sovereign wealth funds'review system which carrying out clear standards on the foreign sovereign wealth funds flowing into China. Through building two-way legislation guarantee mechanism, to provide fine system basis for China Investment Corporation's development, make it mature as quickly as possible, then reverse the current negative situation.This article has defined the concept of sovereign wealth funds based on the existing literature, and has analyzed the development and problems of the China's sovereign wealth fund. it has about four thousand words. In addition to the introduction and conclusion, the article is divided into four parts: The first part is "The profile of sovereign wealth funds." It has also discussing the emergence and development of China's sovereign wealth funds separately, and analysing the reason of the situation that the China Investment Corporation investment abroad less profit and more loss.The second part is "The management and operation mechanism of the sovereign wealth funds." Sovereign wealth funds have been pursued a proactive management policy in many countries. After 50 years of development and growth, the sovereign wealth funds management model has undergone three stages of development, Most countries have chosen to establish the last one which is professional and independent from central bank and Ministry of Finance.The third part is "The foreign sovereign wealth funds of the legal system." This chapter is divided into two positive and negative parts, one is about the legal regulation which protect the sovereign wealth funds running smoothly on SWFs home country, the other is about the establishment of the legal protection regulation by the sovereign wealth funds recipients aiming at managing the foreign sovereign wealth funds investment from the perspective of national security.The fourth part is " full using of international and domestic institutional framework to protect the development of China's SWFs." On the base of analyzed the agreements on the sovereign wealth funds'conductional rules and investment principles reached by the IMF and OECD, It try to develop the China sovereign wealth funds by using the existing international rules. On the analysis of the third chapter, it try to prove the legal protection mechanisms which could strength the Chinese sovereign wealth funds development in two aspects.
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