Study On Legal System Of Sovereign Wealth Funds

During recent years, Sovereign Wealth Funds (SWFs) have appeared in international economic markets with high profiles, which attract wide attention. Several SWFs invested in the weak Wall Street during this subprime mortgage crisis, and then SWFs were once called"the saviors of global financial markets". With heavy money SWFs are warmly welcomed by international society, while at the same time, the legal system to regulate SWFs'invests is making all over the world. China has set up its own SWF without a perfect legal system. As SWFs develop rapidly all around, it's profitable to standardize SWFs invests, lessen host countries'doubts and increase profits that making a perfect legal system. The paper will analyze how to build a perfect legal system in China on the base of law norms with the comparative methods.This paper is divided into four parts. Partâ… is about the general introduction of SWFs. It includes the history, characters of SWFs and the theory of SWFs legal system.Partâ…¡is related to the legal systems of other countries and international organizations about SWFs. When related to home countries, the systems of Norway, Singapore and Russia are researched; While to host countries, take the systems of U.S., Germany and France as examples. It analyzes GAPP of IMF and rules of OECD when it referrers to International SWFs rules.Partâ…¢concerns the legal system of SWF in China. It talks about the course of China's SWF and current mechanism, pointing the problems existing.Partâ…£is the information on how to make our legal system perfect. It is consisted of the path to collect money, corporate governance structure, business activities and supervision and management on the basis of our situation and international rules.