The Research Of Sovereign Wealth Funds Investment Operations Of Our Country

In recent years, the increasing development of Sovereign Wealth Funds, especially the establishment of sovereign wealth funds in Russia and China, trigger a global concern in the politicians of developed countries and the close attention of academics at home and abroad. It makes sovereign wealth funds the major problems in the world economic and political. China Investment Corporations, established in September 2007 by the Chinese Government, aimed at increasing the benefits of the foreign currency reserve assets of the proceeds with the premise of the necessary liquidity and safety. This is the important step strided by the Chinese government to actively carry out foreign exchange reserve management , however, there are some shortages or uncertainties in the current investment strategy,performance evaluation and governance structures.According to the existing literature on China's sovereignty wealth, the paper has defined the scope of the fund. That is to say,it is organized by the Central Huijin Investment Co.,Ltd.,China's investment in limited liability companies,National Council for Social Security Fund,PRC. Meanwhile it analyses the investment operation of these three elements。Then it carried out a detailed exposition and analysis on the operating characteristics of the investment Singapore's GIC and Temasek , the Norwegian Government Pension Fund,the U.S. Federal Social Security Fund,the Hong Kong MPF,and several overseas countries. It sums up the experience and the merits. with the lesson of the combined company's operation in China's social security funds and overseas financial markets and the experience overseas SWFs, it propose specific measures,including clear definition of relations and actively improve the investment strategy, optimize the allocation of staff,establish the risk management and Supervisory mechanism,and establish a rational system of performance evaluation.