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The China 's Sovereign Wealth Fund Legal System Build

Posted on:2010-11-08Degree:MasterType:Thesis
Country:ChinaCandidate:Z YuanFull Text:PDF
GTID:2206360275458520Subject:Economic Law
Abstract/Summary:PDF Full Text Request
In recent years,as the critical institutional investor of international financial market,Sovereign Wealth Funds(SWFs) have realized a splendid development in their numbers and fund sizes, consequently posing an increasing effect to international politics and economy. International public opinions hold affirmative stand toward SWFs,while they also express worries for their lack of transparency in investment policies and activities. For this,under the proposition of International Monetary Fund,the International Working Group(IWG) was established in 2008,which has 26 member countries.They carried out positive communications and exchanged perspectives. As a result, they voluntarily agreed on the Generally Accepted Principles and Practices , also known as Santiago Principles,which properly reflects their investment practices and objectives. According to these principles,the members of the IWG should dedicate themselves to ensure that the SWFs operate under a sound legal framework. As an important SWF,China Investment Corporation urgently needs an institutional arrangement to regulate their operations.This dissertation uses the basic theories of jurisprudence and employs the methodologies of empirical analysis, comparison and induction to the study of the legislation of SWFs. It includes three parts:The first part is the review of SWFs. It primarily concerns itself with concepts , classifications, forming background , historicaldevelopment and influence of SWFs. The second part is on international legislation of SWFs and SWF-related legal system of the members of IWG. On the one hand, it elaborates on the situation of legislation of SWFs in international level which includes legislation under the framework of International Monetary Fund and Organization for Economic Cooperation and Development. On the other hand ,it summarizes basic status of the law system of SWFs worldwide.The third part is the formation of our legal system on SWF. Through analyzing of Santiago Principles,borrowing experiences from other countries, combing concrete conditions of our country, it performs a systematic research on our legislation of SWF and proposes some legislative suggestions.
Keywords/Search Tags:Sovereign Wealth Funds, Santiago Principles, legislation
PDF Full Text Request
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