Research On The Legal Regulation Of The International Supervision Of Sovereign Wealth Fund

As early as the1950s, Sovereign Wealth Fund (referred to as "Sovereign Fund")had already appeared.But it was not until the21st century, it became a hot issuecompelling."Sovereign Fund" helps reduce the volatility of the national windfall ofeconomic and budgetary impact;conducive to the prevention of economic crisis, topromote the smooth development of economic and social;beneficial to optimalallocation of resources on a global scale. But its rapid development has also led to thefear and anxiety of the recipient countries, who worry about that the "SovereignFund" investment is not a purely commercial behavior, but rather a mix of a certainpolitical aims or strategic intent, thereby affecting its national security. In order toreduce the worries of the "Sovereign Fund" investments, many recipient countriesstrengthen the supervision of "Sovereign Fund"through domestic legislation.Then, theIMF and OECD have introduced the relevant regulatory documents.However, the international community lacks a unified regulation of "SovereignFund", which will not only lead to the rise of investment protectionism, hinder thefree movement of capital, influence fair competition between investors, but also willnot be conducive to increase he value of "Sovereign Fund".Therefore, Researching the"Sovereign Fund" international supervision has its practical significance.The article uses international supervision of the "Sovereign Fund" as anargument discussed, including two parts: introduction and body, the body is divided into four chapters:ChapterⅠoffers an overview of "Sovereign Fund",the theoretical basis for lateranalysis.The part introduces the emergence and development of clearly concept andelements, and an overview of its type and the difference with other agencies, andanalyzes the reasons for its establishment.Chapter Ⅱ gives the practice of "Sovereign Fund"supervision, this chapteranalyses from two aspects: unilateral regulation of the United States, Australia, theEuropean Union and other countries and multilateral supervision from the IMF,OECD and other international organizations, evaluates the regulatory status,pavingthe way for later international cooperation regulatory analysis.Chapter Ⅲ is "Sovereign Fund" regulatory analysis and the framework ofinternational cooperation.First,This chapter bases on analysis of the regulatory statusof the second chapter,details the necessity and possibility of "Sovereign Fund" theregulation of international cooperation. Then build a framework for the regulation ofinternational cooperation from the regulation of international cooperation, regulatoryagencies, subject to the regulations and main body to bear responsibilities.Chapter Ⅳ is "Sovereign Fund" development practices and proposals of China.First,It introduces the background,organization,the practice of major investment andthe challenges of China Investment Corporation,Then proposes measures andrecommendations of our supervision "Sovereign Fund"from China as "SovereignFund" home country, recipient country and a member of international communitythree aspects.