Analysis On The Path Of Governance Of Removing Sovereignty Fators Of China Sovereign Wealth Fund

As the only enterprise Accepting the direct leadership of the state council, China’s sovereign wealth fund has been paid much attention to.Since2007, many foreign investments of CIC often ended in failure。It is not difficult to find by careful analysis that many reasons make contribution to the failure such as Sovereignty.Management of sovereign wealth funds must rely on the basic path of "the commercial operation and free investment", rely on the reasonable regulation to sovereign wealth funds."The governance of sovereign wealth funds without sovereignty" has become the world’s common choice in Post-crisis era.Based on the nature of SWF,the paper elaborates "the new state capitalism attribute" and "rational economic man attribute",and point out the existing logical paradox. On this basis, the paper analyzes the existing problems of China’s sovereign wealth fund, and proposes corresponding solutions.The principal values of the system of trust focus on the expansion of freedom and therefore the enhancement of productivity. The management of the SWF of China is aimed at commercializing the fund-administering, facilitating the global free flow of capital, and in the end obtaining the most interest. The analogous values elucidated above makes it feasible to combine the two factors. Introducing the system of trust into the managerial model of the SWF of China can be greatly conducive to dis-separating the right of ownership and the right of benefit, stripping the double attributes of the SWF of China, and avoiding the possibility that the property of political sovereignty of the SWF should have ramifications on the overseas investment. The combination of the SWF of China and the trust management can be of tremendous significance to innovating the pattern of fund management and planning to escape the stakes involving the overseas investment in the era following the financial crisis both practicably and theoretically.