Research On China’s Oil Stability Fund

With the development of society and the continuous evolution of industrialization,the widespread use of oil affects the world’s political and security landscape.Petroleum security plays a very important role in any country.At the same time,oil has also become One of the symbols of power and influence worldwide.Since the oil crisis of the 1970 s,various oil resource-based countries have established oil stabilization funds to ensure the stability of oil revenues and promote the development of the domestic economy.At the same time,due to the dominant position of oil revenue in the country’s finances,most of the oil stabilization funds in these countries have existed in the form of sovereign wealth funds,and the essence is to ensure the country’s economic stability through oil revenues.Unlike oil resource-based countries,as the world’s largest oil consumer and importer,China’s oil revenue is huge but it does not occupy the dominant position of fiscal revenue.At the same time,it has almost no right to speak in the international oil market.The fluctuation of international oil prices is in China.The domestic oil market has a huge impact.This current situation is closely related to China’s oil security,domestic oil market structure,and oil revenue distribution system.In view of this,China can do the opposite and use related oil revenues and state finances to ensure oil security and promote the healthy development of the oil industry.China’s oil stabilization fund means that in order to safeguard national oil security,promote the development of the oil industry,improve the oil distribution system,increase the right to speak in the international oil market,commensurate the oil proceeds in proportion,or inject funds into foreign exchange in other industries,the government The establishment and establishment of a special institution for the management and operation of special funds with the sovereign wealth nature have characteristics in common with other countries’ oil stabilization funds.By establishing a legal system for an oil stability fund,huge oil revenues can be pooled to interact with the oil financial market.At the same time,the advanced management system and sound investment system are used to promote the system to function well and make it stable.The benefits of investing in the research and exploration of the petroleum industry will,in the long run,safeguard oil security,promote the healthy development of the petroleum industry,and improve the oil revenue distribution system.This article starts with the basic theory of the oil stabilization fund,and introduces and discriminates the oil stabilization fund and the sovereign wealth fund system,eliciting the meaning of the oil stabilization fund.Secondly,through the introduction of the principle and universality of sovereign wealth funds in the practice of international organizations,and the analysis of the origins and development of oil stabilization funds in countries such as Russia,Norway,and Chile,we summarize lessons learned from them and build oil stability for China.The fund legal system provides a reference.Third,focusing on the current situation of China’s oil market,we consider the establishment of China’s oil stability fund legal system from the perspective of the establishment of the background,the status of relevant systems,and the legal basis.Finally,based on the analysis and summarization of the previous sections,combined with specific national conditions,and drawing lessons from advanced foreign practices at the same time,suggestions are made for the construction of China’s oil stability fund legal system.