Research On Legal Issues Of Sovereign Wealth Funds

In the context of subprime debt crisis,Sovereign Wealth Funds are popular in the international financial market,but also censured by the protectionism in host country, because of the lack of transparency,the connection with the government of home country.The protectionism claim that stricter domestic investment review process and financial supervision should be set up for Sovereign Wealth Funds.China have accumulated abundance foreign currency reserves,organizing Sovereign Wealth Funds is meaningful for our country.This article tries to discuss the phenomenon of Sovereign wealth funds from legal viewpoint,which is also the innovation of the article.Then,this article analyzes existing legal achievements and tendency of national,bilateral and multilateral level,offers reference and suggestion to Chinese practices,and discusses the influence to new order of international economy.The paper consists of three parts--the preface,the text and the ending.the text contains four parts:Chapter one,emphasizes the conception and developing tendency of Sovereign Wealth Funds,and analyzes the significances and controversy of the Sovereign Wealth Funds'prosperity.Chapter two,discusses the problems about the legal form and Jurisdictional Immunities,defines the legal position of Sovereign Wealth Funds,disproves the reasonless criticism from protectionism.Chapter three,analyze existing legal achievements and tendencies in both national level and international level,and their influence on Sovereign Wealth Funds.Chapter four,offers reference and suggestion to Chinese legislation,the management and operation of China investment corporation,and Chinese participation of international legislation about sovereign wealth funds.