China's Social Security Fund Investment Regulatory Legal System

The social insurance fund is the substance foundation of the whole social insurance system; the fund supervision is the so important guarantee of the social insurance fund to move safe and efficiency that is the "immunity system" of the social insurance system. The design and the plan of the legal system to the supervision of the social insurance is the important constitution part of the social insurance supervision system. Nowadays, how to supervise the social insurance fund is still on the first step in our country, and also exist lots of problems. Especially, the "shanghai social insurance fund" case discovered the lose to the social insurance fund supervision system, and we must consider the shortage of the social insurance fund supervision system, improve the ways and the means, and "it is not too late to mend the fold even after some sheep have been lost", and so as to supervise of the social insurance fund.The article consist of quote words,main body and conclusion. The quote words introduce the background and the research actuality in our country and the abroad filed, and then introduce the thought train of research and the article's main points.Apart from the quote words and the conclusion, the article is divided into five parts concerning with the legal system problems of how to supervise the social insurance fund's investment and operation.Part one is the academic analysis of the legal system on how to supervise the social insurance fund's investment and operation. Firstly, the article discusses the social insurance fund is indispensable to invest and operate, and the whole supervision system, and the present related supervision legal system, and then analyses the legal relationship which produced in the course of the social insurance fund's investment and operation.Part two mainly analysis the basic theory of the legal system on how to supervise the social insurance fund's investment and operation. The article consists of three sections: firstly, the author try to explain the basic theory of the legal system on how to supervise the social insurance fund's investment and operation from the risk theory of the market failure and the risk in the finance system; secondly, the author try to explain the value choice of the supervision system from the safe,equal and the efficiency; and at last, sum up the supervision system's basic principles: legal supervise,moderate supervise, the unit of the inside and outside supervise.Part three discusses mainly about the international experiences on the how to supervise the social insurance fund's investment and operation. Firstly, the author explains the two different supervision modes in the abroad: the prudential regulation and the draconian regulation; the concentrate regulation and the disperse regulation, then discusses their disadvantages and strong points, and conclude the revelation to our country, and the author believe that we should choose the draconian regulation and the concentrate regulation.Part four firstly discusses the condition of the present how to supervise the social insurance fund's investment and operation in our country, and the analysis the problems on the lawmaking and the concrete content : the problems on lawmaking are delayed, lowness,lack of maneuverability; then the author explain the problems on the concrete content from the four angles : the invest combination,the obligation of the fiduciary,the prohibition and confine of association deal,the correlation information reveal.Part five advances the suggestions to the legal system on how to supervise the social insurance fund's investment and operation: firstly, on the macroscopically, the author proposes four suggestions to the lawmaking; secondly, on the microcosmically, the author discusses from the following four levels: the market admittance supervision,the investment and operation supervision,the market exit supervision and so on; at last, from the institution construct, the author advances to build the expert supervision committee of the social insurance fund to strengthen the fund supervision, and then the author demonstrate the essential and the necessary.