我国主权财富基金监管的法律问题研究

发布时间：2018-10-14 09:16

【摘要】：近年来，国家主权财富基金发展迅速，到目前为止全球主权财富基金的资金规模已达到3.15万亿美元，，作为国际金融市场的重要投资者和参与者，由于其具有庞大的资金规模以及对国际金融市场的强大影响力，主权财富基金越来越受到西方发达国家的密切关注，其对主权财富基金的监管也越加严格，尤其是对新兴市场国家的主权财富基金。中投公司作为国家主权财富基金的新参与者，也是我国唯一的一支国家主权财富基金，中投公司的法律地位界定有待进一步明确，风险监管及防范制度仍有必要进一步完善。我国需要对中投公司存在的问题，需要进一步完善其法律监管方面的制度。本文主要以国家主权财富基金的法律地位、面临的风险以及风险防范为切入点，对主权财富基金在法律地位、面临的风险以及风险防范中所存在的问题进行深入分析，并对中投公司在这三方面存在的问题以及如何完善进行分析。全文共分为三个部分：第一部分“主权财富基金的法律地位问题”。首先从主权财富基金的资产性质、治理结构以及投资方式进行理论分析，然后针对中投公司的资产性质和治理结构进行具体分析来界定中投公司的法律地位。第二部分“主权财富基金的风险防范问题”。本部分首先从主权财富基金所面临的国家风险、投资风险、市场风险以及操作风险等四种风险进行理论分析，并以中投公司为例对我国主权财富基金所面临的风险进行具体分析。其次，具体针对主权财富基金在风险防范中的信息披露和透明度问题作出具体分析，主要分析了“圣地亚哥原则”中关于信息披露和透明度的具体规定以及所存在的问题，再以淡马锡公司为例具体分析淡马锡公司的信息披露和透明度制度，指出了中投公司在信息披露和透明度方面存在的问题和缺陷；最后具体分析了挪威全球养老基金的风险管理和防范机制。第三部分“我国主权财富基金法律监管的完善”。本部分主要针对中投公司在公司治理结构、信息披露和透明度以及风险防范机制中的缺陷，提出了对我国主权财富基金的具体改进完善的建议。
[Abstract]:In recent years, national sovereign wealth funds have developed rapidly. So far, the size of global sovereign wealth funds has reached 3.15 trillion US dollars. They are important investors and participants in international financial markets. Because of its huge capital size and its strong influence on international financial markets, sovereign wealth funds are receiving more and more close attention from western developed countries, and their supervision of sovereign wealth funds is becoming more and more stringent. In particular, sovereign wealth funds for emerging market countries. As a new participant of national sovereign wealth fund, CIC is the only national sovereign wealth fund in China. The definition of legal status of CIC needs to be further clarified, and the risk supervision and prevention system still needs to be further improved. China needs to solve the problems of CIC and to perfect its legal supervision system. Based on the legal status, risk and risk prevention of sovereign wealth fund, this paper makes an in-depth analysis of the legal status, risk and risk prevention of sovereign wealth fund. And the CIC in these three aspects of the problems and how to improve the analysis. The paper is divided into three parts: the first part, the legal status of sovereign wealth funds. Firstly, this paper makes a theoretical analysis on the nature of assets, governance structure and investment mode of sovereign wealth funds, and then analyzes the nature and governance structure of assets of CIC to define the legal status of CIC. The second part is the risk prevention of sovereign wealth funds. In this part, first of all, four kinds of risks, such as country risk, investment risk, market risk and operational risk, are analyzed theoretically. And take CIC as an example to carry on the concrete analysis to the risk that our country sovereign wealth fund faces. Secondly, the paper makes a specific analysis on the disclosure and transparency of information in the risk prevention of sovereign wealth funds, mainly analyzes the specific provisions of the Santiago principles on information disclosure and transparency, as well as the existing problems. Then take Temasek Company as an example to analyze the information disclosure and transparency system of Temasek Company and point out the problems and defects of CIC in information disclosure and transparency. Finally, the paper analyzes the risk management and prevention mechanism of Norway's global pension fund. The third part is the perfection of the legal supervision of the sovereign wealth fund in our country. This part mainly aims at the defects of CIC in the corporate governance structure, information disclosure and transparency, as well as the risk prevention mechanism, and puts forward specific suggestions to improve and perfect the sovereign wealth fund of our country.
【学位授予单位】：西南政法大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：D996.2

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