论主权财富基金海外投资的法律保护
发布时间：2018-10-31 20:07
【摘要】：在过去的10年里,主权财富基金的规模日益扩大和数量迅速增长,特别是2007年的国际金融危机以来,作为主权投资者的主权财富基金受到了人们的极大关注。人们对主权财富基金的态度也从开始的小心、谨慎,从批评主权财富基金对投资东道国的主权和国内市场的损害逐渐走向了对主权财富基金的认可和接受。本文对主权财富基金的定义和基本范畴做了评析和界定,阐述了以国际货币基金组织为代表的规制主权财富基金的国际多边法制。提出了将主权财富基金的有关投资行为放在世界贸易组织法律框架下进行规制的设想,并对这一设想的可行性做了重点分析。考虑到主权财富基金双边与多边法制的协调发展以及现有的国家间实践,本文对订立主权财富基金双边投资条约的可行性做了粗略的分析。通过考察和比较各支主权财富基金的实践,分析多边法制之下国际货币基金组织和世界贸易组织的有关规制主权财富基金的可适用性规则,以及国家之间订立的双边投资条约,得出了下述结论。主权财富基金是一个十分复杂的事物,它涉及的国际法制十分广泛,包括国际金融、国际贸易、国际投资、争端解决等有关国际法规则。单一的主权财富基金国际立法、单个的国际组织的监管或指导都无法完全解决主权财富基金关涉的所有问题;同时,主权财富基金发展的速度之快、规模之大、对国际经济的影响之深远都使得单一的国际立法和单个的国际组织无力操控。笔者设想将主权财富基金涉及的有关问题放在不同的国际组织及其立法下予以监管或指导。将涉及到主权财富基金本身和与金融有关的问题——如对主权财富基金基本范畴的界定、透明度和风险监管——放到国际货币基金组织的有关法制之下解决;将主权财富基金投资与贸易中涉及到的具体问题——如市场准入、待遇等问题——放在世界贸易组织的有关规则下解决;将主权财富基金投资和各项活动引发的争端放在解决国家和他国国民间争端解决机构下处理。从而全方位的解决主权财富基金所涉及的各个层面的问题,保证主权财富基金的健康发展和稳健运行。 对主权财富基金基本问题的界定是本文展开讨论与主权财富基金投资有关问题的基础,然后再从国际法的角度来讨论有关主权财富基金透明度、对东道国国家安全的影响以及世界贸易组织下《服务贸易总协议》与争端解决程序的适用问题。对于主权财富基金基本问题的界定理所应当的成为本文的第一部分;从多边的角度讨论主权财富基金的透明度、对东道国国家安全影响以及世界贸易组织下有关规则的适用构成了文章的第二到四部分;文章的第五部分对《华盛顿协议》做了简要的论述,以探讨对主权财富基金的投资订立双边投资规范的问题;第六部分是对文章的分析进行总结得出的最后结论。
[Abstract]:Over the past decade, sovereign wealth funds have grown in size and number, especially since the international financial crisis in 2007, sovereign wealth funds as sovereign investors have received great attention. People's attitude towards SWFs has also been cautious from the beginning, from criticizing the SWFs' damage to the host country's sovereignty and the domestic market, to the recognition and acceptance of SWFs. This paper analyzes and defines the definition and basic category of sovereign wealth fund, and expounds the international multilateral legal system of regulating sovereign wealth fund represented by the International Monetary Fund. This paper puts forward the idea of regulating the investment behavior of sovereign wealth funds under the legal framework of the World Trade Organization, and analyzes the feasibility of this assumption. Considering the coordinated development of bilateral and multilateral legal system of sovereign wealth funds and the existing practice between countries, this paper makes a rough analysis of the feasibility of concluding the bilateral investment treaties of sovereign wealth funds. By examining and comparing the practices of various sovereign wealth funds, this paper analyzes the applicable rules of the International Monetary Fund and the World Trade Organization concerning the regulation of sovereign wealth funds under the multilateral legal system, as well as the bilateral investment treaties concluded between countries. The following conclusions are drawn. Sovereign wealth fund is a very complex thing, it involves a wide range of international legal system, including international finance, international trade, international investment, dispute settlement and other relevant rules of international law. A single sovereign wealth fund international legislation, a single international organization of supervision or guidance can not completely solve all the issues involved in sovereign wealth funds; At the same time, the rapid development of sovereign wealth funds, the scale of the impact on the international economy, the far-reaching impact of a single international legislation and single international organizations can not manipulate. The author proposes to regulate or guide sovereign wealth funds under different international organizations and their legislation. (B) to place issues relating to sovereign wealth funds themselves and related financial issues, such as the definition of the basic category of sovereign wealth funds, transparency and risk regulation, under the relevant rules of law of the International Monetary Fund; (B) to place specific issues related to investment and trade in sovereign wealth funds-such as market access, treatment, etc.-under the relevant rules of the World Trade Organization; Disputes arising from sovereign wealth fund investments and activities are dealt with under the civil dispute settlement bodies of countries and other countries. In order to solve all aspects of sovereign wealth funds involved in the problem, to ensure the healthy development and stable operation of sovereign wealth funds. The definition of the basic issues of sovereign wealth funds is the basis of this paper to discuss the issues related to the investment of sovereign wealth funds, and then to discuss the transparency of sovereign wealth funds from the perspective of international law. The implications for the national security of the host country and the application of the General Agreement on Trade in Services and the dispute settlement procedure under the World Trade Organization. The definition of the basic problems of sovereign wealth funds is the first part of this paper. Discussing the transparency of sovereign wealth funds from a multilateral perspective, the impact on the national security of the host country and the application of the relevant rules under the World Trade Organization constitute the second to fourth parts of the article; The fifth part of the article briefly discusses the Washington Agreement in order to explore the establishment of bilateral investment norms for sovereign wealth funds, and the sixth part is the final conclusion of the analysis of the article.
【学位授予单位】：外交学院
【学位级别】：硕士
【学位授予年份】：2011
【分类号】：D996.2
本文编号：2303395
[Abstract]:Over the past decade, sovereign wealth funds have grown in size and number, especially since the international financial crisis in 2007, sovereign wealth funds as sovereign investors have received great attention. People's attitude towards SWFs has also been cautious from the beginning, from criticizing the SWFs' damage to the host country's sovereignty and the domestic market, to the recognition and acceptance of SWFs. This paper analyzes and defines the definition and basic category of sovereign wealth fund, and expounds the international multilateral legal system of regulating sovereign wealth fund represented by the International Monetary Fund. This paper puts forward the idea of regulating the investment behavior of sovereign wealth funds under the legal framework of the World Trade Organization, and analyzes the feasibility of this assumption. Considering the coordinated development of bilateral and multilateral legal system of sovereign wealth funds and the existing practice between countries, this paper makes a rough analysis of the feasibility of concluding the bilateral investment treaties of sovereign wealth funds. By examining and comparing the practices of various sovereign wealth funds, this paper analyzes the applicable rules of the International Monetary Fund and the World Trade Organization concerning the regulation of sovereign wealth funds under the multilateral legal system, as well as the bilateral investment treaties concluded between countries. The following conclusions are drawn. Sovereign wealth fund is a very complex thing, it involves a wide range of international legal system, including international finance, international trade, international investment, dispute settlement and other relevant rules of international law. A single sovereign wealth fund international legislation, a single international organization of supervision or guidance can not completely solve all the issues involved in sovereign wealth funds; At the same time, the rapid development of sovereign wealth funds, the scale of the impact on the international economy, the far-reaching impact of a single international legislation and single international organizations can not manipulate. The author proposes to regulate or guide sovereign wealth funds under different international organizations and their legislation. (B) to place issues relating to sovereign wealth funds themselves and related financial issues, such as the definition of the basic category of sovereign wealth funds, transparency and risk regulation, under the relevant rules of law of the International Monetary Fund; (B) to place specific issues related to investment and trade in sovereign wealth funds-such as market access, treatment, etc.-under the relevant rules of the World Trade Organization; Disputes arising from sovereign wealth fund investments and activities are dealt with under the civil dispute settlement bodies of countries and other countries. In order to solve all aspects of sovereign wealth funds involved in the problem, to ensure the healthy development and stable operation of sovereign wealth funds. The definition of the basic issues of sovereign wealth funds is the basis of this paper to discuss the issues related to the investment of sovereign wealth funds, and then to discuss the transparency of sovereign wealth funds from the perspective of international law. The implications for the national security of the host country and the application of the General Agreement on Trade in Services and the dispute settlement procedure under the World Trade Organization. The definition of the basic problems of sovereign wealth funds is the first part of this paper. Discussing the transparency of sovereign wealth funds from a multilateral perspective, the impact on the national security of the host country and the application of the relevant rules under the World Trade Organization constitute the second to fourth parts of the article; The fifth part of the article briefly discusses the Washington Agreement in order to explore the establishment of bilateral investment norms for sovereign wealth funds, and the sixth part is the final conclusion of the analysis of the article.
【学位授予单位】：外交学院
【学位级别】：硕士
【学位授予年份】：2011
【分类号】：D996.2
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