Dissertation > Political, legal > Legal > Chinese law > Economic Law > Foreign-related economic management Act

A Study on Legal Regulation of Sovereign Wealth Funds from China’s Perspective

Author LiXianPing
Tutor XiaoKai
School Shanghai Jiaotong University
Course International law
Keywords Sovereign Wealth Fund foreign investment legal regulation
CLC D922.295
Type Master's thesis
Year 2011
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The emergence of Sovereign Wealth Fund (SWF) has aroused attention of international community. SWFs are similar to Private Equity, and their oversea investments are also international investment. But the domestic laws concerning foreign investment and private equity and international laws like Bilateral Investment Treaties are not sufficient for the regulation of SWFs. A lot of capital-receiving countries have tried to strengthen the National Security review by new legislation or amendments to old ones in order to regulate SWFs. And as to international law level, Santiago Principles, International Forum of Sovereign Wealth Fund, and OECD Sovereign Wealth Funds and Recipient Country Policies have been made to improve international regulation. Under this background, China shall make efforts both in and outside the country. As to domestic regulation, we should strengthen the national security review mechanism of foreign merge and acquisition. We should institutionalize the joint conference and entitle more power to it; we should bring representative of State Administration of Foreign Exchange to the joint conference; and we should differentiate foreign government-controlled investors and common ones. As to international regulation, we should try to firstly incorporate the discussion of regulation policies of capital-receiving countries under IFSWF to make a more broadly accepted SWF regulation policy among capital-receiving countries, and secondly try to participate in the construction of New International Financial Architecture through the IFSWF.

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