【作者】 田蓝；

【导师】 李玉蓉；

【作者基本信息】 吉林大学 ， 世界经济， 2009， 硕士

【摘要】 近几年来,资源出口型与新兴市场经济体等国家不断设立专门经营外汇投资的主权财富基金管理机构,蓬勃发展的主权财富基金无疑已成为全球金融市场上一种新型的很具代表性的巨大投资机构。主权财富基金不仅资金来源特殊,其投资的目标和策略也与一般投资基金不同,对全球金融体系的影响也由于其资金背景而更为复杂,因而引起了发达国家的密切关注。对持有巨额外汇储备的中国而言,设立主权财富基金更是大势所趋,但在当今这种外部局势极其严峻的情况下,自身也尚不完善的中国主权财富基金就更要密切关注其海外投资可能遭遇的政策风险与金融风险。更多还原

【Abstract】 Since entering the 21st century, as the East Asian countries accumulated foreign exchange reserves and global crude oil prices in 1999 from 10 U.S. dollars per barrel rose to 110 U.S. dollars per barrel in 2008, East Asian countries and oil exporting countries used foreign exchange reserves to build their sovereign wealth funds, the size of sovereign wealth funds rapid expansion. As the balance of payments "double surplus" producing and continuing growth, our country has accumulated a huge foreign exchange reserves. September 29, 2007, China’s sovereign wealth fund - China Investment Co., Ltd. Established, the use of channels and the management of China’s foreign exchange reserves led to a symbolic turning point.The rapid development of the world’s sovereign wealth fund, not only for the world economy at all levels had a profound impact, but also faced the pressure from a number of foreign countries from their environment and public opinion and policy. Vote because of the company’s funds in the size and identity of the Chinese big developing country, China’s sovereign wealth fund is in the air waves, so that in the current international economic situation, this article has important theoretical and practical significance.This article use the qualitative, comparative analysis, and so on, to get a more comprehensive discussion on the global rise of sovereign wealth funds and development, and China’s sovereignty wealth fund status and existing problems.After the first chapter, the second chapter is devoted to the global development of sovereign wealth funds, including the status of their investment, the development of the characteristics and description of the mode of operation; Chapter III discussed the main reasons of the development of sovereign wealth funds, the article discusses the internal driver and external conditions, illustrates the relative emphasis on prices up in resource-based commodity and Role in promoting changes in the pattern of international division of labor; Chapter IV analyzes the impact of the sovereign wealth funds on the world economy, it will be start from the three aspects: the world economy, the international financial system, fund the establishment of the country’s domestic economic policies and external stability of both parties point. The final chapter is on the basis of the previous text, to carry out an analysis of the development of China’s sovereignty wealth fund. First of all, the account in the establishment of investment companies and its inevitability, and then through the actual investment for the company’s motion to describe its current profile, the final vote for the difficulties faced by the company has targeted recommendations.This article has been in reference to the literature, the article excludes many parts of the subjective and objective data with emphasis on the fact that, at the same time pay attention to innovation. Article on discuss the intrinsic motivation of sovereign wealth funds, very novelty point out that the successful sovereign wealth funds have a role in promoting the national economy. In the fourth chapter of the analysis of the impact of sovereign funds, not only takes into account a country’s internal policies, and investment transactions of the Fund to do an analysis of the two sides separately, in this also can be further seen in the objectivity of this article. In the final chapter, when this article put forward proposal to deal with difficulties faced in the Chinese sovereign wealth funds - investment companies, Introduce not only learn from foreign experience, starting from the casting company to talk about how to ease the investment resistance, but also at national perspective emphasize the importance of supervision, and not only explain that its supervision of homeland sovereign wealth funds, but also a strong objective to be introduced as a foreign investor in the regulation of sovereign wealth funds.更多还原