我国国家主权财富基金运营的困难与对策分析

Difficulties in the Operation of Sovereign Wealth Funds in China and the Countermeasures

国家主权财富基金是许多国家积极推崇的投资工具,我国国家主权财富基金成立后在股权、债权、资本金运营方面取得了一定的进展,但同时存在着法律监管缺位、定位模糊、市场化程度低和投资区域结构不合理等方面的缺陷。为此,应尽快制定一整套切实可行的法律制度,加强对国家主权财富基金的内部和外部监督;完善投资程序,建立合理的绩效评估体系,适当提高透明度;以市场化、商业化的标准约束其行为,尽可能降低政府的影响;建立主权财富基金的风险防范体系,降低投资的风险,提高我国国家主权财富基金的运营效率。

As an investment instrument, the Sovereign Wealth Funds （SWF） is greeted by most of the countries. We have made great achievement in terms of share, debt and capital operation in China. But there are still some problems with this, such as the lack of legal oversight, fuzzy positioning, the low level of marketization and the irrational regional structure of investment. So, we should formulate a feasible law system, strengthen the internal and external oversight, improve the investment procedure, establish a rational performance evaluation system, establish the restraint mechanisms with the standard of marketization and commercialization to decrease its impact on the government, establish a system to guard against general risks and improve the operational efficiency of SWF.