主权财富基金透明度问题的国际法律规制

Study on the Transparency of Sovereign Wealth Funds

过去几年的国际金融市场,尤其是美国次贷危机爆发以来,主权财富基金成为国际社会最为关注的课题之一。由于主权财富基金的特殊身份,其透明度问题更是成为关注的焦点。该问题引起注意的原因不仅仅是主权财富基金不断增长的速度与规模,它对全球金融市场潜在的影响力和其资金绝大多数来源于发展中国家,则是背后更深层次的动因。为了缓解各方压力,经过国际社会共同努力,IMF与OECD已经制定了与透明度相关的各种规则。虽然IMF和OECD的报告已经迈出了开创性的一步,但仍存在很多局限,对于这些规则的进一步完善,有待于国际社会的共同努力。

Over the past few years,sovereign wealth funds has become one of the most concerned topics related to the international financial markets,especially after the United States sub-prime mortgage crisis.As the special status of sovereign wealth funds, the issue of transparency is becoming the focus of attention.Reasons for their attention are not only about its growing speed and scale,the deeper motive behind is the potential influence on the global financial markets and the vast majority of their funds from the developing countries.In order to alleviate pressure for all sides,the international community worked together.IMF and OECD have developed related rules of transparency. This paper will analyz the origin of sovereign wealth funds,and,according to the existed relevant international rules,comment on the institutional framework for transparency of sovereign wealth funds.