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主权财富基金(Sovereign Wealth Fund,SWF)的崛起是金融全球化和全球经济失衡发展的必然结果。近年来,与主要发达国家经济缓慢增长和陷入财政和贸易双赤字相反,出口导向型国家和资源出口国的经济快速增长,国际收支长期顺差,外汇储备快速增长。在满足对外汇储备常规需求的基础上,如何更有效地经营管理好这些储备以获得更高回报成为
The rise of sovereign wealth funds (SWFs) is the inevitable result of the financial globalization and the global imbalances. In recent years, contrary to the sluggish economic growth and the double-ended fiscal and trade deficits in the major developed countries, the economy of export-oriented countries and resource-exporting countries has enjoyed rapid growth with long-term balance of payments surpluses and rapid growth of foreign exchange reserves. On the basis of meeting the conventional needs of foreign exchange reserves, how to manage and manage these reserves more effectively so as to obtain higher returns becomes