Legal Interpretation of Commitments Made by China and America on Sovereign Wealth Fund

During the economic dialogues under the framework of the first round of China-US Strategic and Economic Dialogue， China and the United States have made commitments on Sovereign Wealth Fund and its investment. Given the background that there was misgiving on Sovereign Wealth Fund and its investment between them， China and the United States have made the commitments on the basis of their respective and common interests， in order to answer the concerns and to promote trade and investment of the two countries. The legal connotation of the commitments is that China commits to comply with Sovereign Wealth Fund’s generally accepted principles and practices， such as Santiago Principles， etc.， and the United States commits to comply with the principles of openness and non-discrimination. The commitments don’t have compulsory legal binding to both countries， but have important legal implications.