论文部分内容阅读
国民待遇原则既是《服务贸易总协定》(以下简称GATS)的一项原则,也属GATS中具体承诺的义务。在我国证券市场大力引进QFⅡ制度、逐步走向国际化的今天,我们有必要分析研究该制度下的国民待遇问题,正确看待目前的“游戏规则”、逐步改进,最终实现国内外证券市场的平等对接。国民待遇的两种模式的条款均不排斥对外资的优惠待遇,在这一点上它们的法律效果是一致的;但我们绝不提倡超国民待遇;国民待遇是QFⅡ制度渐进式开放的需要。完善QFⅡ制度国民待遇原则的对策建议是:提高我国投资者素质,壮大国内机构投资者;构建完善的市场监管体系;建立规范的信息披露机制;推进金融创新,丰富金融衍生工具。
The principle of national treatment is both a principle of the General Agreement on Trade in Services (GATS) and a specific undertaking in the GATS. In introducing the QFⅡ system vigorously into the securities market of our country and gradually becoming internationalized, it is necessary for us to analyze and study the national treatment under this system, correctly view the current “rules of the game”, and gradually improve and finally achieve the equal docking of the domestic and international securities markets . The provisions of the two models of national treatment do not exclude the preferential treatment of foreign capital, and their legal effects are the same at this point; however, we absolutely do not advocate super-national treatment; national treatment is the need for gradual liberalization of the QFII system. Countermeasures to improve the national treatment principle of the QFII system are: to improve the quality of our investors, to strengthen the domestic institutional investors; to establish a sound market regulatory system; to establish a standardized information disclosure mechanism; to promote financial innovation and enrich financial derivatives.