Social security fund management of the new regulations: within the scope of the provisions of the stock – in the new network yesterday, the State Council promulgated the "national social security fund regulations" (the "Regulations"), May 1st. "Regulations" explicitly state capital transfer of social security funds, while the provisions of the National Council for social security fund is responsible for investment and operation of social security funds, and in accordance with the proportion of the approval of the State Council in domestic and overseas market investment and operation of national social security fund. Mainly used to deal with the aging of population security expenditure in August 2000, the establishment of the national social security fund, 16 years, through funding and constantly enrich, plus investment income, as of the end of last year, size of the fund has reached 15085.92 billion yuan. Social security fund is different from the social insurance fund, as the national social security reserve fund, mainly used for the aging of the population in the peak period of old-age insurance and other social security expenditure supplement, swap. According to the regulations, funds from the central government budget and transfer of state-owned capital, the investment return of the fund and by other ways approved by the State Council to raise funds. In 2001, the Ministry of Finance and the former Ministry of labor and social security issued the "Interim Measures for the administration of the national social security fund investment", has been provided to the national social security fund for securities investment funds, equity investment shall not be higher than 40% of the proportion of investment. The provisions of the regulations, the national social security fund can be approved by the State Council, fixed income categories, stocks and other types of assets and the proportion of non listed equity assets within the reasonable allocation of assets. Peking University Financial Law Research Center Director Liu Jianwen said, the "Regulations" on the stock market generated positive will appear in the recent. Audit at least once a year for the audit of the fund to invest in a fund? The "Regulations", the National Social Security Fund Council should be prudent, prudent management and operation of the national social security fund. The State Council Legislative Affairs Office of the relevant person in charge, because of the different funds in the endowment insurance, the current need to pay the fund, in the short term without spending, more suitable for carry out medium and long-term investment. The person in charge of introduction, in the regulation of the fund, the "Regulations" clearly the regulatory duties and powers, strengthen the supervision of the investment manager and custodian, strengthen the audit of the fund, and improve the system of open fund. The "Regulations" clearly put forward the Audit Commission audit of the fund every year, the audit results to the public. In addition, "violations of regulations" of the investment manager and custodian of the clear legal responsibility. Which clearly leaked because of his position to facilitate access to the national social security fund is not public information, the use of the information or engage in express, implied others engaged in trading activities related to; and embezzlement, misappropriation or investment and operation of the national social security fund and other illegal acts, will be confiscated of the illegal income, illegal income and impose more than 1 times 5 times the following fine, no illegal income or the illegal gains are less than 100 million yuan, impose a fine of not less than 10 million yuan of above 100 million yuan following a fine. Whether the transfer of state-owned 1 – focus will affect the enthusiasm of state-owned enterprises? The "Regulations" clearly stipulates the state-owned assets will be the transfer of social security funds. How to transfer? Liu Jianwen said, can be through equity, cash, but also.