我国慈善组织投资活动的立法局限及其突破

Legislative Limitations and Breakthroughs in Investment Activities of Charitable Organizations in China

摘要: 积极开展投资活动是实现慈善资产保值增值的重要手段，它有利于慈善组织在实现慈善目标的同时保持独立性、增强稳定性，为慈善行业创造更加优越的发展条件。国内现行慈善法律法规体系中，慈善资产定位和所有权不明晰、慈善资产投资缺乏义务性规定、部分财产投资存在限制性条款、“合法、安全、有效”原则适用性不足、慈善组织投资者身份定位失当等问题，客观上成为了基金会等慈善组织消极投资和资产管理业绩不良的重要推手。为此，必须在完善现行法律法规和政策的过程中，让慈善组织的投资者权利及其义务回归本位，为慈善组织实现资产保值增值创造更加开阔和宽广的活动场域。

Abstract: Actively investing is an important means to achieve the maintenance and appreciation of charitable assets. It is also beneficial for charitable organizations to maintain independence and enhance stability while achieving charitable goals, and to create more favorable development conditions for the charity industry. In the current domestic charity legal and regulatory system, unclear positioning and ownership of charitable assets, lack of mandatory regulations for charitable asset investment, restrictive clauses for certain charity assets, insufficient applicability of the “legal, safe, and effective” principle, and improper investor positioning of charitable organizations have objectively become important drivers of passive investment and poor asset management performance of foundations and other charitable organizations. Therefore, in the process of improving current laws, regulations, and policies, it is necessary to return the rights and obligations of investors of charitable organizations to their original position, and create a broader and more extensive activity field for charitable organizations to achieve asset maintenance and appreciation.