government encourages young people to venture capital, but China’s legal system on this aspect is not perfect, coupled with the background of society, the development of venture capital industry is not simple. In the complex and volatile international situation, the economic impact of the financial crisis is still deep, and the new situation of the development of domestic economy to change, China’s venture capital industry is facing a new period of strategic development, carrying the important historical mission of the new. At present, China’s venture capital industry although is in rapid development, but the objective is the lack of strategic direction and goals clear, the construction of the market system is obviously lagging behind, to the industry and relevant aspects of attention and solve related problems.
1) the lack of overall planning and phased goal, whether long-term planning in the national economic and social in, or in the government work report, the venture capital industry was very, very general, lack of clear guidance
2) laws and regulations are not perfect, not complete, especially the "Interim Measures" of the management of venture investment enterprises still remain at the level of regulation, lack of legal authority. There are a lot of loopholes in the limited partnership in the partnership law, the legal person qualification is not clear, the general partner bears unlimited joint and several liability, but there is no relevant legal system.
3) although the venture investment related preferential tax policies have been promulgated, but because the relevant provisions and executive departments to cross boundaries and poor implementation, and emphasis on ex post incentives support, rather than on the orientation of advance support.
4) higher than the index of the GEM Listing Rules listed on the gem enterprise profit. Too much emphasis on substantive audit, while listed companies continued innovation and growth in the future lack of scientific prediction and judgment, objective to mislead investment institutions over the pursuit of IPO (IPO) project.
5) registered in overseas venture capital business engaged in domestic institutions and enterprises within the territory of Chinese not legal, but the relevant government departments to enjoy national treatment, especially in some industry organizations and registered overseas investment and financing consulting agencies, even the name of "China" prefix in the territory of a variety of non legitimate activities.
6) direct investment brokerage business evolution from its own funds self management mode to raise social capital management mode, still with a strong "sponsor + investment + underwriting" sets a monopoly, focusing on investment in IPO before the project, not to play its unique advantages, focus on specialized investment business mergers and acquisitions.
7) of foreign funded financial institutions, the large state-owned background and cross-border business advantages, with the equity investment under the banner, to enter the domestic large-scale, raise renminbi funds, also focused on grab before IPO project.
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