Obstacles To Development Of China's Venture Capital And Countermeasures

When we step into the 21st century, the reformations and development in our country have entered a crucial time. After we joined the WTO, the reformation in economic system has been carried out omni-directionally. With the unceasing development of the economy, that kind of economic growth which depends on the extension has come to the end, the problem about the lack of effective demand and new economic growth point with high quality has become more and more prominent. Facing this new economic pattern, we must seek a new and powerful lever that can impel the economic structure to optimize and industrial structure to upgrade in order to stimulate the development of economy. According to the experiences of the development in developed country with mature marketing economy, one of the positive and effective measures is to cultivate vigorously new economic point with high-speed growth — new high-tech industry, and to promote the development of new high-tech industrialization by venture capital--- the auxiliary booster of high-tech innovation system.The venture capital popularized in the last few years is a new investment mechanism which combines science and technology and the finance. It promotes the development of emerging technology and the emerging industry by flexible ways of investment. Mr. Song Jian, former national science committee director, once pointed out: venture capital is an important "bridge" that causes the massive emerging technical achievements to move towards society, a "hotbed" in which new high-tech enterprises expedites new high-tech products, a matchmaker who facilitates the marriage of new high-tech achievements and the marketing economy, and a "guide" to develop emerging industries.Since 1980s, with the unceasing emerge of emerging technology led by microelectronic technology, an industrial revolution taking the scientific research institution as a backing and rapidly transforming the newest scientific research achievements into new high-tech product has become popular in America, Japan,...