Strategy Research For Developing Venture Capital In China

Venture capital has a history of more than half a century since its appearance' 11America is the most developed country in the field with the most peffect and most 1effective venture capital system. The high-tech industries produced from venture 1lcapital lead to the country's ten years' continuous economic growth. Its 1knowledge-based economic prosperity and the enormous competitive power make Ithe whole world astonished. Wth the entry of 21 century the governments all over 1]the worid including China are making more and more effOrts on the development of 1Jhigh-tech industries in order to face the challenges of knowledge-based economy. iMeanwhile, venture capital, a kind of financial invention, which is called the Ilactivator of high-tech industries, is more recognized by all the governments. ]lChina's venture capital can be traced back to mid eighties of twenty centur}. lIBut during more than ten years of last late century China's venture capital developed 1much more slowly and then it developed rapidly again. Nevertheless, it must be 5iclear that China's venture caPital is still on the initial stage without fOrming an J,1effective operational system. Thus, from this point of view this dissertation is 1written to make some elementary research and study on the present status of venture llcapital and the strategy of its fiJture development. lThe first chapter of this dissertation contains a brief introduction of venture icapital's characteristics and functions as well as its definition. And also gives a ]ldescription of the typical countries' history of venture capital, including - jjcharacteristics and experiences. The second chapter is made up of a presentation of.lthe developing status of venture capital in China especially in Shenzhen area and an llanalysis on a series of problems and restricted factors existing in present venture lcapital. And the last chapter is a statement on the feasible strategy of China's jIdevelopment of venture capital in the foture. 1...