| Under the tide of economic globalization, the development of Hi-tech small and medium-sized enterprises that based on high technique has been the focal point concerned by the governments and the theory circle. The governments have more and more realized the important status and function of Hi-tech SMEs in national economy and they tried their best to afford series of conveniences in the conditions of society, economy, finance and technology to accelerate the development of Hi-tech SMEs.With the adjustment of the industrial structure, the Hi-tech enterprises of China have been in a vital transition period during which their developments were limited by the financing bottleneck. They are thirsting for the support of venture capital (VC). In fact, VC, regarded as "the engine of economy", can afford effective investment for the utilization of technologic achievement and the rise of Hi-tech SMEs, which solved the problem of high risk and huge input during the development of Hi-tech SMEs. What's more, VC can improve the level of management and raise the competition ability of Hi-tech SMEs by investor's management participation, consultation and supervision.Hi-tech SMEs not only pursue the stability of the financing business relations, the appropriateness of the financing opportunity and the legalizing of the financing way and procedure, but also pursue the lowest cost, the best capital composition and the greatest profit. This thesis discussed the Hi-tech SME's character, growing process, external environment, financing channel and manner and the investment and management of VC through the analysis of Chinese Hi-tech SMEs' current development situation, their main restrain factor and the VC's enormous impetus to them under good environment. The hypothesis how Hi-tech SME can get VC was proposed based on the investigation of the finance strategy of HuBei DingLong Chemicals Co, Ltd. A decision-making model was built through which the best financing project was established.
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