Research On Venture Capital Withdrawal Mechanism Of China

Venture Capital withdrawal system is the most important part of the whole Venture Capital market. It is known that advanced Venture Capital market will contribute much to one country's high-tech industries.At present, the venture capital withdrawal is still the "bottleneck" in Chinese. Our withdrawal method is simplex. Lacking the perfect regulation and policy system, lacking perfect capital market are the two hinder factors limiting our venture capital withdrawal. To some degree, this prevent giving play well to the role of Venture Capital. The following is the current choice analysis of Chinese venture capital withdrawal.First, IPO is restrained by the terms regulated by the company law and the present situation of security market.Second, According to the withdrawal analyses of merging purchase. It is proved by the practice that merging purchase withdrawal is a successful withdrawal choice which is easily completed by our venture capital.But in the end of last year, the stocks in middle and small-scale enterprise market realized circulation totally, It offers a new channel for the internal venture capital to withdraw. At the same time, the revise of company law also make it easier to be listed. The two new measurement, must be beneficial to withdraw through IPO. It offers a new channel for the internal venture capital to withdraw. Its healthy operation will offers the relatively objective standard of value judgment for venture capital.At the end of the article, the author put forward some suggestions and measurements. On the one hand, Our government should press on with establishing Venture Capital Law and continue revising some terms of current law that conflict with the development of Venture Capital. On the other hand, Our government should strengthen the supervisory degree on the base of merging purchase experience and bring up the middle and small-scale enterprise market as a real growth enterprise market gradually;set up the healthy standard and feasible withdrawal system fitting our situation, to promote the transfer of technical fruit and the development of high-tech industry, making our economy developing on a higher jumping-off point.