Research On Relevant Issues Of The Second Board Market And Venture Capital In China

Venture capital is a kind of innovative finance tool, is the accelerator of modern hi-tech industry and does great effect to modern economy. To gain the high profits from venture investment, we must establish a smooth way of venture capital withdrawal. In 2004, with the approval of the State Council, China's Securities Regulatory Commission, small or medium-sized enterprises board was set up in Shenzhen Stock Exchange, as the first step of the long-time plan of putting out the second board in China. But because of the difference of the public offering request, stock management way and supervision method between the second board and the small or medium-sized enterprise board, the small or medium-sized enterprise board is not the real second market. This limits our venture capital withdrawal, and to some extent influences the development of our venture capital to very great degree.This text proceeds with concept of venture capital and the second board market at first, and introduces the characteristic, function of the second board market and withdrawal mechanism of venture capital. Then the text analyze the problems of venture capital exist in China thoroughly through analyzing the current situation and the comparison of data, namely lack of withdrawal channel of venture capital, unreasonable structure of the venture capital invest field and the fund source of venture capital. And these problems restrict the development of venture capital in China seriously. In the forth chapter, the text summary the factors that causing the problems exist of venture capital in China, through analyzing the factors, obtain the conclusion that lacking of the second board market is the source of the problems. After analyzing the feasibility of the extrusion of the second market, give the suggestion that the second board market must be promoted as soon as possible. In the fifth chapter, the text mainly talks about that how the second board market solves the problems exist of venture capital in China. In this chapter, through the analysis of the achievements of venture capital withdrawal model and Spearman rank correlation of relative data, gain the conclusion that the second board market provides a smoothly withdrawal channel for venture capital in China, and will increase the achievements of venture capital withdrawal, will enlarge the field of venture capital, will increase the source the venture capital, and these will solve the problems exist of venture capital in China fundamentally, and will unceasingly promote the development of Venture Capital in China.