The Road Of China's Private Equity Fund Legislation, The Legal System From Foreign Private Equity Funds

Privately Offered Fund refers to the congregated investment system that is raised by private way from a few particular investors and run as fund.At 1990's it appears at China's stock market,its powerful vitality quickly expanding and shock to the stock market make it the focus of China.But there're still many problems,such as nonstandard operation and etcs.This paper puts forward some suggestions on the lawmaking of Privately Offered Fund using matured legislation experience of overseas countries for reference.This paper contains four parts.PartⅠ:The author paraphrases the concept of Privately Offered Fund(POF) and discuss its legal character.That leads to a conclusion that POF id a kind of trust innovation product.Then conpare it with other finacial businesses,e.g. Public Offered Fund,illegal funding.PartⅡ:Retrospecting the history of POF development at first.Then put forward three mainly questio juris,Unlegal poison,the broadly existing promise of lowest income,with capital raised from stock market and borrowed from banks. Then list three necessity of standardize development to elaborate the next parts.PartⅢ:Comparative study of overseas legal system.USA have the most matured system in this area.So in this part the author recount American law of POF,such as the privated issued system and etc,also study that of British and Taiwan.to find some usefull things to put forward the legislation of ChinaThe last section is the main part of this paper,it consult overseas legal experience,policy suggestions are raised to legalize the Privately Offered Fund on the aspect of legislation mood.market access,organization,supervisory and etcs.