Study Of Venture Capital System

In the 21th century, science advancement and the hi-tech industry have become the main accelerator to our economic development. Each year, a lot of material resources and manpower are put into our technology research field, and do get some achievements. But for restrained by the planned economy for a long time, many technology achievements in our technology departments and universities cannot be transformed into merchandise in spite of that these productions are in urgent need in our country. One of the most important reason for this is the lack of venture capital. In the developed countries, their technology transformation level is high, and the cycle of the invention from the lab to the market is becoming shorter and shorter. All of these can be attributed to the mature venture capital system in these developed countries. Venture capital is a business behavior, whose purpose is to pursue extra profit. It combines the new invention of technology, the ability of enterprisers, and the capital. Through the market analysis and feasibleness demonstration, the venture capital institutions find the profitable items and put the money into them. Venture capital can help the hi-tech companies to set up and put them into maturity. The world has already step into an intellectual economy age. Only those countries that take the advantages in hi-tech will keep ahead in the development of economy and international competition. So the venture capital industry is very important to our country. But the situation about Chinese venture capital system is not optimistic. First of all, the hi-tech items are short. Second, we need a better venture capital system. Third, we need the Second Board to act as the extraction institution of the capital.Based on the relationship of high-tech industry and venture capital, and referring to the success of developed countries, my thesis give the introduction to the venture capital system, and the present situation in china, and want to solve several problems in Chinese venture capital system, such as the weakness of the main parts of the venture capital system, the lack of Second Board, and the defect in the law system.This thesis consists of four chaptersChapter 1: a brief account of venture capital system. It analyzes venture capital's meanings, features and compositions. And it is divided into two parts. The first part gives the meanings of venture capital and each part of the venture capital system, the features of them, and the relationship of them. The main parts of the venture capital system are the origination of the venture capital, the institution of the venture capital, the venture company, and the medium institution of venture capital. To understand these parts of the venture capital system more deeply, the second part of the chapter gives the process of the venture capital operating system.Chapter 2: the practice of venture capital in the foreign countries. In this chapter, we selected three countries: United States, German, and Japan, whose venture capital systems are advanced. Thanks to the comparative advanced capital industry in the US, we can get some valuable experiences, such as the energetic venture capital organism, high growth enterprises, feasible method and good political and legal environment. The benefit we can get from the venture capital industry in German is the effect measurement of their reform to the venture capital system. The experiences we can learn from Japan is the government assistant model in their venture capital system. reform of Chinese law system to adapt to the venture capital system.Chapter 3: the present situation of Chinese venture capital system. In this chapter, we introduce the general aspect of venture capital in China. This chapter is divided into three parts. The first part of this chapter gives the origination and development of the venture capital in China. The second part of this chapter gives the weakness of main parts of the venture capital system in China, such as the...