China's Venture Capital System And The Second Board Market Research

The development of world economy has entranced the knowledge economy age. The core characteristic of the Knowledge economy is that knowledge innovation is the impulse to the development. The venture capital is a special investment and draw mechanism, which give a ideal platform for the development of the knowledge innovation and Hi-tech industry. Fore there more, it will drive the transform and upgrade of the industry, and realize the sustainable the economy.The venture capital is a new innovation tool which has special characters show three aspects: First, it can invent a form of venture capital mechanism to realize the venture project and form a project group to invent to in order to disperse the risk; Second, venture capital is a special invest and collect mechanism, it is not a fund debit but a legal rights investment, which purpose is to get a special profits; Third, venture capital is a kind of investment which combine fund with management.A serious question of Chinese economy development is the shortage of fund especially in the process of changing from traditional industry to new economy mode. With the development of the international economy and cluWs entry WTO, how to make full use of the venture capital is a important problem. Although the development of Chinese venture capital system has 10 years history, proper VC systems haven't built. The reason lie in three aspects: first, the venture capital law can't come up with the age; second, the venture capital system is not perfect; third, the institution of Hi-tech enterprise is not perfect.The thesis will, practically and theoretically, after analysis the world trend and current situation, includes environment and management are the most important element to affecting the developing speed of Chinese venture capital. From the macro graphical environment side and the emanation mechanism side, this thesis submits venture a whole cogitation of building and perfecting Chinese venture capital system and second board.Concerning the current situation of our country, this thesis researches how to build and perfect the management and transaction mechanism, and submits taking the limited partnership as the main form of venture capital fund, and building second board, and there is a in-and-out mechanism in the multiple-unit market.At last, this thesis submits, some suggestion for building the second board.