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Study Of China's High-tech Venture Capital Legislation

Posted on:2008-04-05Degree:MasterType:Thesis
Country:ChinaCandidate:H B ShenFull Text:PDF
GTID:2206360215960538Subject:Economic Law
Abstract/Summary:PDF Full Text Request
Venture Capital is that investing in the initial stage and withdrawing the capital after the firm is relatively mature. In order to achieve high receipts, it will input by the form of equity capital into shape through the market mechanism. High-tech Venture Capital is a combination of growth potential and risk, because the technology and the market often enormous risk of failure.Venture Capital has growed since 1940s In the USA, and has been recognized as innovative growth of enterprises "engine" after about 20 years of rapid development. Its source includes private capital, public pension funds, insurance companies, donations, and angel investors. Because of its extremely return, the size of venture capital growled rapidly in recent years, of course it is good to the innovative enterprise. It is not suitable to evaluate weather it is successful or failed just from the impact in overall economic .From the specific operational efficiency, the venture capital change thousands of new creative culture into commercial activities every year.Because most of the high potential enterprises concentrate in the high-tech field, the venture capital is closely to the high-tech projects. Whether it is developed or developing countries, high-tech industry plays a very important role in economy Thus, the financing becomes a key problem for the development of these industries.It is the only way to develop China's high-tech industry in future. The venture capital has developed rapidly since the last century 1980s when have proposed the development of venture investment. But we should also see the obvious gap contra to developed countries China's high-tech industries continue to show a trend of rapid development during "11th Five-Years Plan" period, especially biotechnology industries, new materials industries, and other strategic emerging high-tech industries. This has served to highlight the value of the high-tech venture capital and its significance, also implied that formulating and improving relevant laws and regulations become an inevitable trend.The paper is divided into five parts. Part I is about the basic question of High-tech and Venture Capital. This part described the Concept, Features, the operating mechanism and why the international sociaty have done their best to develop the Venture Capital.Part III is about the exposition of the major countries. Though the analysis of the existing laws and regulations on the subject, incentive systems, finance, regulatory and channels,.Part IV specified that it have existed many obstacles in legal aspects. Part IV expounded the legislative proposals in the analysis of Part IV.Through drawing the experience of major country in the word and deep analysis of China's high-tech Venture capital legal environment, also based on the new revised "Company Law", "Partnership Enterprise Law" and other relevant regulations, the papers analyzed the obstacle and raised my ideas on construction of the legal system of China's high-tech Venture Capital.
Keywords/Search Tags:High-tech, Venture Capital, Second Board Market
PDF Full Text Request
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