Research On Comparison Of Withdrawal Legal System Of American And Chinese Venture Capital

In the past more than half a century, the economic development and the upgrading of the industrial structure has been greatly promoted in American-European countries. Since the venture capital industry was introduced in China,it has been slowly to develop and not play its rightful roles. China is in its economic transformation, the related system of market economy is still not perfect, the development of venture capital has been created a lot of obstacles by the legal system, and in the exit system there are many issues to be resolved. Now in the light of local conditions and drawing on the useful experience of developed countries, achieving a smooth mechanism of VC exit is a major issue for the development of the VC system. Introducing the legal system of American and Chinese Venture capital exit, this dissertation attempts to find the method of developing Chinese venture capital based on the comparison of the withdrawal mechanism of American and Chinese venture capital.The paper includes five chapters, as follows:The first chapter introduces jurisprudential analysis of venture capital from the concepts, functions, characteristics, mode of operation and the importance of venture capital exit and exit ways, made an overview of venture capital. The second chapter introduces the legal system of American Venture capital exit in detail. Then the paper discusses the various the legal system of Venture capital exit. United States initial public is the expositions focus of this part. NASDAQ market in the over-the-counter market of the United States has an important role. This article from the listing standards of the NASDAQ stock market, market maker system, a system of information disclosure, market regulatory system, market withdrawal system, five aspects are described in detail. In the third part, the paper introduces the legal system of Chinese Venture capital exit. This part writes Chinese Venture capital exit from the development of risk investment in China and China’s current situation of venture capital exit mechanism respectively, both on China’s legal system of venture capital exit deals.Article describes the latest development of Growth Enterprise Board. This is important for the development of China’s venture capital exit mechanism. The fourth part of the article, discusses the reasons for differences of American and Chinese venture capital exit system. And take a comparative study on American and Chinese venture capital exit system. In view of the initial public offering in the importance of venture capital exit mechanism, for Sino-US initial public offering of this section focuses on the differences in systems. In the last part, the thesis discusses the perfection of relevant legal system of China’s VC exit. This is also the main innovative part. Based on the latest development of Growth Enterprise Board, It still needs to revise the relevant laws and regulations. There are many imperfections in our public listings, mergers and acquisitions, buy-back, clearing the four ways of venture capital. In this section, I give my own proposals one by one.