| In recent years, the local governments have introduced relevant policies and set up a special fund by actively boosting national policies. The role of the government Venture Capital Fund guidance, capital accumulation and industrial restructuring have been into prosperity. In July 2008,Wujiang was the first to set up a total size of 200 million yuan of the district-level Venture Capital Fund in Jiangsu province. In fact, Wujiang government venture capital fund investment and financing practices are only in its infancy. There are still many deficiencies. In this paper, it starts with the theory of government guidance funds, a brief analysis of the effectiveness of the operational status of the Wujiang guidance fund and points out that the current mode of operation and the main problems. On this basis, the analysis draws on domestic and foreign venture capital fund to guide the successful operation of the Fund which proposed the Wujiang guidance mode of operation optimization.This thesis is divided into six parts. The first chapter is an introduction which summarizes the research background, purpose, research methods and research situation at home and abroad. It provides a clear study which guides government venture capital fund for China’s sustained economic growth, SME survival and development and the importance of building an innovative country macroeconomic strategy. The second chapter defines theoretically the concepts of venture capital and government venture capital fund.it clarifies the need for the establishment of the Fund’s guidance and a detailed discussion of the current mode of operation at home and abroad to guide the Fund. There are three main types:equity model, model of financing guarantees and diverse support model. The third chapter introduces a detailed description of the operational status of the Fund in Wujiang from the basic social and economic situation in Wujiang District. On this basis, it gives a comprehensive analysis of the current operation mode and points out the effectiveness of its operation and the main problem s and SWOT analysis matrix. It proposes countermeasures in different situations for the operation modes of government guidance funds of Wujiang which optimize the overall direction of research. The fourth chapter analyzes cases for government guidance funds from Israel, the US, Britain Shanghai, Shenzhen and Suzhou. It provides a reference for the optimization of Wujiang fund mode of operation. The final chapter is the conclusion which summarizes the whole thesis.This paper argues that the optimization of Wujiang government venture capital fund operations and industrial development should be characterized by a combination of Wujiang. In terms of operating system, it is recommended to optimize the adjustment mode and investment guidance fund investment ratio which is adjusted to 50% of the capital and subordinate towns(district) venture Capital Association to establish a partnership fund, and the other 50% of the funds, on the basis of operating at home and abroad to fully draw diverse ways "international FOF+ local LP", trusts, and other financial guarantees. Based on the well-known investment institutions outside the Wujiang District, various types of professional funds have been set up. In terms of management mechanism, we proposed the establishment of market-oriented management institutions for the guiding funds. State-owned shares accounted for 50%, in the form of "mixed ownership" restrictions on institutional mechanisms breakthrough. In terms of monitoring mechanisms, Administration Committee recommended the establishment of various government departments, and increase monitoring efforts to guide the Fund. Finally, it provides views and suggestions to I improve the operation mods for the guiding fund and further enhances the efficiency of the Fund’s guidance and service Wujiang economic transformation and upgrading. |
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