Research On Information Disclosure Of Private Equity Fund In China

Private equity fund is a financial product engaged in private equity investment,operated by investors,managers and enterprises.Private equity in China has been developed for 30 years,and gradually become one of essential character in Chinese capital market and industrial investment market,effectively boosts Chinese financial market and social development.However compared with the developed private equity funds in the United States,Britain,private equity funds in China still has a long way to go on legal issue and on Supervision.Due to the character of private investment,the competitiveness of the market,confidentiality and other characteristics,private equity funds in specific practice inevitably has negative effects and potential risks.Therefore disclosure of information is fatal for all parties in private equity funds.Strengthen the supervision and the related legal issue is inevitable.This dissertation first explains the concept of private equity fund,organizes the development history of Chinese private equity fund and the status of legal supervision,clarifies the origin of the information disclosure system,theoretical basis and basic principles of private equity funds such as the basic theory of information disclosure.Secondly it reviews the development process of information disclosure system of Chinese private equity funds from foundation to establishment,and expounds the application of information disclosure in the establishment stage and operation stage of private equity fund.Thirdly the author deeply analyzes the main problems of information disclosure of private equity funds in China,which is mainly reflected in the dilemma of information disclosure under the operation of the division of business,that is,the contradiction between the long supervision,the content of the information disclosure is not suitable for the investors;the lack of information disclosure,the existence of registration information fraud and selective disclosure of information and other issues;violation of the responsibility of the information disclosure system is not implemented,there is no clear legal liability,punitive measures are not effective,the legal requirements of the industry and so on.Fourthly,based on the reality that private equity funds in developed countries such as the United States or the United Kingdom develops relatively early,the information disclosure system is relatively mature.China could learn from their private equity funds information disclosure system and actively refers to Chinese conditions and characteristics.Find the perfect private equity fund model for China.Finally,the author propound some suggestions on perfecting the information disclosure system of private equity funds in China,which are,first the scientific information disclosure system,second the establishment of the system of regulatory mechanism,and the other is to improve the existing legislation of private equity funds.Strives to standardize the market order,protect the legal rights and interests of investors,and promote the healthy and orderly development of Chinese private equity funds.The information disclosure system of private equity fund should be perfected in order to achieve long-term supervision,regulate the market order and protect the legal rights and interests of investors.Only by doing this can all parties have the feeling of gain so as to promote the development of private equity fund steadily and orderly in China.