Research On Legal System Of Supervision To Venture Capital Guiding Funds

On 5th March,2017,Prime minister Li Keqiang put up with the idea in the government work report in 2017 that improving supply-side structure should be regarded as main direction;continually arousing micro main vitality,reducing ineffective supply,enlarging effective supply,as well as meeting and guidance the demands better should be done by streamlining administration and reducing tax,expanding market access and encouraging innovation.It shows the thoughts change of the government administration from demand-side to supply-side.To deepen the reform of supply-side structure,innovation and development ought to be recognized as the first force.Innovation and entrepreneurship take more risks than other investments.For a long time,the financial capital of government has been mainly distributed administratively and the effectiveness of supporting enterprise's innovation has been limited.However,setting up investment guidance fund has changed the form of traditional fiscal expenditure,which means the way of free subsidy has transformed into financial investment guidance fund,which attracts funds lying in society to form a capital pool,and gets involved in the developing plan of national emerging industry to promote people's innovation.At present,the development of fund guidance in our country has gained a great achievement,which has guided 140 billions social capitals to the small and medium-sized enterprises that are in the beginning period in emerging industry,and has reached the magnification of 1:10 in government finance,and then a more ideal effect can be expected.But it's important to emphasize that several problems have caused by inadequate supervision when the central government and governments at all levels rise guidance fund boom.To better bring this fund's guidance superiority into full play,achieving the policy goal of the rationalization of adjusting industrial structure and perfecting the laws and regulations of guidance fund is the urgency and necessity.Besides preface and conclusion,the thesis is divided into four parts.The first part is investment guidance fund and its supervision.It firstly does some general description of the definition,background,development and function of the fund.Then the necessity of supervision is discussed according to the nature and purpose of guidance fund,meanwhile,special needs on its supervision will be confirmed.The second part is the current situation and problems of laws and regulations on the guidance fund supervision in our country.By analyzing the problems of laws and regulations on the guidance fund supervision of three stages,the author thinks that the problems appearing in guidance fund supervision in our country are as follows: there are no uniform laws and regulations;government playing itself on a wrong role in the supervision period makes difficulties in its supervision;there is no uniform supervision system;the way and form to guidance fund is too simple;the professional talents and effective evaluation system are absent.The third part is the extraterritorial inspection of the supervision system of guidance fund.The laws and regulations of guidance fund supervision in the Britain,the United States and Taiwan Province in China,which is formed from the long-term practice and more thorough than that in China,have been investigated in this part.By comparing and analyzing the supervision model of government regulation,the autonomic supervision model of fund industry,as well as the supervision model which is combined with the former two models,the advanced experience of extraterritorial guidance fund supervision is concluded,at the meantime,the view that the supervision model should be chosen and the basic supervision principles should be established through combining the economic conditions with its development levels is proposed.The forth part are suggestions to perfect the supervision laws and regulations of guidance fund of capital investment in China.That the the precondition of effective supervision on fund is clearly defining the supervision objective,supervision principles and supervision model is proposed in this part.Therefore,defining supervision subject and making supervision target,content and means standard should be done to systematically complete and perfect the supervision laws and regulations of guidance fund in China.