The Research On The Perfection Of Qualified Investor System Of Private Equity Investment Fund In China

In recent years,SMEs' financing problems are still not resolved and the public investment channels are limited,facing with economic restructuring,industrial restructuring.Private equity market has been rapid development,by virtue of the efficient financing,advanced management concepts and considerable profits and other advantages.Among them,the development of private equity funds is particularly interesting.The orderly development of the private equity fund market will help to improve the capital market system and the efficient circulation of capital;help the investors to expand their investment channels and promote the formation of the concept of healthy investment;help to improve the financing of SMEs Efficiency,reduce financing costs,promote the development of the real economy;contribute to the "public entrepreneurship,innovation" concept to achieve.However,due to China's private equity investment fund-related regulatory system is still lagging behind,especially the lack of qualified investor system led to qualified investors review process become formalized,and part of the non-qualified investors into the private equity fund market,facing greater risk;Simultaneously,there are also unethical risk ? the risk of illegal fund-raising,etc,which seriously disrupt the market order and damage the interests of investors.In this case,how to improve the qualified investor system,so as to better safeguard the interests of investors and ensure the steady development of private equity fund market,is an important issue we are facing.The main body of this article is divided into three parts:The first part introduces the concept and classification of the private equity fund.Secondly,it draws out the concept of the qualified investor,analyzes from the three levels of definition,classification and developmen.Finally,the significance of perfecting the qualified investor system of private equity investment fund is expounded from the perspective of protecting the interests of investors,improving the financing efficiency and perfecting the capital market system.The second part analyzes the problems of qualified investor system of private equity fund.First of all,it sorts out the current system of qualified investors from the legal,departmental rules and industry norms.Secondly,it puts forward the problems of qualified investor system,such as : the legislative level is too low and lacks the refinement of the operating norms,the standard of qualified investors is unreasonable,and the system which used to punish the dishonest investors is not set up.It particularly clear that regulations about the minimum amount of investment,the quantity of objects and ignoring the debt situation,are too mechanical,and it will lead to inaccurate judgment of the wealth;Finally,it analyzes the reasons for the above problems.The third part tries to put forward the concrete countermeasure to improve qualified investor system in China's private equity fund market on the basis of the introduction of the qualified investor system in USA,United Kingdom and Japan.At the end of this article,it gives some countermeasures to improve the policy of the qualified investor system in China's private equity investment fund : balancing the regulation of protecting the interests of investors and the financing of companies;establishing a scientific regulatory system;setting up an reasonable judgment of the qualified investors from qualitative and quantitativeway;etc.In summary,this article gives the analysis from the basic concept introducing,the existing system combing,the problem analysis,foreign model summarizing and countermeasures suggesting,and gives some countermeasures to perfect the qualified investors system in China's private equity investment fund.