Study On The Exit Way Of Private Equity Funds In China

With the development of China's economy,the private equity investment fund has also developed rapidly.The private equity market has become the third largest financing channel except for banks and other IPO enterprises,which has brought economic support to the financing of small and medium-sized enterprises.It not only enhances the service capabilities of new industries,small and medium-sized micro-enterprise,but also helps to promote innovative enterprises and economic restructuring and upgrading,driving the development of the direct financing and capital market.Private equity's operations include: fund raising,investment,management,exit four sections.The four sections are interlocking,and each step is the starting point of the next operation,and the exit is the link of the proceeds and the most important link.Therefore,this article chooses the exit as the key research object.In the present paper,through the first way to compare the various exit ways of PE,we conclude that we must choose the exit channel according to the surrounding environment.Currently,IPO's rate of return on investment is still the highest,which is still the PE's favorite exit,the National Equities Exchange and Quotations since 2014 expansion,investment Scale and investment cases explosively grow,becoming the most popular way to exit for PE,and with China's M & A market is sound and perfect,mergers and acquisitions is the most mainstream way to withdraw in the future.Secondly,we combined with the latest data using the form of charts and tables to analyze the current situation,the theory with practice,in-depth analysis of China's private equity market out of the problems and many imperfections.With the SCC IPO exit Beida pharmaceutical and 2015 PE is one of the best cases out of ten co-win exit the Zhongankang case,which is used to analyze the choice of the ways of exit in the actual circumstances.We put forward advice of perfect laws and regulations,establishing a multi-level capital market,improving the intermediary and speeding up the PE secondary market construction and attracting talented people.