Study On Localization Development Of Crowdfunding In China

Under the background of the public entrepreneurship and innovation,crowdfunding,as a representative of the Internet financial innovation,has brought new opportunities for innovation and entrepreneurship.It has been an effective channel for communicating finance and real economy.Since it had been brought into China in2011,crowdfunding has solved lots of financing problems for start-ups and SMEs,achieving precise docking of private capital and start-up projects.However,due to the different political,economic and cultural systems at home and abroad,the development of domestic crowdfunding should not completely copy the foreign models.It's to very necessary to explore our own way of localization development for crowdfunding.The domestic development of crowdfunding is very uneven in geographical distribution,considering the total successful fund-raising amount of Beijing,Shanghai,Guangdong,Jiangsu,Zejiang and Shandong has accounted for 91% of the whole country,while the total fund-raising amount of the rest more than 20 provinces and regions only occupied less than 10%.The crowdfunding development of Fujian Province ranks top among the remaining twenty-one provinces.And the GDP of Quanzhou in 2016 has ranked first in Fujian province.Quanzhou has developed private economy,flourished cultural industry and nice innovative atmosphere,which is suitable for crowdfunding development.However,Quanzhou's crowdfunding development is still in the embryonic stage.Therefore,the research on the localization development of crowdfunding in Quanzhou is of great significance to small and medium sized cities of our country.Beginning with the current situation of crowdfunding development in China and Quanzhou,this paper has divided domestic and Quanzhou's developing courses of crowdfunding into several stages,and analyzed its developing structure and environment.By comparing Chinese and American ways of crowdfunding,some localization characteristics of crowdfunding have been figured out.Finally,in order to handle the phenomenon of frequently occurred problems in crowdfundingplatforms and industry reshuffle since 2016,some very targeting suggestions have been raised based on the analysis of root causes to the problems.Meanwhile,according to the developing characteristics of Quanzhou crowdfunding in embryonic stage and taking Huaqiao Crowdfunding Platform as main object for study,some realistic problems existing in localization development of crowdfunding in small and medium sized cities have been analyzed specifically,and therefore proposed that the key task for developing crowdfunding in small and medium sized cities is to cultivate local markets for crowdfunding.