Research On The Regulation Of Equity Crowd-funding Of Chinese Government

In recent years,as China's economy has entered the "new normal",Internet technology has developed rapidly in China.Internet finance is an organic combination of information technology and traditional finance,which jointly promotes the development of China's economy.On the basis of traditional finance,Internet finance has spawned many new financial service businesses,such as Internet banking,Internet insurance,P2 P,equity crowdfunding and so on.Among them,equity-based crowdfunding is one of the typical representatives of Internet finance and an important part of emerging Internet financial services.With the emergence and rapid development of equity-based crowdfunding,it has brought people a series of advantages such as low threshold,low cost and high yield,and gradually replaced the traditional financing,becoming an innovative financing method welcomed by the masses.However,equity-based crowdfunding has also brought many crises to people's lives,which has been questioned and controversial.Therefore,it is very necessary for the "visible hand" of the government to regulate equity-based crowdfunding.How to give full play to the government's role should be paid more attention to by scholars at home and abroad.The report of the 19 th national congress of the communist party of China(CPC)in 2017 will take "transforming government functions,deepening administrative streamlining and delegating power,innovating ways of supervision,enhancing government credibility and execution,and building a service-oriented government that the people are satisfied with" as the overall goal.Thus it can be seen that the government will innovate the way to regulate various aspects.As a new important financial service business,equity-based crowdfunding should be paid more attention by relevant government departments.However,the regulation of equity-based crowdfunding by the Chinese government is not mature yet,and there are still some problems to be solved urgently.Through literature research,comparative analysis and case analysis,this paper makes an in-depth analysis of the current situation and existing problems of the Chinese government's regulation of equity-based crowdfunding,and proposes solutions.Starting from the analysis of the background of the emergence and development of equity-based crowdfunding in China,this paper analyzes the risks of equity-based crowdfunding and the necessity of the government's regulation of equity-based crowdfunding by comparing the current situation of the domestic and foreign governments' regulation of equity-based crowdfunding.At the same time,relevant concepts and theoretical basis are mainly elaborated,including the concept of crowdfunding,the concept of equity-based crowdfunding and the concept of government regulation.In the concept of equity-based crowdfunding,the main body,process and characteristics of the participation of equity-based crowdfunding are introduced,as well as the theoretical basis used on this basis.Secondly,it focuses on the analysis of the development process of equity-based crowdfunding,regulatory institutional environment,regulatory system,regulatory laws and regulations and regulatory methods.Finally,through the analysis and reference of the practice and experience of the American and British governments on the regulation of equity-based crowdfunding,combined with the actual situation in China,the countermeasures to solve the problems are put forward in five aspects,namely,the supervision concept,institutional environment,supervision system,laws and regulations and supervision mode.