Research On Legal Issues Of Equity Crowdfunding Under The Innovation-Driven Development Strategy

In 2019,the State issued the document "Guiding Opinions of the State Council of the Communist Party of China on Supporting the Comprehensive Deepening of Reform and Opening Up of Xiong'an New District in Hebei",which mentioned "equity crowdfunding" in the financial field.The document states that on the basis of the existing financial asset trading platform and other infrastructure,it plans to build the Xiong'an Equity Exchange and support financing innovative businesses such as equity crowdfunding.Orderly advancement of cutting-edge research results in the field of fintech has taken the lead in the Xiong'an New District,building a high-standard,high-tech fintech center.At present,the state encourages the opening of public equity crowdfunding from the Xiong'an New District.It is even more urgent to improve relevant laws and regulations and strengthen the supervision of intermediary institutions to monitor financial risks.If this country is similar to "sandbox management",if it is successful in promoting financial innovation and promotion,it can greatly promote the development of China's financial industry,and at the same time,it can promote the transformation and upgrading of the service industry,information industry and high-tech industries.Ensuring the full flow of social capital is also a big leap in China's equity crowdfunding industry and determines the direction of regulatory policies.The legal regulation of China's equity crowdfunding is at the key point of improving the exemption mechanism for private equity crowdfunding and changing the regulatory mechanism after cemetery crowdfunding.With the launch of the equity crowdfunding pilot in Xiong'an New District,various legal system limitations and deficiencies will be further exposed in subsequent practice.Under the new situation,national policy support and infrastructure construction and improvement will be provided to equity crowdfunding.The development of financing provides a more favorable environment,and related technological developments provide more possibilities for financing models.Based on the current situation of the development of equity crowdfunding in China,the lack and contradiction of legal norms and systems,this article lists the obstacles and legal risks faced by equity crowdfunding in the actual operation process.Based on foreign development experience We have explored and considered the legal regulations and operating models of China 's equity crowdfunding development,in order to help develop legal specifications and institutional systems for equity financing that are suitable for China 's national conditions.