Research On Legal Obstacles To Withdrawal Of Internet Private Equity Financing Platforms In My Country

"The Internet private equity financing" is a new equity financing model,it is combined by the traditional private equity investment fund and the current Internet banking platform.Before 2005,the concept of'private equity financing"was often confuse used with other concepts.Until August 2015,Chinese ten ministries and commissions published"The suggestion of guidance,and The China banking regulatory commission published "Special inspection notice",these two papers define the concept of "equity raise" as"public offering to raise public equity",and make a concept distinction among "non public(private)equity financing","private equity investment fund raising behavior"and "public equity raise".Later,our financial industry unified use "private equity financing" to represent the internet of private equity investment.The rise of the model effectively relieve small and medium-sized enterprises financing difficult problems in our country,at the same time,it is meaningful to support of industrial economic development and the construction of a multi-level capital market system."Private equity financing" is a project that is consisted by investment-management-exit-reinvestment.Exiting is the key link to ensure the financial liquidity and the development of investment,and it is the basis of the next round of investment.However,there is a big blind spot in the exit mechanism of the traditional private equity fund,and there are many legal obstacles in the exit of the emerging private equity financing.The exit of Internet private equity financing not only includes the exit of traditional off-line industrial capital exit,but also includes the dropped out of platforms investors.So my paper focus the attention to analyzing the legal obstacles of traditional way out and summarize the existing legal barriers of private equity financing platform in our country.More importantly,my paper tries to put forward the corresponding solutions and explore new model and new channels by aiming at the existing internet exit of private equity financing platform.This paper is divided into four parts.The first part analyzes the core theory and development of China's private equity financing platforms and introduces common modes of private equity financing organization.By researching several large internet financing platforms in our country,The second part introduces the exit way of traditional private equity investment,and by analyzing laws and regulations of multi-level capital market at home and abroad,this part illustrates there still are large legal obstacles in this filed.The third part is based on the above analysis,analyzes the legal barriers of exiting in the field of private equity financing,and find some legal questions,such as lacking of legislation and low effectiveness,strong policy intervention,exit channel basis is still weak in the capital market,exit way is relatively single and so on.In the process of the exit,this financing model involves all kinds of effectiveness of the terms of agreement,however,but China's laws are lack of clear qualitative,it is harmful to rights and interests of investor and it greatly hinders the smooth exit of private equity financing platform.According to the above analysis,the fourth part puts forward the corresponding legal advice,including the construction and improvement of China's relevant laws and regulations and revision suggestions of relevant terms of the agreement.At the same time,author puts forward that China should pay attention to encourage the construction of multi-level capital market exit channel,attach great importance and improve the construction of non public shares of the company's equity trading market,includes the OTC market,regional property right transaction market,and this paper puts forward that China PE trading market is also an important channel of private equity financing exit.Finally,aiming at internet private equity financing platform's exit,when we formulate relative laws and regulations,we can learn from the "36 krypton" financing platform's "the krypton back" mode,it is a good way to regulate the exit of Internet private equity financing platform.