The Research Of Operation Mode Of Shanghai Jing'an Government Guiding Fund

This thesis analyzes the basic circumstance of government guiding fund. Recently, establishing local government guiding fund becomes a hot trend sweeping across the country. Establishing local government guiding fund and thereupon facilitating a broad platform which realizes a synergy between development of venture capital industry and that of small-and-medium-sized enterprises, has evolved into one of the efficient approaches to promote development of local industry and enhance efficiency of government investment. On the international arena, government guiding fund widely employed as an effective measure to support development of venture capital industry. Currently, Shanghai Development and Reform Commission has been formulating Interim Administrative Measures for Venture Capital Guiding Fund of Shanghai (Comments to be received). Jing'an district has also been engaged actively in the process of establishing a government guiding fund. Based on case study of domestic and overseas guiding funds, this paper provides an overview of operation modes of existing government guiding funds, from which Jing'an district might take a leaf; proposes two tentative schemes for Jing'an government guiding fund in view of industry layout and characteristics of Jing'an district; conducts a comparative analysis,and, gives out suggestions with regard to aspects of risk control and government role in the two above-mentioned schemes. As a application, this paper might contribute to formulating supporting policies for Jing'an government guiding fund. This paper is divided into five parts. Chart one is introduction, which discusses research motivation, research objective, research method as well as theoretical and practical importance of the paper, and current research achievements in the field on domestic and overseas arena. Chart two conclude the theory of government guiding fund. Chart three provides a comprehensive analysis of existing government guiding funds, looking into overseas and domestic cases respectively, in particular, cases of America, Israel, Australia, Finland, etc., and those of Beijing, Shanghai, Shenzhen, Suzhou, etc., and summarizing their characteristics to draw potential lesson which Jing'an government guiding fund might benefit from. Chart four focuses on the research of operation mode for Jing'an government guiding fund. Based on analysis of industry development characteristics of Jing'an district, this part analyses the Strengths, Weakness, Opportunities, Threats of Jing'an government guiding fund, discusses establishment motivation, general principle and organizational form of Jing'an government guiding fund. Chart five proposes two tentative schemes; probes into their respective features in aspects of investor, scale, principle, organization structure, operational process, policy basis and risk control; and finally point out which is the better choice. The last chapter has summarized for closing to the whole paper.This paper argues that the research on operation mode of Jing'an government guiding fund should be combined with the Jing'an industry development characteristics. Referring to "FOF" experience, through the transformation of government role, through strengthening access control mode, screening famous internationally FOF management team,"International FOF + Jing'an LP"operation mode will be the better choice for both government guiding fund amplification and industrial guidance.