Study Of Developing Venture Capital Industry Of China

The contemporary economy is knowledge economy represented by industrialization of technology. The international competitiveness of any country or enterprise all depends on its level of R&D and application of technology. As capital is the key factor in the innovation and industrialization process of new technology, the research and development scale and speed of technology mainly are decided by the capital invested, and the application and spreading of technological achievements need even more capital. Venture capital, as a capital form that specialized in investment in risk projects, plays a more and more important role in developing and nursing technology industry abroad, and especially so in US, which has greatly promoted the development of US economy. In order to speed up the industrialization of new technology, change our disadvantaged position in the international division of industrial chains and realize the target of prospering our country by utilizing technology, we need to further strengthen the study of venture capital to make it play a more important role in the industrialization process of technological achievements. This thesis introduces systematically the concept and function of venture capital, its emergence and development, its working process and pattern, then introduces the history, development and successful experience of venture capital industry in US and several other developed countries. After introduction of the present status and development of venture capital industry of China, the paper makes a helpful effort to analyze and discuss the problems the industry is facing in China and its reasons under the background of changing of China from Planned Economy to Market Economy and China Joining WTO, then offers countermeasures as how to promote the development of venture capital industry in China by learning from successful experience of abroad in developing venture capital in their own countries. This thesis consists of five parts:The first part is contributed to the introduction of venture capital, including the meaning, emergence, development, working process and function of venture capital. The second part concentrates on the history, development and successful experience of venture capital industry in several developed countries, especially US, and mainly introduces the characteristics of the venture capital industry of US from the aspects of capital resource, organizing structure, projects choosing, working pattern of venture capital entity and exiting mechanism.The third part introduces the present status and development of venture capital industry of China under the background of changing of China from Planned Economy to Market Economy and China Joining WTO. In contrast with the detailed measures that China has already taken, it analyzes and discusses the main problems the industry is still facing in China in all aspects in reality and its reasons in details. The next part mainly analyzes and discusses the countermeasures China can take in...