Study Of Chinese Private Equity Fund Regulatory Regime

The private equity investment fund(PE) has been receiving more and more attention since the establishment of Growth Enterprises Market and the IPO of dozens of companies. In the adverse credit environment, many small and medium-sized enterprises found a new financing channel to raise money. Now more and more enterprises start introducing private-equity fund to help them to develop better. In the process, some enterprises make huge achievements-enterprise, private equity fund company and investors made huge gains while others are facing bankruptcy risk-the three parties lost their shirts. Although the PEs develop very fast in China, the regulation system about it has moved little. It goes against with the healthy development of PE to some degree.Based on the analysis of PE definition, development situation and the necessity of supervision, the essay discusses the subject, the object and the main contents of the regulatory referring to the regulatory systems of the developed countries. At last it makes some suggestions on the regulatory of PE in order to protect investors better, maintain the stability of Chinese capital and promote the development of PE.The full text is divided into five chapters: The first chapter introduces three parts: the definition, present situation and necessity of PE. It is a detailed description about the basic theory of PE. The second chapter mainly analysis the present regulatory situation, the functions of outside supervision body and the model China can choose. At the same time it slightly involve the inside supervision system. The third chapter focuses on the private equity funds'regulatory object. It discusses from fives aspects: investors, the fund managers, enterprise endowed by PE company, intermediary agencies and industry associations. The fourth chapter analyses the main content of the private equity fund supervision, mainly from funding sources, the establishment and organizational form, filing system and approval system, the exit mechanism and other important fields. The fifth chapter makes the conclusion of the whole text: we should stick to the principles of moderate supervision, supervise all kinds of legal relations of PE and put more efforts on the important ones through the cooperation of national public power of supervision and self-regulatory organization.