A Study On The Supervision Of Private Equity Fund In China

After more than 30 years development,China's private equity funds are playing an important role in promoting the transformation and upgrading of the economy and enriching the financing channels for SMEs.Under the call of the State Council to “build a multi-level capital market”,“mass entrepreneurship,innovation” and “supply-side reform”,private equity funds have ushered in the “golden age” of development,financing scale and management.Indicators such as the number of people and products,and the scale of employees have reached record highs.However,while the industry is developing rapidly,it also exposes problems such as imperfect legal supervision system,unclear regulatory principles,lagging regulatory measures,and illegal fund-raising,which hinders the healthy and orderly development of the industry.At present,China's private equity investment fund industry is still in its initial maturity stage.It is of great significance to build a comprehensive and complete private equity investment fund supervision system to resolve systemic risks in the industry and maintain sustained prosperity.The paper is divided into six parts,the main contents of each part as follows:The first part is a basic overview of private equity investment funds.Based on the analysis of the concept of private equity investment funds,the definition and characteristics of private equity investment funds studied in this paper are clarified.Combining the current status of PE market business and the author's experience,this paper analyzes the characteristics of three organizational forms of PE.Furthermore,with the scale of PE management,the number of managers,the number of products,and the perfection of PE laws and regulations,China's private equity investment funds are divided into three stages,and the development of China's private equity investment funds at various stages is explained accordingly.The second part is the research on the status quo of private equity investment fund supervision.This chapter analyzes the legal basis of PE supervision in China,and systematically expounds the main body of supervision,the object of supervision,the mode of supervision,the content of supervision and the principle of supervision.The third part takes the case of the three private equity funds in serious crisis as examples.Starting from the basic situation of the case,studying fund raising,management operation,information disclosure,compliance control,self-regulation,etc.The problems exposed by the cases,and use this as an entry point to analyze the problems existing in China's private equity investment funds in terms of legal supervision system,qualified investor system,and choice of supervision mode,and analyze the problems one by one.The fourth part is the analysis of the regulatory path of private equity investment funds.Based on the analysis of the above cases and regulatory reasons,the corresponding improvement measures are proposed from the aspects of constructing the legal system and supervision system of private equity investment funds.