从美国风险投资业的发展看中国风险投资退出机制之完善

The Perfection of the Risk Investment Withdrawal Mechanism in China Seen from the Development of U.S. Venture Capital Industry

风险投资退出机制是风险投资的一个最关键环节。本文以美国风险投资业发展的成功经验为借鉴,针对我国风险投资退出运行机制的现状,提出应建立我国第二板股票市场,鼓励收购、兼并风险企业,充分利用香港及海外第二板股票市场,开启新的退出渠道等措施,健全我国风险投资退出机制。

The risk investment withdrawal mechanism is the most key link. In view of the current situation of operating mechanism to the risk investment of our country and regarding successful experience of development of U.S. venture capital industry, some measures are proposed： such as setting up the second board stock market, encouraging utilizing Hong Kong and the overseas second purchase and annexation of the risk enterprises, fully board stock market, starting new withdrawal channel, etc. , for perfecting the risk investment of our country and withdraw from the mechanism.