我国风险投资业的发展现状、问题及建议

China's Venture Capital Investment: Current Status Analysis and Policy Implications

通过对我国风险投资发展现状的分析,本文从宏观环境和微观运营等角度,指出了我国风险投资发展中存在风险投资主体严重缺乏,投资规模较小,缺少风险投资运作的法律环境支持,参与各方对风险投资的认识和理念还不成熟,资本市场不完善和资本趋利的流动性不足制约风险投资的发展等问题,并提出了可供借鉴的国际经验及对我国风险投资发展的建议。

This paper analyses China＇s current status of venture capital investment market from both macro-environmental and micro-operational perspectives. The paper summarizes the problems and challenges of China＇s current venture capital investment market as follows： lack of investment entities, small size of investment, absence of legal environment and support, lack of awareness and biased understanding by the parties involved in the investment, immaturity of capital market, and short-term quick profit-driven operation. These problems have hindered the healthy development of the venture capital investment market. The paper suggests that a change of the understanding of the investment logic is needed and the international best practices and operations should be drawn for better improvement of the market.