中国私募股权基金问题研究

Study on China Private Equity Fund

私募股权投资作为一种金融创新,是以非上市企业股权为主要投资对象的一种投资方式,它的运作载体就是私募股权基金。私募股权基金作为金融中介工具,开辟了不同于银行和股市的直接投资渠道。私募股权投资对促进产业结构调整、培育多层次资本市场、降低金融风险、促进高新技术产业发展等,都有重大作用。但是,私募股权投资在我国仍徘徊于合法与非法的边缘,私募股权投资发展缓慢,与我国多年来持续快速增长的经济不相称,不利于提高资本市场的资源配置能力和风险分散能力,不利于产业创新和转型。在我国当前存在融资格局不够优化、资本市场层次不丰富、中小企业融资困难等问题的大背景下,对私募股权基金进行深入分析,无疑具有重要的意义。

Private Equity Investment is a financial innovation under new economic situation, which highly contributes to the cultivation of multi-hierarchy capital market, the reduction of financial risk, and the promotion of hitech industry. However, Private Equity Investment develops very slowly in China, contrasting to the rapid growth of Chinese economy, making against the enhancement of power of capital allocation and decentralization of risk, making against industry innovation transition. It is no doubt of great significance that to fund in-depth analyses the Private Equity in the backdrop of China's current excess liquidity, financing pattern of inadequate optimization, and the capital market level is not rich, and other issues.