互联网股权众筹融资发展前景探析

Exploration on the Development Prospect of Internet Equity Crowd Financing

互联网股权众筹融资是一种面向大众的融资模式,具有一定的普惠性。然而,由于我国金融市场相关制度设计有待完善,股权众筹融资模式在相关法律体系、机构设置、市场条件等方面尚不成熟,一些具体运作机制与我国现行法律法规和金融体制相冲突,这使得众筹模式在中国存在发展瓶颈。如何发展适应我国国情的本土化股权众筹融资平台和模式,本文对我国股权众筹融资当前的发展现状和面临的瓶颈进行了分析,总结了各国发展股权众筹融资模式的历史经验,在此基础上提出针对性政策建议。

Internet equity crowdsourcing is a new financing mode,which provides an effective financing way for small and medium-sized start-ups.However,due to the immaturity of China’s financial market,the imperfection of relevant system design,the immaturity of equity crowdsourcing financing mode in the relevant legal system,institutional settings,market conditions and other aspects,some specific operating mechanisms are in conflict with China’s existing laws,regulations and financial system,which makes crowdsourcing mode encounter a major bottleneck in China’s development,and how to develop the capital adapted to China’s national conditions,localized equity crowdsourcing financing platform and mode is an urgent practical problem.This paper analyses the current development status and bottlenecks of equity crowdsourcing in China,summarizes the historical experience of various countries in developing equity crowdsourcing mode,and puts forward targeted policy recommendations on this basis,with a view to providing reference for relevant policies and systems.