關(guān)于設(shè)立濰坊濱海產(chǎn)業(yè)投資基金有關(guān)問題的研究
發(fā)布時間：2018-08-05 11:22
【摘要】：產(chǎn)業(yè)投資基金是一個中國特有概念,國外通常稱為風(fēng)險投資基金(Venture Capital)和私募股權(quán)投資基金(Private Equity),一般是指向具有高增長潛力的未上市企業(yè)進行股權(quán)或準股權(quán)投資,并參與被投資企業(yè)的經(jīng)營管理,以期所投資企業(yè)發(fā)育成熟后通過股權(quán)轉(zhuǎn)讓實現(xiàn)資本增值。 產(chǎn)業(yè)投資基金是解決企業(yè)融資難的一種現(xiàn)實途徑,可以很好地解決非上市企業(yè)快速發(fā)展的資金問題。在當(dāng)前貨幣政策背景下,銀行將進一步收縮信貸規(guī)模,提高信貸“門檻”,許多企業(yè)特別是中小企業(yè)獲得信貸支持的難度加大,企業(yè)融資成為制約經(jīng)濟可持續(xù)發(fā)展的“瓶頸”。產(chǎn)業(yè)投資基金可以發(fā)揮其中介作用,以直接股權(quán)投資的形式為未上市的企業(yè)提供融資,降低企業(yè)的負債比例,改善企業(yè)的經(jīng)營環(huán)境,是當(dāng)前形勢下拓寬企業(yè)融資渠道的一種理想選擇。 從法律環(huán)境來看,1995年9月中國人民銀行公布的經(jīng)國務(wù)院批準的《設(shè)立境外中國產(chǎn)業(yè)投資基金管理辦法》,是至今中資機構(gòu)在境外設(shè)立中國產(chǎn)業(yè)投資基金的主要依據(jù)。對在境內(nèi)設(shè)立產(chǎn)業(yè)投資基金,國家發(fā)改委于1999年就開始討論、2001年11月起草完畢的《產(chǎn)業(yè)投資基金管理暫行辦法》雖然至今沒有出臺,但是有關(guān)內(nèi)容也將是今后《股權(quán)投資基金管理辦法》和《試點地區(qū)股權(quán)投資企業(yè)管理辦法》的基礎(chǔ)。而新《公司法》、《證券法》和《合伙企業(yè)法》等法律的修訂,也為國內(nèi)產(chǎn)業(yè)投資基金的設(shè)立和運營提供了法律依據(jù)和框架,使產(chǎn)業(yè)投資基金具備了清晰的法律地位。 國家級濰坊濱海經(jīng)濟技術(shù)開發(fā)區(qū)位于濰坊市北部,渤海萊州灣南畔,處于環(huán)渤海經(jīng)濟圈和黃河三角洲的交匯點。目前正在高標準提升完善“一城四園”的規(guī)劃布局,積極培育壯大七大新興高端產(chǎn)業(yè),加快建設(shè)設(shè)施配套、功能完善、產(chǎn)業(yè)發(fā)達、生態(tài)良好、宜居宜業(yè)的充滿發(fā)展活力、富有獨特魅力的現(xiàn)代化、國際化高效生態(tài)濱海新城。新城的建設(shè)和當(dāng)?shù)匦屡d企業(yè)的發(fā)展最離不開資金的支持,產(chǎn)業(yè)投資基金的設(shè)立可以通過政府的資金和土地等資源作為引導(dǎo),將珠三角、長三角乃至國外發(fā)達地區(qū)的富余資本吸引聚集到開發(fā)區(qū),從而推動當(dāng)?shù)亟?jīng)濟社會的又好又快發(fā)展。 鑒于以上所述,濰坊濱海經(jīng)濟技術(shù)開發(fā)區(qū)管理委員會與中科宏易創(chuàng)業(yè)投資管理集團協(xié)商一致,擬共同出資在開發(fā)區(qū)設(shè)立濰坊濱海產(chǎn)業(yè)投資基金管理有限公司,公司設(shè)立后主導(dǎo)設(shè)立濰坊濱海產(chǎn)業(yè)投資基金,基金下設(shè)新能源科技產(chǎn)業(yè)投資基金、現(xiàn)代服務(wù)業(yè)投資基金和科技創(chuàng)業(yè)投資基金三個子基金。 此前,經(jīng)國家發(fā)改委以特批的方式報國務(wù)院批準試點的產(chǎn)業(yè)投資基金己達10只,如渤海產(chǎn)業(yè)投資基金、廣東核電新能源基金、東北裝備工業(yè)產(chǎn)業(yè)投資基金等。自2008年發(fā)改委對產(chǎn)業(yè)投資基金的管理由“審核制”改為“備案制”后,在國家發(fā)改委備案的市場化產(chǎn)業(yè)投資基金已達到22家,如鼎暉、華人文化、中科招商等。2010年,國家發(fā)改委又先后批準重慶和山東分別籌建重慶物流產(chǎn)業(yè)投資基金和黃河三角洲產(chǎn)業(yè)投資基金。另外在本論文寫作期間,山東省也頒布了《關(guān)于促進股權(quán)投資發(fā)展的意見》和《關(guān)于加強股權(quán)投資類企業(yè)備案管理工作的通知》。這些都為濰坊濱海產(chǎn)業(yè)投資基金的設(shè)立提供了參考依據(jù)和方法經(jīng)驗。 雖然濱海產(chǎn)業(yè)基金下步的具體實施可能由于各種原因會比較漫長而復(fù)雜。但是,隨著我國經(jīng)濟發(fā)展對產(chǎn)業(yè)投資基金的迫切需要,國家發(fā)改委和證監(jiān)會等監(jiān)管部門正在加快出臺有關(guān)產(chǎn)業(yè)投資基金的管理辦法,國家和地方各級政府也紛紛從各自角度出臺促進產(chǎn)業(yè)投資基金發(fā)展和創(chuàng)新的政策意見。因此我們相信在不遠的將來,濰坊濱海產(chǎn)業(yè)投資基金也將很快解決各種問題并在濱海新城的建設(shè)中發(fā)揮其巨大作用。 本文旨在通過第一章對產(chǎn)業(yè)投資基金理論的綜述和第二章對國內(nèi)設(shè)立產(chǎn)業(yè)投資基金依據(jù)的分析,在第三章結(jié)合對濰坊濱海經(jīng)濟技術(shù)開發(fā)區(qū)規(guī)劃、發(fā)展等方面的研究,分析設(shè)立濰坊濱海產(chǎn)業(yè)投資基金的必要性、可行性及相關(guān)問題。
[Abstract]:The industrial investment fund is a unique concept in China. The foreign capital (Venture Capital) and private equity fund (Private Equity) are usually referred to as non listed companies with high growth potential. After maturity, capital appreciation is realized through the transfer of equity.
The industrial investment fund is a practical way to solve the difficulty of enterprise financing. It can solve the problem of the rapid development of the non listed enterprises. Under the current monetary policy background, the bank will further contract the credit scale and raise the credit "threshold", and the difficulty of obtaining credit support for many enterprises, especially small and medium enterprises, is more difficult. The investment fund becomes the bottleneck restricting the sustainable development of the economy. The industrial investment fund can play its intermediary role, providing financing for unlisted enterprises in the form of direct equity investment, reducing the proportion of liabilities and improving the business environment of the enterprise, which is an ideal choice to widen the financing channels of the enterprise under the current situation.
In terms of the legal environment, the "establishment of the management measures for the establishment of an overseas Chinese industrial investment fund approved by the State Council in September 1995 by the people's Bank of China) is the main basis for the establishment of the Chinese industrial investment fund abroad by the Chinese institutions so far. The establishment of an industrial investment fund in China, the national development and Reform Commission (NDRC) in 1999, was discussed in November 2001. Although the Interim Measures for the management of the management of the industrial investment fund have not been introduced until now, the relevant contents will also be the basis for the management of equity investment funds and the management methods of equity investment enterprises in the pilot areas. The new laws, such as the company law, the securities law and the partnership enterprise law, are also the domestic industrial investment funds. It provides a legal basis and framework for the establishment and operation of industrial investment funds, so that it has a clear legal status.
The national Weifang coastal economic and Technological Development Zone is located in the north of Weifang, the south of Laizhou Bay in Bohai, the intersection of the economic circle of Bohai and the the Yellow River Delta. At present, the planning and layout of the "one city and four gardens" are being improved by high standards, and the seven new and emerging high-end industries are actively nurturing, and the construction of facilities, functions and industry will be accelerated. The construction of the new town and the development of new local new enterprises can not be supported by the support of capital. The establishment of the industrial investment fund can be guided by the funds and land resources of the government and the Pearl River Delta and the Yangtze River Delta. The surplus capital from developed countries will attract to the development zones, thus promoting the sound and rapid development of the local economy and society.
In view of the above, the Weifang Binhai Economic and Technological Development Zone Management Committee and the zhongcohong easy venture capital management group agreed to jointly financed the establishment of the Weifang Binhai Industrial Investment Fund Management Limited company in the development zone. After the establishment of the company, the Weifang coastal industrial investment fund was set up, and the fund was set up to invest in the investment in the new energy technology industry. Fund, modern service industry investment fund and science and technology venture capital fund three sub funds.
Previously, 10 industrial investment funds have been approved by the State Council for approval by the State Council for approval by the State Council, such as the Bohai industrial investment fund, the Guangdong nuclear power new energy fund and the northeast equipment industrial investment fund. Since the 2008 NDRC has changed the management of the industrial investment fund from the "audit system" to the "record system", in the country, the national development and Reform Commission is in the country. The market oriented industrial investment fund for the record of the NDRC has reached 22, such as CDH, Chinese culture, China investment investment and other.2010 years. The national development and Reform Commission has also approved Chongqing and Shandong to establish Chongqing logistics investment fund and the Yellow River Delta industrial investment fund respectively. In addition, during the writing of this article, Shandong also issued < about the promotion stock. The opinions on the development of the right investment and the notice on strengthening the record management of the equity investment enterprises are over. These have provided the reference and method experience for the establishment of the Weifang Binhai Industrial Investment Fund.
Although the concrete implementation of the coastal industrial fund is likely to be long and complex due to various reasons, however, with the urgent need of China's economic development for industrial investment funds, the regulatory departments of the national development and Reform Commission and the SFC are speeding up the management of industrial investment funds, and the governments at all levels and at the local level are also in succession. Therefore, we believe that in the near future, the Weifang Binhai Industrial Investment Fund will quickly solve all kinds of problems and play a great role in the construction of Binhai New Town.
This article aims at the first chapter to summarize the theory of industrial investment fund and the analysis of the basis of the second chapter on the establishment of industrial investment fund in China. In the third chapter, the paper combines the research on the planning and development of the Weifang coastal economic and Technological Development Zone, and analyzes the necessity, feasibility and related problems of the establishment of the Weifang coastal industrial investment base gold.
【學(xué)位授予單位】：山東大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2011
【分類號】：F832.48
本文編號：2165645
[Abstract]:The industrial investment fund is a unique concept in China. The foreign capital (Venture Capital) and private equity fund (Private Equity) are usually referred to as non listed companies with high growth potential. After maturity, capital appreciation is realized through the transfer of equity.
The industrial investment fund is a practical way to solve the difficulty of enterprise financing. It can solve the problem of the rapid development of the non listed enterprises. Under the current monetary policy background, the bank will further contract the credit scale and raise the credit "threshold", and the difficulty of obtaining credit support for many enterprises, especially small and medium enterprises, is more difficult. The investment fund becomes the bottleneck restricting the sustainable development of the economy. The industrial investment fund can play its intermediary role, providing financing for unlisted enterprises in the form of direct equity investment, reducing the proportion of liabilities and improving the business environment of the enterprise, which is an ideal choice to widen the financing channels of the enterprise under the current situation.
In terms of the legal environment, the "establishment of the management measures for the establishment of an overseas Chinese industrial investment fund approved by the State Council in September 1995 by the people's Bank of China) is the main basis for the establishment of the Chinese industrial investment fund abroad by the Chinese institutions so far. The establishment of an industrial investment fund in China, the national development and Reform Commission (NDRC) in 1999, was discussed in November 2001. Although the Interim Measures for the management of the management of the industrial investment fund have not been introduced until now, the relevant contents will also be the basis for the management of equity investment funds and the management methods of equity investment enterprises in the pilot areas. The new laws, such as the company law, the securities law and the partnership enterprise law, are also the domestic industrial investment funds. It provides a legal basis and framework for the establishment and operation of industrial investment funds, so that it has a clear legal status.
The national Weifang coastal economic and Technological Development Zone is located in the north of Weifang, the south of Laizhou Bay in Bohai, the intersection of the economic circle of Bohai and the the Yellow River Delta. At present, the planning and layout of the "one city and four gardens" are being improved by high standards, and the seven new and emerging high-end industries are actively nurturing, and the construction of facilities, functions and industry will be accelerated. The construction of the new town and the development of new local new enterprises can not be supported by the support of capital. The establishment of the industrial investment fund can be guided by the funds and land resources of the government and the Pearl River Delta and the Yangtze River Delta. The surplus capital from developed countries will attract to the development zones, thus promoting the sound and rapid development of the local economy and society.
In view of the above, the Weifang Binhai Economic and Technological Development Zone Management Committee and the zhongcohong easy venture capital management group agreed to jointly financed the establishment of the Weifang Binhai Industrial Investment Fund Management Limited company in the development zone. After the establishment of the company, the Weifang coastal industrial investment fund was set up, and the fund was set up to invest in the investment in the new energy technology industry. Fund, modern service industry investment fund and science and technology venture capital fund three sub funds.
Previously, 10 industrial investment funds have been approved by the State Council for approval by the State Council for approval by the State Council, such as the Bohai industrial investment fund, the Guangdong nuclear power new energy fund and the northeast equipment industrial investment fund. Since the 2008 NDRC has changed the management of the industrial investment fund from the "audit system" to the "record system", in the country, the national development and Reform Commission is in the country. The market oriented industrial investment fund for the record of the NDRC has reached 22, such as CDH, Chinese culture, China investment investment and other.2010 years. The national development and Reform Commission has also approved Chongqing and Shandong to establish Chongqing logistics investment fund and the Yellow River Delta industrial investment fund respectively. In addition, during the writing of this article, Shandong also issued < about the promotion stock. The opinions on the development of the right investment and the notice on strengthening the record management of the equity investment enterprises are over. These have provided the reference and method experience for the establishment of the Weifang Binhai Industrial Investment Fund.
Although the concrete implementation of the coastal industrial fund is likely to be long and complex due to various reasons, however, with the urgent need of China's economic development for industrial investment funds, the regulatory departments of the national development and Reform Commission and the SFC are speeding up the management of industrial investment funds, and the governments at all levels and at the local level are also in succession. Therefore, we believe that in the near future, the Weifang Binhai Industrial Investment Fund will quickly solve all kinds of problems and play a great role in the construction of Binhai New Town.
This article aims at the first chapter to summarize the theory of industrial investment fund and the analysis of the basis of the second chapter on the establishment of industrial investment fund in China. In the third chapter, the paper combines the research on the planning and development of the Weifang coastal economic and Technological Development Zone, and analyzes the necessity, feasibility and related problems of the establishment of the Weifang coastal industrial investment base gold.
【學(xué)位授予單位】：山東大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2011
【分類號】：F832.48
【參考文獻】
相關(guān)期刊論文 前10條
1 馮旭;干勝道;楊帆;;開放式基金委托代理風(fēng)險研究[J];商業(yè)研究;2005年22期
2 王玉霞;產(chǎn)業(yè)投資基金:基金業(yè)向前發(fā)展的選擇[J];財經(jīng)問題研究;2000年02期
3 季敏波,徐莉芳;中國產(chǎn)業(yè)投資基金的發(fā)展戰(zhàn)略與模式選擇[J];財經(jīng)研究;2000年05期
4 戴國強,王國松;信息不對稱和風(fēng)險資本退出[J];財經(jīng)研究;2002年02期
5 韓世君;;發(fā)展產(chǎn)業(yè)投資基金問題初探[J];財貿(mào)經(jīng)濟;2006年04期
6 孫建;我國產(chǎn)業(yè)投資基金發(fā)展環(huán)境有待改善[J];中國創(chuàng)業(yè)投資與高科技;2005年03期
7 許輝;發(fā)展中國產(chǎn)業(yè)投資基金的現(xiàn)實思考[J];湖北社會科學(xué);2002年08期
8 鄭尊信,鄭水珠,黃琨;我國封閉式基金委托代理關(guān)系分析[J];福建金融;2002年10期
9 張微;李文靜;;我國產(chǎn)業(yè)投資基金問題研究[J];法制與社會;2007年08期
10 陳崢嶸;發(fā)展我國產(chǎn)業(yè)投資基金的原則和策略[J];高科技與產(chǎn)業(yè)化;2005年Z1期
相關(guān)重要報紙文章 前2條
1 巴曙松;[N];中國經(jīng)濟時報;2003年
2 何小鋒 黃嵩;[N];中國經(jīng)濟時報;2003年
相關(guān)博士學(xué)位論文 前1條
1 郭建鸞;創(chuàng)業(yè)投資基金委托代理機制研究[D];南開大學(xué);2004年
相關(guān)碩士學(xué)位論文 前3條
1 魯銘揚;我國產(chǎn)業(yè)投資基金發(fā)展問題研究[D];東北財經(jīng)大學(xué);2005年
2 鮑倫樹;我國私募基金的委托代理問題研究[D];華東師范大學(xué);2007年
3 楊玲;產(chǎn)業(yè)投資基金與優(yōu)化產(chǎn)業(yè)結(jié)構(gòu)關(guān)聯(lián)性分析[D];天津財經(jīng)大學(xué);2008年
，本文編號：2165645
本文鏈接：http://sikaile.net/falvlunwen/gongsifalunwen/2165645.html
