【摘要】：私募股權(quán)投資基金是一種金融創(chuàng)新。自1946年，世界上第一支私募股權(quán)投資基金成立以來，經(jīng)過多年的快速發(fā)展，它已經(jīng)成為規(guī)模上僅次于貸款和IPO的融資方式。伴隨著我國改革開放，外資型私募股權(quán)基金于上世紀(jì)九十年代起落戶國內(nèi)，并為我國的經(jīng)濟(jì)建設(shè)注入了資金和活力。但是作為發(fā)展中國家，我國目前仍然處于產(chǎn)業(yè)結(jié)構(gòu)轉(zhuǎn)型期，面對洶涌而來的國際資本，如果不經(jīng)治理勢必危及經(jīng)濟(jì)安全，甚至產(chǎn)生一系列社會問題。那么對外資型私募股權(quán)基金如何能夠?qū)嵤┯行ПO(jiān)管，是擺在政府面前的一個重大課題。本文是筆者對該問題進(jìn)行系統(tǒng)思考后形成的研究成果。 本文共分為引言、正文、結(jié)論三部分，其中正文部分分為三章： 第一章是外資型私募股權(quán)基金概述。本章在簡要介紹私募股權(quán)基金之后著重闡述外資型私募股權(quán)基金的特殊性，并提出外資PE區(qū)別于本土PE的主要因素。還介紹了外資PE在中國發(fā)展的歷史，之后對為什么要對外資型私募股權(quán)予以特殊監(jiān)管進(jìn)行解讀。 第二章是我國目前對外資型監(jiān)管的措施。本部分首先將目前國內(nèi)對于外資型私募股權(quán)的監(jiān)管分為中央與地方兩個層級。其中對于中央層級的法律文件按照私募股權(quán)基金運(yùn)作流程以及稅收外匯等方面進(jìn)行分類的文本分析，對于地方層級的試點(diǎn)監(jiān)管措施，則是重點(diǎn)介紹較之于中央規(guī)定有何繼承和突破。接下來是對現(xiàn)階段的監(jiān)管提出缺陷與不足。 第三章是國外對外資型私募股權(quán)基金的監(jiān)管及啟示和對我國針對外資型私募股權(quán)基金監(jiān)管的完善建議，也是全文的核心部分。在這一章中，首先以私募股權(quán)基金行業(yè)較為發(fā)達(dá)的美國與英國為例，介紹兩國的監(jiān)管制度，并在此基礎(chǔ)上提出對我國的啟示。接下來筆者論述了對于完善我國對于外資型私募股權(quán)基金的一些建議，包括明確監(jiān)管主體、加強(qiáng)對投資者和基金管理人的監(jiān)管、細(xì)化投資限制與信息披露以及優(yōu)化退出機(jī)制等幾個方面，，以期對今后我國完善相關(guān)立法提供參考。
[Abstract]:Private equity fund is a kind of financial innovation. Since the establishment of the world's first private equity fund in 1946, after many years of rapid development, it has become the second only in size to loans and IPO financing. With China's reform and opening up, foreign-funded private equity funds began to settle in China in the 1990s, and injected funds and vitality into China's economic construction. However, as a developing country, China is still in the transition period of industrial structure. Facing the surging international capital, if it is not managed, it will endanger the economic security and even produce a series of social problems. Then how to implement effective supervision of foreign private equity funds is a major issue in front of the government. This article is the research result that the author carries on the systematic thought to this question. This paper is divided into three parts: introduction, text, conclusion, the main body is divided into three chapters: the first chapter is an overview of foreign private equity funds. After a brief introduction of private equity funds, this chapter focuses on the particularity of foreign-funded private equity funds, and puts forward the main factors of the difference between foreign-funded PE and native PE. This paper also introduces the history of the development of foreign-funded PE in China, and then explains why the special supervision of foreign-funded private equity should be carried out. The second chapter is China's current foreign capital supervision measures. This part firstly divides the domestic supervision of foreign-funded private equity into two levels: central and local. Among them, the legal documents at the central level are classified according to the operation process of private equity funds and tax foreign exchange, and the pilot regulatory measures at the local level are analyzed. The emphasis is on how to inherit and break through compared with the central regulations. Next is to the current stage of the supervision of the shortcomings and deficiencies. The third chapter is the supervision and enlightenment of foreign private equity funds and suggestions to improve the supervision of foreign private equity funds in China, which is also the core part of the paper. In this chapter, first of all, taking the developed private equity industry in the United States and the United Kingdom as an example, the two countries' regulatory systems are introduced, and on this basis, the enlightenment to our country is put forward. Next, the author discusses some suggestions for perfecting the foreign private equity fund in our country, including clarifying the main body of supervision and strengthening the supervision of investors and fund managers. To refine the investment restriction and information disclosure and optimize the exit mechanism, in order to provide reference for the perfection of the relevant legislation in China in the future.
【學(xué)位授予單位】：華僑大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：D922.287;F832.51

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