With the advent of knowledge economy, high-tech industry in China has become a focus of industrial upgrading in the process of high-tech achievements in industry, venture capital as a financial capital, it needs access to high-tech projects and between the flexible out to realize their own value added, to provide the impetus for the high-tech growth. Therefore, exit is a prerequisite for entry. With the gradual deepening of China's market reforms, to the rapid development of venture capital. But compared with developed countries, China's venture capital system construction is still not perfect, especially the lack of exit mechanism for venture capital investment has increased the risk of impeding the optimal allocation of resources. Venture Capital Industry in China after twenty years of development, its difficult, the effectiveness of previews, the fundamental reason is that a single risk capital exit, exit channels are sluggish. In the course of the operation of venture capital, venture capital exit of great significance. Smooth withdrawal of venture capital, venture capital firms related to the recoverability of capital, so that the flow of capital to cycle to the appreciation of investment â â â Exit â further appreciation of the re-investment risk â a virtuous cycle of investment in the process. Withdrawal mechanism of risk investment barriers are major obstacles: IPO method is difficult to achieve, inadequate laws and regulations, agencies and service system imperfect. Therefore, to build a wide range of exit ways, the development of relevant laws and regulations, the enhancement of training agencies, the establishment of specialized institutions to improve risk assessment of investment exit mechanism. In this paper, the development status of China Venture Capital, made a number suitable for the China venture capital exit program.
Keywords: venture capital; withdrawal mechanism; barriers; improve measures
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