The Study on Legal System of the Private Equity Fund in China

• Main Authors: Shen, Chin-Ju, 沈靜如
• Other Authors: 王煦棋
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/12979246770780026332

碩士 === 東吳大學 === 法律學系 === 104 === Private equity fund has become one of the major investment methods in recent years. Due to the saturation of the US and European capital markets, international investors have valued the development potential of the Asia-Pacific region. Mainland China is Asia's most promising private equity market, and international investors regard it as important strategic investment objectives. Thus, private equity fund in China has developed rapidly. However, because of the long-term lack of comprehensive legislative regulation, there are many problems of private equity activities in China, such as illegal fund-raising, customer fraud, misappropriation of assets, and unfair competition. Different legal risks exist in each stage of private equity fund, from fund-raising, investment to exit. The legal system and regulatory mechanism established for these risks play an important role to the sound development of private equity fund. Currently, China has not thoroughly established and combined the regulatory mechanism and industry self-regulation over the management system of private equity fund. Therefore, for those investors who want to seize the initiative in the commercial competition, it is necessary to carefully study and understand China’s present regulations and relevant laws. This study introduces the basic concepts of private equity fund, as well as the development and China’s current status of legislation, and analyzes the current problems of developing private equity fund in China. At last, by drawing lessons from a few examples of lawmaking in foreign countries, this study discusses China’s legal system of private equity fund in different perspective of views and brings out some directions and suggestions of legislation.