Venture investment Industry Thanksgiving Board set up

"The launch of the SME Board in 2004 can be called the watershed of the rise of local venture investment, which has milestone significance."　　"Shenzhen Oriental Fu Hai Investment Management Co., Ltd., chairman Chen Wei in the Chinese Securities newspaper reporter interview, said that although the local venture has begun to develop, but the real climax in 2004 after the introduction of small and medium-sized board, local venture growth rate and raise the size of the growth is a leap. To solve the key link of Exit channel Chen Wei pointed out that the first time in 1999 to put forward the gem, venture investment industry was once hot, but only illusory climax, because the venture industry lacks the real exit channel.　　After the establishment of SME Board provides a feasible exit channel, so that the venture investment industry in the ensuing five years of enthusiasm, but also make the local venture rapid rise, changed the previous Chinese venture investment industry to foreign-oriented situation. For the benefits of the SME to the investment organization, Chen Wei that the domestic and foreign stock market price-earnings ratio and liquidity is better than the overseas markets, the return for the creation of the general higher than the foreign market, most of the current venture investment institutions will be SSE SME as the listed company's first glare, he said, with the growth of SMEs and the launch of the Gem,　　will continue to promote the growth and development of local ventures. Fortune, chairman and President Liu Day held the same point of view, he said that the 5 years of the establishment of the SME, but also the development of local investment 5 years.　　He explained that before the Chinese venture capital to foreign-led, capital and exit channels are "both in the outside", with the establishment of small and medium-sized enterprises, the creation of investment institutions can be withdrawn at home, but also to the rise of local venture and to contend with foreign investment opportunities. It is understood that there are at present to create a background of more than 72 of the SME board, the proportion reached 26.3%, Liu Day, the exit channel key links to solve the development of local venture has played a profound role in promoting. Not only that, the board for local venture training team and case experience, the demonstration effect of the successful exit case of venture Capital also encourages the private fund to participate in the investment industry actively, so that the strength of local venture investment is growing, the proportion of local VC and foreign investment is roughly 37, and Liu Day is expected to　　3-4 years later, this ratio is expected to turn further into "55". To promote the enterprise standard management to compare the changes before and after the listing of the invested enterprises, Liu Day that the equity, options brought about by the incentive is very obvious, small and medium-sized company Information Disclosure awareness and level has also been greatly improved; the Board of Small and medium-sized companies in the market before the general low level of governance, but there are venture background in the corporate governance structure, financial and other aspects of the norms,　　The decision-making is more democratic and scientific, its growth, the standard is stronger than the investment background of the enterprise, after listing can quickly adapt to the Shenzhen Stock Exchange supervision system and the rules of the capital market game, and form a benign interactive relationship. When talking about the change of the investment enterprise before and after the listing, Chen Wei said, the small and medium-sized enterprises often target relatively conservative and stable before listing, the listing can improve the enterprise management level of competition awareness and development objectives, conducive to enterprise growth; most of the small and medium-sized enterprises are originally family-owned companies, the introduction of the, to improve transparency, to form a scientific decision-making mechanism, to gradually build a systematic management system; At the same time, for the SMEs in the full competition industry, listing is conducive to enhance the image of enterprises, enhance the financial strength and the ability to undertake orders, has a certain advertising effect, for enterprises to improve competitiveness and withstand economic crisis For the future development of the board, Liu Day suggested that one is to further change the proportion of the traditional manufacturing industry is too high, appropriate to increase the proportion of the new economy and services industries, reduce systemic risk; second, after the size of the ban, should be considered to relax the regular limit of shareholding lock. Chen Wei called for a quick restart of the SME IPO, improving the quantity and quality of the SME, and solving the contradiction between supply and demand of the capital market. Let more high-quality SMEs listed, not only to solve the problem of financing enterprises, more conducive to prevent speculation and ensure the smooth operation of the market.