On Current Regulations of Venture Capital in China

The development of venture capital investment cannot do without the guidance and support of the law and the legal environment is an important factor to breed industry,attract new entrants and foreign access.Perfection of the legal system will impact directly the precise operation of venture capital investment activities,predictability of investment risk,thereby affecting investors' willingness to invest.This paper,starting from nine special legal protection for the venture capital enterprises,makes a comparison between and analysis of Interim Measures for the Administration of Venture Capital Enterprises and Foreign-invested Venture Capital Enterprise Management Provisions,and examines the conflict between them and current Company Law and Foreign Enterprise Law in China.And it holds that current China's venture capital legal system can be regarded as the transition phase of the venture capital development of the legal system,but after it developed maturely,it is suggested to relax the statute of limitations,expand the corporate limits of the autonomy and courage the venture capital company to build their own contractual governance mechanisms.