中国私募股权投资基金优化发展分析-analysis on the optimal development of private equity investment funds in china.docxVIP

II II Abstract Private Equity Fund originated in the United States, which the earliest investment activities dated back to the late 19th century and developed rapidly in global scope in the 1980s.China private equity fund is in the form of venture capital in the early time and the development of PE has begun to take shape after more than ten years. The State Council promulgated Interim Measures on Venture Capital Management in 2005, which it marked that the development of PE has entered into the standardization. The introduction of GEM in 2009 made so many private equity funds get huge income through this exit channel. PE shows a momentum of rapid development. The paper firstly started from the content, characteristics, types, operational processes with the theory of private equity fund and initially described the overall profile of private equity fund. After that, we compared and analyzed the development of PE in the United States, Britain, Japan and other mature market countries. Then we sorted out and summed the China PE’s overall status and development of major cities. And put forward private equity funds’ issues to be addressed during the specific operation. According to PE’s development of data, we studied the effects of PE scale of the economic variables from the macro level and analyzed PE’s impact for small and medium enterprises value and performance from the micro level. On this basis, we summed up the strategy about China’s development of private equity fund and made to the optimal road of PE’s development in China. The result shows that the private equity fund’s scale is positively sensitive to development degree of stock market, especially the Small and Medium-sized Plates, and not sensitive to GDP and interest rate. At the same time, the private equity investment has a positive impact on the value and operating performance of small and medium enterprises. China private equity fund has made great progress since its inception and had a huge potential an