关于设立潍坊滨海产业投资基金有关问题的研究

发布时间：2018-08-05 11:22

【摘要】：产业投资基金是一个中国特有概念,国外通常称为风险投资基金(Venture Capital)和私募股权投资基金(Private Equity),一般是指向具有高增长潜力的未上市企业进行股权或准股权投资,并参与被投资企业的经营管理,以期所投资企业发育成熟后通过股权转让实现资本增值。产业投资基金是解决企业融资难的一种现实途径,可以很好地解决非上市企业快速发展的资金问题。在当前货币政策背景下,银行将进一步收缩信贷规模,提高信贷“门槛”,许多企业特别是中小企业获得信贷支持的难度加大,企业融资成为制约经济可持续发展的“瓶颈”。产业投资基金可以发挥其中介作用,以直接股权投资的形式为未上市的企业提供融资,降低企业的负债比例,改善企业的经营环境,是当前形势下拓宽企业融资渠道的一种理想选择。从法律环境来看,1995年9月中国人民银行公布的经国务院批准的《设立境外中国产业投资基金管理办法》,是至今中资机构在境外设立中国产业投资基金的主要依据。对在境内设立产业投资基金,国家发改委于1999年就开始讨论、2001年11月起草完毕的《产业投资基金管理暂行办法》虽然至今没有出台,但是有关内容也将是今后《股权投资基金管理办法》和《试点地区股权投资企业管理办法》的基础。而新《公司法》、《证券法》和《合伙企业法》等法律的修订,也为国内产业投资基金的设立和运营提供了法律依据和框架,使产业投资基金具备了清晰的法律地位。国家级潍坊滨海经济技术开发区位于潍坊市北部,渤海莱州湾南畔,处于环渤海经济圈和黄河三角洲的交汇点。目前正在高标准提升完善“一城四园”的规划布局,积极培育壮大七大新兴高端产业,加快建设设施配套、功能完善、产业发达、生态良好、宜居宜业的充满发展活力、富有独特魅力的现代化、国际化高效生态滨海新城。新城的建设和当地新兴企业的发展最离不开资金的支持,产业投资基金的设立可以通过政府的资金和土地等资源作为引导,将珠三角、长三角乃至国外发达地区的富余资本吸引聚集到开发区,从而推动当地经济社会的又好又快发展。鉴于以上所述,潍坊滨海经济技术开发区管理委员会与中科宏易创业投资管理集团协商一致,拟共同出资在开发区设立潍坊滨海产业投资基金管理有限公司,公司设立后主导设立潍坊滨海产业投资基金,基金下设新能源科技产业投资基金、现代服务业投资基金和科技创业投资基金三个子基金。此前,经国家发改委以特批的方式报国务院批准试点的产业投资基金己达10只,如渤海产业投资基金、广东核电新能源基金、东北装备工业产业投资基金等。自2008年发改委对产业投资基金的管理由“审核制”改为“备案制”后,在国家发改委备案的市场化产业投资基金已达到22家,如鼎晖、华人文化、中科招商等。2010年,国家发改委又先后批准重庆和山东分别筹建重庆物流产业投资基金和黄河三角洲产业投资基金。另外在本论文写作期间,山东省也颁布了《关于促进股权投资发展的意见》和《关于加强股权投资类企业备案管理工作的通知》。这些都为潍坊滨海产业投资基金的设立提供了参考依据和方法经验。虽然滨海产业基金下步的具体实施可能由于各种原因会比较漫长而复杂。但是,随着我国经济发展对产业投资基金的迫切需要,国家发改委和证监会等监管部门正在加快出台有关产业投资基金的管理办法,国家和地方各级政府也纷纷从各自角度出台促进产业投资基金发展和创新的政策意见。因此我们相信在不远的将来,潍坊滨海产业投资基金也将很快解决各种问题并在滨海新城的建设中发挥其巨大作用。本文旨在通过第一章对产业投资基金理论的综述和第二章对国内设立产业投资基金依据的分析,在第三章结合对潍坊滨海经济技术开发区规划、发展等方面的研究,分析设立潍坊滨海产业投资基金的必要性、可行性及相关问题。
[Abstract]:The industrial investment fund is a unique concept in China. The foreign capital (Venture Capital) and private equity fund (Private Equity) are usually referred to as non listed companies with high growth potential. After maturity, capital appreciation is realized through the transfer of equity.
The industrial investment fund is a practical way to solve the difficulty of enterprise financing. It can solve the problem of the rapid development of the non listed enterprises. Under the current monetary policy background, the bank will further contract the credit scale and raise the credit "threshold", and the difficulty of obtaining credit support for many enterprises, especially small and medium enterprises, is more difficult. The investment fund becomes the bottleneck restricting the sustainable development of the economy. The industrial investment fund can play its intermediary role, providing financing for unlisted enterprises in the form of direct equity investment, reducing the proportion of liabilities and improving the business environment of the enterprise, which is an ideal choice to widen the financing channels of the enterprise under the current situation.
In terms of the legal environment, the "establishment of the management measures for the establishment of an overseas Chinese industrial investment fund approved by the State Council in September 1995 by the people's Bank of China) is the main basis for the establishment of the Chinese industrial investment fund abroad by the Chinese institutions so far. The establishment of an industrial investment fund in China, the national development and Reform Commission (NDRC) in 1999, was discussed in November 2001. Although the Interim Measures for the management of the management of the industrial investment fund have not been introduced until now, the relevant contents will also be the basis for the management of equity investment funds and the management methods of equity investment enterprises in the pilot areas. The new laws, such as the company law, the securities law and the partnership enterprise law, are also the domestic industrial investment funds. It provides a legal basis and framework for the establishment and operation of industrial investment funds, so that it has a clear legal status.
The national Weifang coastal economic and Technological Development Zone is located in the north of Weifang, the south of Laizhou Bay in Bohai, the intersection of the economic circle of Bohai and the the Yellow River Delta. At present, the planning and layout of the "one city and four gardens" are being improved by high standards, and the seven new and emerging high-end industries are actively nurturing, and the construction of facilities, functions and industry will be accelerated. The construction of the new town and the development of new local new enterprises can not be supported by the support of capital. The establishment of the industrial investment fund can be guided by the funds and land resources of the government and the Pearl River Delta and the Yangtze River Delta. The surplus capital from developed countries will attract to the development zones, thus promoting the sound and rapid development of the local economy and society.
In view of the above, the Weifang Binhai Economic and Technological Development Zone Management Committee and the zhongcohong easy venture capital management group agreed to jointly financed the establishment of the Weifang Binhai Industrial Investment Fund Management Limited company in the development zone. After the establishment of the company, the Weifang coastal industrial investment fund was set up, and the fund was set up to invest in the investment in the new energy technology industry. Fund, modern service industry investment fund and science and technology venture capital fund three sub funds.
Previously, 10 industrial investment funds have been approved by the State Council for approval by the State Council for approval by the State Council, such as the Bohai industrial investment fund, the Guangdong nuclear power new energy fund and the northeast equipment industrial investment fund. Since the 2008 NDRC has changed the management of the industrial investment fund from the "audit system" to the "record system", in the country, the national development and Reform Commission is in the country. The market oriented industrial investment fund for the record of the NDRC has reached 22, such as CDH, Chinese culture, China investment investment and other.2010 years. The national development and Reform Commission has also approved Chongqing and Shandong to establish Chongqing logistics investment fund and the Yellow River Delta industrial investment fund respectively. In addition, during the writing of this article, Shandong also issued < about the promotion stock. The opinions on the development of the right investment and the notice on strengthening the record management of the equity investment enterprises are over. These have provided the reference and method experience for the establishment of the Weifang Binhai Industrial Investment Fund.
Although the concrete implementation of the coastal industrial fund is likely to be long and complex due to various reasons, however, with the urgent need of China's economic development for industrial investment funds, the regulatory departments of the national development and Reform Commission and the SFC are speeding up the management of industrial investment funds, and the governments at all levels and at the local level are also in succession. Therefore, we believe that in the near future, the Weifang Binhai Industrial Investment Fund will quickly solve all kinds of problems and play a great role in the construction of Binhai New Town.
This article aims at the first chapter to summarize the theory of industrial investment fund and the analysis of the basis of the second chapter on the establishment of industrial investment fund in China. In the third chapter, the paper combines the research on the planning and development of the Weifang coastal economic and Technological Development Zone, and analyzes the necessity, feasibility and related problems of the establishment of the Weifang coastal industrial investment base gold.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2011
【分类号】：F832.48

【参考文献】