论风险投资民间筹资的可能性

以高科技为代表的知识经济的来临,呼唤风险投资。我国的风险投资方兴未艾,但风险资金主要来自于政府,非政府资金相对较少,由此造成我国风险资金的不足并日益成为我国科技成果转化为生产力的"瓶颈"。与此同时,我国居民储蓄余额每年却以30%的速度递增。对此,应借鉴国外实际运作经验,通过民间储蓄来筹集我国的风险资金,这就要求转变我国居民观念、培育筹资环境体系和确立合适的筹资模式,在这些方面,政府还有许多工作要做。

An Alternative to Raise Funds from Private Sector for Venture Capital

Risk in investment is rich with opportunities for profits in the world, despite the fact that most of the stocks in NASDAQ have cratered or plummeted to ten years' lows. For some self claimed sagacious investors, they are continuing to woo more investors to jump in. The most attractive stocks are those of knowledge based economy and high tech sectors. Risk capital or venture investment in China is still at its preliminary stage. The primary source of venture capital comes directly from government and only limited amount of it from private or non government sectors. With a careful study of the current resources of venture capital, one finds that the severe "bottleneck" does exists and it hampers the inflow of funds. Insufficient government and private investment may keep the academic researches from being moved to the private enterprises or transformed into production. The savings deposit of ordinary citizens in China is steadily increasing at the rate of 30% every year. China should draw lessons from other countries and create an investment market conducive to the influx of savings deposit from citizens or raise funds from private sectors.