Venture Capital and Mobilization Efficiency in China

Chunfa Chen, Kun Li and Yingkai Tang

Chinese Economy, 2009, vol. 42, issue 6, 45-65

Abstract: This paper aims to analyze the mobilization efficiency of venture capital (VC) in China. It has been found that the dearth of venture capitalists, absence of appropriate exit channels, and lack of open, active, mature, and stable equity-driven capital markets result in low mobilization efficiency in China's VC markets. Therefore, government should take an appropriate role to facilitate VC development by educating entrepreneurs, providing a more favorable entrepreneurial environment, thereby reducing time, financial and opportunity costs, encouraging private investment funds to absorb the country's tremendous savings, and encouraging institutional investors to further develop capital markets.

Date: 2009
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