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China Risk Investment Still in the Budding
As learned from the Symposium on China Risk Investment Operation Mechanism, the actual risk investment in China has reached 0.3 billion dollars. However, data show that the industry is still at the initial stage.
Cheng Siwei, and Jiang Zhenghua, Vice Chairmen of standing committee of the National People's Congress, Gao Xiqing, Vice Chairman of China Securities Supervisory and Management Committee, Yan Yiyun, Deputy Director of China Academy of Sciences and John Wall, Vice President of Nasdaq of US all offered their opinions enthusiastically one after another as to how China's risk investment could be turned from something conceptual to a thing substantial in operation.
Risk investment has always been the spotlight of mass media. The startup miracle of the US silicon valley enterprises, the emergence of the Internet enterprises such as Sina, Sohu have all roused the enthusiasm of many firms to make a try. However, it's merely a great show, "slight rain behind rumblings of thunderbolt". The amount of risk investment made by China is big neither at home nor abroad. The scale of the US risk investment is 48 billion dollars, Europe being 16 billion and Asia amounts to 6 billion, whereas China is only at the threshold of it.
Mr. Cheng Siwei holds that now the crux of the matter is neither lack of money nor of secondary market but of mature risk investors. It is very difficult for the civilian and foreign investors to find credible managers. The present residents' saving deposit is 6000 billion yuan, part of which can be channeled into risk investment. The withdrawal of stock shares can be achieved in the way of 30% through listing and 70% through annexation or consolidation. This is the last way out but it can be improved gradually. However, if managers are lack of ability in assessment and experience of financial management, it is likely to happen that no correct choice of projects can be made. Cheng Siwei summed up the five qualities that are necessary for risk investors: first is sense of responsibility and keen commercial intuition, secondly the resourceful experience and skills for inter-personal communications. The third is to be familiar with the relevant knowledge on finance, management and laws, while the fourth is to have one or more technical backgrounds and the last to secure a good relationship with the financial and legal circles of China.
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