China Venture Capital Assoc. Governors Study Ministries of China

The Board of Governors of China Venture Capital and Private Equity Association (CVCA) concluded a two-day study tour to 8 ministry-level administrations of China on November 1st 2012. It is the fourth of such hi-end visit since 2009. The annual visit has laid a good foundation for building a smooth dialogue platform between CVCA and the VC/PE policy makers, and for helping VC/PE players get heard by the right people.

The eight national administrations meeting CVCA governors during this year's study tour are National Development and Reform Commission (NDRC), China Securities Regulatory Commission (CSRC), China Insurance Regulatory Commission (CIRC), Ministry of Commerce of the People's Republic of China (MOFCOM), State Administration of Taxation (SAT), State-owned Assets Supervision, Administration Commission of the State Council (SASAC) and The national social security fund council (SSF). Key topics discussed range from the newly released VC/PE policies and regulations, the logic and thoughts behind, to the next steps as well as the future policy preference from the angle of each administration.

The CVCA delegation was co-led by Mr. Yichen Zhang, Chairman of CVCA and CEO of CITIC Capital, and Mr. John Zhao, Chairman Elect of CVCA and CEO of Hony Capital. The delegation is composed of CVCA governors, selective partners of CVCA members and guests from 18 top-tier GPs and LPs.

According to incomplete statistics, the AUM of the delegation is roughly RMB 1,900 billion. They have invested in mainland China RMB 152.6 billion in over 1,000 Chinese enterprises which have produced over 4 million employment opportunities. 60% of their investees fall into the strategic emerging industries category as defined in China's 12th 5-year plan. With the investment, the CVCA delegation has played an active and indispensable part in the transformation and upgrade of China's real economy, improving the proprietary innovation capability and corporate governance of the Chinese enterprises, incubating potential candidates for capital markets, contributing to the formation of multi-level capital markets, and helping Chinese enterprises going abroad.

As a nationwide organization focused on VC/PE industry, CVCA devotes to building a communication platform between China governments and VC/PE industry to drive the sustainable development of the VC/PE industry in the great China region. 

source: http://www.cvca.org.cn/mail2012/20121101/index_en.htm

for more information about CVCA, please visit  www.cvca.org.cn.