和讯网消息 第三届中国西部金融论坛9月25日在成都举行，深圳市创新投资集团有限公司董事长靳海涛在下午的主题研讨会上表示，西部金融发展状况和资本运作发达地区相比还有很大的差距，应该是进一步转变观念，进一步提高对发展创业投资人，采取实实在在的措施，推进这个事业的发展，而不是计较得失。

HeXunWang news the third China western financial BBS on September 25, held in chengdu,Shenzhen innovation investment group co., LTD., chairman of the board in the afternoon JinHaiTao the theme of the conference said,The western financial development and capital operation compared to developed areas also has the very big disparity,Should be to further transform their notions,To further improve the development of venture capitalists,Truly, truly, take measures,Promote the development of the cause,Not haggle over gain and loss.

　　靳海涛表示，四川省的上市公司数量是23家，而广东是145家，浙江118家，江苏92家，山东57家。而四川省这几年创业投资取得了快速的发展，截止今年5月份成都股权投资基金130，管理规模超过200个亿，但是和东部地区相比差距还是非常明显的：去年以来光深圳一个城市就注册了一千家创投公司，而深创投是政府引导性创头基金的开创板，到目前为止已经管理50支政府引导性基金，在苏南一个地区就有9支，而在四川省，在成都市目前没有，这就是东部和西部的差距。

JinHaiTao said,The number of listed companies in sichuan province is 23 home,And guangdong is 145,Zhejiang 118,Jiangsu 92,Shandong 57.And over the past few years in sichuan province venture capital investment have made rapid development,By this year chengdu equity funds in May 130,Management scale more than 200,But and eastern area compared the gap is still very obvious:Since last year the light shenzhen a city is registered vc firms,And deep venture is the government leading and head of the fund a plate,So far have management 50 a government leading fund,In southern jiangsu a area and branch,But in sichuan province,In chengdu have no current,This is the gap between the east and west.

　　靳海涛呼吁四川省能够进一步实实在在的加强政府引导性创投企业建设，采取有效的措施来引资和引人。在政府引导方面，现阶段应该引导企业进入资本市场为主。

JinHaiTao calls for sichuan province to further strengthen the government leading, creates throws the enterprise construction,Take effective measures to investment and attractive.In the government guidance aspects,At the present stage should guide enterprise to enter the capital market is given priority to.

靳海涛在西部金融论坛发言 JinHaiTao in the western financial BBS to speak

　　以下为靳海涛发言实录：

The following is JinHaiTao speech memoir:

　　各位领导、各位来宾下午好！非常容幸有这个机会参加第三届中国西部金融论坛，并在这里就创业投资的话题，大概我想讲三个问题：

All the leaders/Good afternoon ladies and gentlemen!It's a pleasure to have this opportunity for the third session of Chinese western financial BBS,And here is the topic of venture investment,I want to speak about three questions:

　　第一个问题，我想再次的强调一下创业投资对国际民营经济发展的先导作用和企业发展的巨大推动作用。大家知道创业投资是在上世纪的70年代诞生于美国，我们熟识当今世界最著名的高科技企业，不管是苹果还是英特尔都是创业投资者投资起来的。上世纪最末创业投资在中国开始兴起，从那个时候起创业投资有一个快速的发展，特别是2005年，和国务院颁布创业投资的一个纲领性的文件以后，创业投资开始发展起来了。回顾这两年的发展历程，有两个时间段创业投资得到了迅猛的发展。第一个时间段是在创业开辟之前，也就是在07—08年说半年这样一个时期，第二个阶段是在09年末，创业开辟一直到2011年，这两段时间创业投资得到了非常高速的成长。进入今年以来，整个创业投资活动处在一个调整和洗牌的时期，但是不管是处在高速成长还是调整洗牌，创业投资对经济发展的作用都是毋庸置疑的，我想在这里谈十点：

The first question,I think again emphasized the venture investment to the international private economic development guide function and enterprise development of the role.As we all know venture investment is in the 70 s was born in the United States,Our knowledge of the world's most famous high-tech enterprise,Either an apple or Intel are venture investment up.The end of the last century venture investment is emerging in China,From then on venture capital investment has a rapid development,Especially in 2005,Issued by the state council and venture capital investment of a programmatic document later,Venture investment began to developed.This article reviews the development course of two years,There are two time venture investment has been rapid development.The first time is in the business of before open,Also is in - 08 said such a period of six months,The second stage is in 09 the end of the year,Entrepreneurial open until 2011,The two time venture investment obtained very high speed growth.Into since this year,The whole venture investment activities in a period of adjustment and shuffle,But no matter in high-speed growth or adjust shuffle,Venture investment to economic development function is beyond doubt,I'd like to talk about here at ten o 'clock:

　　第一，创业投资促进了中小企业的发展。中小企业是我们企业数量当中的绝大多数，他们贡献了中国60%的GDP，50%的税收和80%的城市就业，所以形成了创业投资的主体，创业投资投资对象就是中小企业。由于有一个数字，到去年投的400个企业做了一个数据的统计，统计了12年的数据，所有的投资项目我们得出来的数据非常惊人，主要经济数据，包括产值、收入、利润、税收、用工人数年复合的增长率50%，说明中小企业有旺盛的生命力。这样一种生命力你给了它支持以后，它就会得到迅猛的成长，同时说明创业投资的眼光，显然是高速成长的企业。

The first,Venture investment to promote the development of the small and medium-sized enterprises.Small and medium-sized enterprise is our enterprise of the number of the most,They contributed 60% of China's GDP,50% tax and 80% of urban employment,So formed the main body of venture investment,Venture capital investment object is small and medium-sized enterprise.As a result there is a digital,Last year put 400 enterprise made a data statistics,Statistics the 12 years of data,All of the investment project, we must come out data is very breathtaking,The main economic data,Including output/income/profit/tax/The number of labor in compound growth rate of 50%,That small and medium-sized enterprise has strong vitality.Such a life you gave it supports later,It will be rapid growth,At the same time that the eye of venture investment,Apparently high speed growth of enterprise.

　　第二，我们到创业投资对新型产业化的作用，大家看到高污染、高耗能传统性占主导作用，但是创业投资所投资的领域都是新型产业，尽量避免和不投高耗能、污染，所以这个行业基本上这样，尽量避免，所以创业投资如果活跃的话，中国的经济结构就会优化，产业结构就会优化，整个经济的数值就会提高。我们回顾了这么多年的历程，实际上82个项目和73个资金都集中在高科技产业，剩余的也是服务业，包括农业，高耗能、易污染。

The second,We to the venture investment to the role of new industrialization,You see high pollution/Traditional production of leading role,But the venture investment portfolio areas are the new industry,Try to avoid and don't throw production/pollution,So the industry that basically,Try to avoid,So venture capital if active words,China's economic structure will be optimized,The industrial structure will be optimized,The whole economic numerical will improve.We reviewed the course for so many years,In fact 82 projects and 73 funds are concentrated in the high-tech industry,The rest of the service is also,Include agricultural,will/Easy pollution.

　　第三，我们看我们对企业处在什么也段进行支持，大家知道如果以企业进入资本市场做一个划线的话，企业可以分为初创期、成长期、成果期。那么创业投资的投资活动大部分集中在成长期，我想这样一种投资对整个企业的作用是非常大的，那么企业由于它有了资金，有了资金背后的一系列的服务脱颖而出。

The third,We see our enterprise in what also section to support,We know that if the enterprise into the capital market to do a marking word,Enterprise can be divided into initial/Growth period/Results period.So venture capital investment activity is centered largely in growth period,I think this kind of investment to the enterprise's role is very big,So enterprises because it had money,A money behind a series of service stand out.

　　第四，我们看到创业投资活动也促进了整个企业成长模式的转变，企业的成长模式我认为有三种：一种是靠智慧积累的，这是过去企业的成长模式。第二种是自我积累加烧钱，第三种是烧钱为主，我认为将来的路线就是第二种，这样一种路线是快速发展的路线，那么烧谁的钱，就是烧投资人的钱。

The fourth,We see venture investment activities also promote the enterprise growth pattern transformation,Enterprise growth mode I think there are three:One is by the accumulation of wisdom,This is the past enterprise growth mode.The second is self accumulation and burn,The third kind is burn is given priority to,I think the future route is the second,Such a route is rapid development route,Then burn who money,Is burning investors money.

　　第五，我们看到创业投资对转型升级的支持，创业投资现在也造成经济发展和企业发展的主旋律，我们总结这么多年的创业投资实践，我们往往在企业处在转型升级方面进行投资。大家知道全世界用得最好的企业是东莞的ED照明，前后有23家机构几年之内给资金的支持，一系列促进了这个企业的转型升级，这是一个非常光辉的创投支持企业典型升级的典型案例。

The fifth,We see of the transformation and upgrade of venture investment to support,Venture investment is now also causes the economic development and the theme of enterprise development,We summarize so many years of venture investment practice,We often in the enterprise in the transformation and upgrading of investing.You know the world use the best enterprise is the dongguan's ED lighting,There are 23 agencies before and after a few years to the support of capital,A series of promote the transformation and upgrading of the enterprise,This is a very glorious venture support enterprise typical upgrade of the typical case.

　　第六，促进企业的资本运作，造就上市公司的群体。过去的企业都是以产业经营为主，现在的企业一定是产业经营和资本经营相结合为主，那么谁来帮你做产业经营和资本经营的战略规划和实施，我认为最重要的是创造性，所以创投机构把企业带进了资本市场。实际上从2005年设立依赖，到目前为止我们投资的企业已经有86家企业，给这些企业通过资本运作，通过上市做大做强提供了一个非常好的机会。

The sixth,Promote enterprise's capital operation,Make the listed company group.The past enterprise are mainly industrial operation,Now the enterprise must be industry management and capital management mainly combined,So who will help you to do business and capital management strategic planning and implementation,I think the most important thing is creative,So venture capital institutions to enterprise into the capital market.In fact from 2005 establishment rely on,So far we investment enterprise has 86 enterprises,For the enterprise through the capital operation,Through the listed bigger and stronger provides a very good chance.

　　第七，通过促进企业的规范化运作，来加强国家整个的诚信建设，来促进和增加整个财政收入的来源，因为投资一个企业，创造投了要求企业规范化运作，那么其中有一个重要的方面就是按章纳税，那么企业规范化运作多了，所以你税收的来源就多了，而且是源源不断的。

The seventh,By means of the promotion of enterprise standardization operation,To strengthen the credit construction of the country,To promote and increase the financial sources of income,Because investment a enterprise,Create threw requests the enterprise standardization operation,So one of the important aspects in chapter is tax,So the enterprise standard operation,So you tax source is much the,And it is continuous.

　　第八，促进投融资平台的形成，实现资本的集聚。中国民间其实很有钱，大部分的钱不知道用在什么地方，如果我们把那些钱集中起来形成创投资金的话，我们会发现这些钱聚少成多，形成了强大的力量，招商引资有了新的路。举一个例子，比如说苏州，苏州是新创投政府建立成立的第一个城市，在这个政府引导成立以后，短短两年之内苏州成立了200多个，资产达到300亿支撑苏州中小企业的发展，现在苏州已经发展到了中国的创投之都之一，可见这种创投是民间资本牵引和示范的作用。

The eighth,To promote the formation of the investment and financing platform,Achieve capital agglomeration.China folk actually very rich,Most of the money do not know in what place,If we put the money together to form of venture capital focus words,We will find the money together into a much less,Formed a powerful force,Investment has a new road.An example,For example suzhou,Suzhou is the new venture government established the first city was established,In this government after the establishment of the guide,Just two years suzhou set up more than 200,Assets of 30 billion support the development of small and medium-sized enterprises in suzhou,Now suzhou has developed in China of vc one,Visible this venture is folk capital traction and demonstration role.

　　第九，创业投资可以促进企业之间，企业和政府之间的优化和整合。那么创投投资以后，企业和企业之间可以在客户端，在上下游，产业链实行有效的整合，他们和政府可以做相互之间的资源的整合来促进各方需求和各方的成长。

The ninth,Venture capital can promote between enterprise,Between enterprises and government optimization and integration.So venture investment later,Enterprises and between enterprises can be in the client,In the downstream,Industrial chain to carry out effective integration,They and the government can do between the parties of the integration of resources to promote the growth of demand and parties.

　　第十，我们认为通过创业投资，投资企业可以改善企业的股权结构，而这种企业股权结构的改善一定会提高企业在社会上的公信力和在资本市场的发展，在对企业的发展也是非常重要的。

The first ten,We believe that through the venture investment,Investment enterprise can improve enterprise's ownership structure,And this kind of enterprise ownership structure improvement will improve enterprise in social credibility and in the development of capital market,In the development of enterprise is also very important.

　　以上的第一个话题谈完了。第二个问题，创业投资现在的现状以及应该做了那些事情。

The first topic had finished.The second question,The present situation of venture investment now and should do those things.

　　创业投资已经告别所谓的全民PE和暴力时代，今年说半年创投的募资投笔下降了77%，创投的投资从投资金额来看比去年同期同比下降了63%。第三从创投退出的角度来看，IP0的退出数量和帐面回报下降了50%，所以这一系列的数字都说明创业投资处在一个调整时期，但是我不认为创业投资进入春天，我认为是在一个调整和洗牌时期，通过这样一个调整和洗牌，我们认为创业投资还有一个新的光明的前景。那么在这样一种情况下应该怎么办？我想在募资的环节，我们应该大型的推进资金的建设和企业主导的资金建设，在这一块我认为还没有真正发展起来，创投的政府引导资金规模力度比较小，支持有限，我们认为培育合格的理性队伍，而不是想天上掉馅饼这些投资人作为这个投资的领域。

Venture capital has to say goodbye to the so-called national PE and violence era,This year the need to recapitalise vc said half a year for pen dropped 77%,Vc investment from the investment amount to see than the same period last year dropped 63% year-on-year.The third from the point of view of venture capital exit,IP0 exit quantity and book returns fell 50%,So this a series of digital explains the venture capital investment in an adjustment period,But I don't think that venture capital investment into the spring,I think is in a period of adjustment and shuffle,Through such an adjustment and shuffle,We think that venture capital investment and a new bright prospect.So in this case should be how to do?I think in the need to recapitalise link,We should promote the construction of large capital and enterprise leading capital construction,In this one I think is not really developed,Vc government guide fund scale strength is small,Support co., LTD.,,We think of cultivating qualified rational team,Not want to heaven fell pie these investors as the investment field.

　　在投资环节主要是应该时时稳健的投资策略，要追求投资的质量而不是追求投资的速度，要把战略性新兴产业作为投资的聚焦的主战场，应该把投资的位置逐步前移，加大成长。在投资管理和服务的环节，我认为应该进一步加大服务能力，在增量减少的情况下，要在存量的服务管理上下功夫，通过这样一个管理服务，帮助企业度过难关，因为我们看到今年以来企业的经营碰到了很多的困难，这种困难如果进行有效的服务化，也就会延缓，甚至到消除，我们一直在强调作为一个创投机构应该把70%的精力运作投资后的服务，30%的服务才用作投资，我认为在这个时期我们至少用到80%的精力，用作投资后的服务，这样我们才可能度过这样一个比较艰难的时期。那么在退出的环节，应该坚持IPO为主的前提下，重视并购退出的结果，增加转让和重组的途径，另外重视新三板和各地股权交易场外市场带给投资机构退出的机会，也应该积极培育PE二级市场的投资机会。那么我认为要取消各种对二级市场的歧视政策，因为没有一个良好健康的二级市场就没有一个良好健康的一级市场，没有一个良好健康的一级市场，就没有广泛深入的创新创业市场，这是整个一链条，所以我们需要转变观念，建设一个好的二级市场，同时通过好的二级市场，推动整个国家的创新创业，这样我们的素质才可能提高，中国才可能从一个大国变成一个强国。

In the investment link is mainly should always prudent investment strategy,To pursue the quality of investment rather than the pursuit of investment speed,The emerging industry as strategic investment focusing the main battlefield,Should put the investment position gradually moved forward,Increase growth.In the investment management and service link,I think we should further intensify service capacity,In the incremental reduced circumstances,In stock service management fluctuation kongfu,Through such a management service,Help enterprises to pull through,Because we see since this year the enterprise the management met a lot of difficulties,This difficult if service effectively,Also will delay,Even to eliminate,We have been stressing as a vc institutions should have 70% of the energy operation after the investment service,30% of the service to used for investment,I think that in this period we at least 80% of the energy used,Used for investment service,So that we may spend such a difficult period.So in the exit link,Should insist on the premise of IPO is given priority to,Pay attention to the result of merger and acquisition of exit,Increase the transfer and recombination way,Also pay attention to the new SanBan and local equity transaction otc market bring investment institutions exit opportunity,Also should actively cultivate the PE secondary market investment opportunities.So I think it will cancel all kinds of secondary market discrimination policy,Because there is no a good health of the secondary market is not a good healthy level of market,Not a good healthy level of market,There is no extensive and in-depth innovative and undertaking market,This is the whole one chain,So we need to change the idea,To build a good secondary market,At the same time, through the good secondary market,Promote the whole country's innovation,So that we can improve the quality of,China can only from a big country become a power.

　　第三，加强以成都为中心的西部地区的创业投资者和资本运作的建设，逐步减少与东部地区的差距。我们看到四川省这几年创业投资取得了快速的发展，我看到的数字截止今年的5月份成都股权投资基金130，管理规模超过200个亿，我们也看到了设立的规模非常大的产业投资基金，我们也看到了像自贡还有很多城市也设立了政府引导性创投的基金，我们看到了这些发展和变化，但是同时我们也看到和东部地区相比差距还是非常明显的。可以告诉大家一个数据，去年以来光深圳一个城市就注册了一千家创投公司，再举一个例子，深创投是政府引导性创头基金的开创板，到目前为止已经管理50支政府引导性基金，在苏南一个地区就有9支，而在四川省，在成都市目前没有，有了一个还得而复失，这就是东部和西部的差距。

The third,Strengthen to chengdu as the center of the western region of venture investors and the construction of the capital operation,Gradually reduce the gap between the eastern area and.We see these years in sichuan province venture capital investment have made rapid development,I see digital globe this year chengdu equity funds in May 130,Management scale more than 200,We also see the size of the establishment of the very large industrial investment fund,We also see like zigong there are many cities also set up a government leading venture fund,We see the development and change,But at the same time we also see and eastern area compared the gap is still very obvious.Can tell you a data,Since last year the light shenzhen a city is registered vc firms,Take another example,Deep venture is the government leading and head of the fund a plate,So far have management 50 a government leading fund,In southern jiangsu a area and branch,But in sichuan province,In chengdu have no current,Have a still lost,This is the gap between the east and west.

　　我们再看四川省进入资本市场的地位，四川省在川南的上市公司现在有7家，占到总量的2%，虽然在西部地区名列第一，但是和东部的差距也是非常明显的，广东是76家，北京52家，江苏41家，浙江36家，我们再看四川省的上市公司数量是23家，这个占比比创投多一点3.3，这个比例与这样一个地位相比还是偏低。看广东是145家，浙江118家，江苏92家，山东57家。我列举这些数字说明虽然西部地区，虽然我们的四川有很好的进步，但是我们和东部相比，我们和资本运作发达地区相比还有很大的差距，我觉得首先应该正式这个差距，要找到差距存在的原因。因此我建议我们处在西部地区，首先应该是进一步转变观念。进一步提高对发展创业投资人，采取实实在在的措施，推进这个事业的发展，而不是计较得失。从企业的角度来讲应该建立一个更好的观念，比如说坚决做大做强的理念，而不是过小日子，比如说规范运作的观念，比如说吸引战略投资人的观念，比如说不断创新的观念，我觉得我们西部地区做企业还是要像西方不断加强，我觉得西部地区的企业的的确确比东部地区要差。

We'll see sichuan province into the capital market position,Sichuan province in south sichuan listed company now has seven home,Account for 2% of the total,Although in the west come first,But the gap between the east and is also very obvious,Guangdong is 76,Beijing 52 home,Jiangsu and home,Zhejiang 36 home,We'll see the number of listed companies in sichuan province is 23 home,This accounts for venture capital over a little more than 3.3,The proportion and such a position or low compared.Look at guangdong is 145,Zhejiang 118,Jiangsu 92,Shandong 57.I enumerated these figures show while the western region,Although we sichuan have very good progress,But we compared and eastern,We and capital operation compared to developed areas also has the very big disparity,I think first of all should be formal the gap,To find the reason of the existence of the gap.Therefore I suggest that we are in the western region,First of all should be further change the idea.To further improve the development of venture capitalists,Truly, truly, take measures,Promote the development of the cause,Not haggle over gain and loss.From the point of view of the enterprise speaking should establish a better idea,For example resolutely do bigger and stronger concept,Rather than doing a,For example the idea of standard operation,For example attract strategic investors idea,For example the idea of innovation,I think we do enterprise or the western region like western continuously strengthen,I think in the western area of the enterprise does better than the eastern region should difference.

　　第二，要推动政府引导创投基金的建设和发展，我们也看到凡是创投搞得好的地区，这个地区的发展企业比较好，资本运作比较好，结构转型好，经济素质提高好，所以我也是呼吁也建议四川省能够进一步实实在在的加强政府引导性创投企业建设，采取有效的措施来引资和引人，引资引人都非常好，同时我也认为在政府引导方面，现阶段应该引导企业进入资本市场为主，进入资本的市场带动没有进入资本市场的企业继续进入，以引导为主，我认为钱多的地方，而在钱不够企业上市数量少的应该先引小企业进入资本市场。

The second,To promote the government guide venture fund construction and development,We also see those who venture to get good area,The region's development enterprise is better,Capital operation is better,Structure transformation good,To improve the quality of economic good,So I am also called on also suggested that sichuan province to further strengthen the government leading, creates throws the enterprise construction,Take effective measures to investment and attractive,Attractive investment is very good,At the same time I also think the government guide aspects,At the present stage should guide enterprise to enter the capital market is given priority to,Enter the capital market drive without access to the capital market enterprise continue to enter,To guide is given priority to,I think more money place,And in enough money enterprise listed small number of should first lead small businesses into the capital market.

　　第三能够采取积极的措施推动企业的上市，这个方面从政府和投资银行大的领域都应该尽自己的努力，特别是四川省的投资非常重视，我们也希望政府方方面面给予基金推荐项目，我们在成都有分支机构，也可以调全国的投资经理来成都，四川省寻找投资机会，来支持西部的发展。

The third can take active measures to promote enterprise listed,This aspect from the government and investment Banks large areas should do their own efforts,Especially in sichuan investment very seriously,We also hope that all aspects of government to fund projects recommended,We have branches in chengdu,Also can you adjust the investment manager to chengdu,Sichuan province looking for investment opportunities,To support the development of the west.

　　谢谢大会给我这个机会来选择创业投资，谢谢大家！

Thank you for congress to give me this opportunity to choose venture investment,Thank you!