The experience of the Silicon Valley in the US, and of Israel reveals that venture capital is the engine and booster of the innovative economy. In promoting the structural adjustment of the regional economy and sustainable development through proprietary innovation, venture capital will play a pivotal role. How can we create an environment that is conducive to industrial development? How can the investment environment be improved to attract domestic and international venture capital? What are the new directions of the 11th Five-Year Plan for regional development in terms of the economic environment, industrial policy, and investment hotspots?

Governors in charge of science and technology from main regions of China and world-renowned venture capitalists will share their valuable ideas on the new trends of regional economic development; discuss how could regional economic benefit from international capital in boosting the regional and innovative economies.

The Chinese stock market has been up and downs over the decade. What are the prospects of share reform? How can the regulation be improved to allow the Chinese stock market to become more internationalized and more market-oriented? How can the domestic market attract top performers for IPOs and companies listed overseas for re-financing? How far are the Shanghai and Shenzhen Stock Exchanges from venture capital exits?

Leading experts and insiders from the industry will provide us the answers.

The healthy development of venture capital is conditional on the continuous improvement of the investment environment. In the second half of 2005, the long-expectedInterim Regulations Concerning Venture Capital Businesseswere jointly promulgated by 10 ministries, indicating that government-guided funds and financing and taxation preference policies will soon be in place. Additionally, share reform will be implemented all round, with the medium- and small-sized enterprise board taking the lead to realize full tradability to open an exit channel for venture capital and facilitate mergers and acquisitions. TheCorporate Lawand theSecurities Lawhave also been revised to lower the threshold for IPOs and provide legal protection for the creation of the second board. A multi-level system of capital market is taking shape, and China's venture capital is facing a new round of development.

Policy-makers and experts from National Development and Reform Commission, Ministry of Science and Technology, Ministry of Commerce, Ministry of Finance, State Administration of Taxation, State Intellectual Property Office and Stage Administration of Foreign Exchange will interpret the developments in China's venture capital policies and legal environment.

A second board provides an ideal exit for financing and the growth of innovative businesses and venture capital funds. With the continuous improvement of China's medium- and small-sized enterprise board and the emergence of a second board, China's venture capital institutions and invested businesses can choose from the Shenzhen Medium- and Small-Sized Enterprise Board, Nasdaq, AIM of the UK, the Growth Enterprise Market of Singapore, and the Growth Enterprise Market of Hong Kong.What are the respective financing capabilities, market orientations, and service concepts of these five markets?

What are their competitive edges, listing criteria, rules and procedures for approval? Is there any difference in listing costs? How does a start-up choose the most appropriate second board?

Senior marketing executives of the second boards which provide financing platforms for the startups from Shenzhen, Hong Kong, USA, UK, and Singapore will share with us their valuable experiences and ideas.

China has become the engine of the world's economic growth, making itself the center of attention of global entrepreneurs for its vitality and innovation. Indeed, China has changed and will continue to change the flow of global venture capital. However, giant LPs seem to be hesitant at the door of China. What are they waiting for?

Additionally, China's social security funds and insurance funds have accumulated huge amounts of capital. Where is the outlet for these funds? Is it possible to invest some of these funds in China's emerging venture capital industry?

The Forum will examine, from the perspective of the international layout of LPs, the investment opportunities in China and the country's competitive advantages, analyze the conditions and requirements for creating a venture capital fund with China as its investment target, and explore how to improve the entry system for foreign capital and set up a venture capital parent fund at the central government level.

The forum will invite senior executives from the National Council for the Social Security Fund, China Insurance Regulatory Commission, Torch Center of Ministry of Science and Technology and 3-4 partners from international LPs to share their excellent insights.

Equity trades and listing through shell companies provide an important channel for business financing and venture capital exits. With the major domestic equity markets taking shape and the strategy for proprietary innovation gaining foot, equity trades have been put onto the fast track of growth. How can businesses find a way to promote the interaction between capital and technology through equity trades? What model should equity trades adopt? Listing through shell companies is an indirect financing channel taken by visionary entrepreneurs and large businesses as a shortcut to entering capital markets. What are the rules of listing through shell companies and what are the risks? How can an optimal model of capital operation be chosen?

Presidents from Equity Trade Centers of Beijing, Shanghai, Shenzhen and Xi'an and leading experts and insiders of the industry from abroad will tell you the secrets.

The favorable policies implemented in the second half of 2005 have ushered in a new round of quick and healthy development in China's venture capital industry. In the three economic regions of Beijing and its neighboring areas, the Yangtze River Delta, and the Pearl River Delta, "TMT" (technology, media and telecommunications) is the key word with the highest hits among venture capitalists. IC, Internet, mobile added-value, and IPTV - which will become the target of venture capitalists in 2006? What sub-industries will emerge? In the meantime, with the sustainable growth of China's GDP and national disposable income, traditional industries are beginning to revitalize in this huge market. Venture capital is not confined to high-tech industry; it belongs to the market. Without doubt, some have identified the trends and are ready for the business opportunity and challenge. Leading experts and insiders in China's macro-economic and industrial economic and presidents from foreign VCs will reveal their reasoning at the Forum.

A better understanding of the environment, more government resources, more information, and more opportunities are the major advantages of local venture capitalists. But overseas venture capitalists have more international experience, better skills in operation, and stronger financing capability. This creates a huge potential for cooperation and development. The Forum will invite leading domestic and international players to share their valuable ideas on the following important issues: how can overseas venture capital institutions enter the Chinese market, how can they cooperate with local venture capitalists, and how can they identify the optimal model of cooperation.

The Chinese M&A market has seen tremendous development in recent years in terms of numbers and amounts, making itself the center of global attention. With the deepening of the modern economy, to be acquired by a large business has become an important exit for venture capital as well as an effective means of making start-ups big and strong. What is the strategy, technique, and process for M&A? What is China’s policy and legal environment? Where is the gap compared with overseas mature markets? Speakers from world-renowned investment banks, lawyer’s firms, accounting firms, and investment institutions will share with us their valuable experience.

The internationalization of venture capital has become an integral part of the world’s economic integration. How does venture capital flow among different countries and regions? Which area of venture capital will have the largest impact on China? How do the global venture capitalists look at China, and what are their investment strategies and models? Which industries and fields does international venture capital focus on? What kind of governance structure, profit model, and management team are more appealing to venture capital? How can we construct a unique Chinese business model to win the opportunity to cooperate with global financial institutions in assets and wealth management? International venture capitalists will provide us with in-depth analysis from macro to technical issues.

The investment size of domestic and overseas venture capital funds is different when they invest in businesses in the early stage. The typical investment amount ranges from US$1.5 million to 5 million for overseas venture capital funds, and from RMB3 million to 10 million for domestic venture capital institutions. How do domestic and international venture capital institutions and funds choose businesses in the early stage? In which industries do they tend to invest? The Forum will invite senior partners and executives from venture capital institutions to share with us their valuable knowledge and experience.