Concerning the current situation of our country , this thesis researches how to build and perfect the management and transaction mechanism , submits taking the limited partnership as the main form of venture capital fund , and building a multiple - unit finance market formed by the main board , second board and otc , and there is a in - and - out mechanism in the multiple - unit market 结合我国国情，本文对建立我国风险投资的运作机制进行了构想，提出了建立以“有限合伙制”为主导形式的风险投资基金及把场外交易市场、创业板市场和主板市场有机结合，形成具有升降机制的多元化资本市场的建议。
Simultaneity , it reviews the development skeleton , status of floatation and trading market in china in recent years . it also summarizes that the united states corporation bond will give us a lesson in the respects of sound legal market , market behavior , out of the counter and organization investors etc . consequently , the paper analyses the factor of restricting the corporation bond in our country from the following four aspects 同时，回顾我国企业债券市场的发展脉络及近年来我国企业债券发行市场的发展状况和流通市场的发展状况，并总结出美国公司债券在发行和交易中健全的法规、发行中的市场行为、设立场外交易市场和以机构投资者为主等方面值得我国在今后的企业债券市场发展中借鉴。
In addition , the development of different levels of technology and property rights exchanges throughout china has provided a vital platform for the venture capital institutions . among the exit methods via merger and acquisition by venture capital investment in china , the most important one is through the sale of the invested companies to listed companies . the listed companies in china are qualified to become the major undertakers or acquirers of the companies invested by venture capital 最后，笔者得出的基本结论是：在我国当前的经济与制度环境下，从创业投资的退出方式来看，应建立以并购为主的退出机制，应从政策上对并购行为予以扶植和引导，以便营造出一种有利于企业并购的市场环境；从创业投资的退出场所来看，以技术产权交易所为代表的场外交易市场值得大力推广和发展。
The second is the market infrastructure , which includes the trading platform exchange - traded or over - the - counter ; the payment , clearing , settlement and custodian arrangements ; and , importantly , the framework whether or not involving a formal regulatory regime that safeguards market integrity and therefore sustains market confidence 第二是市场基建，包括交易平台交易所或场外交易支付结算交收及托管安排，以及最重要的是无论是否透过正规的监管，都必须有健全的市场架构，以维系各界对市场的信心。
And the author advises that the criminal legislation on security crime of china should be completed from the following respects : ( 1 ) the improvement on the system of security crime , which includes the increasing of name of security crime and rearrangement on terms of security crime . the author thinks that some new security crimes should be prescribed in the criminal legislation on security crimes , especially about security crimes happened during curb exchange , during short - line exchange , during the use of security fund . ( 2 ) the improvement on the ways to undertake criminal responsibility of security crime 笔者根据现实生活中存在的严重证券违法现象，提出在现行《公司法》 、 《刑法》 、 《证券法》规定的证券犯罪的基础上增设一些证券犯罪，尤其是在目前的证券市场中比较猖獗的场外交易犯罪行为、短线交易犯罪行为以及改变募股资金用途犯罪行为，除此之外，还应当规范各个证券犯罪条文，使其互相照应。
