明确监管制度框架 促进投贷联动业务发展

Abstract:In essential，emerging business of investment and loan linkage in bank in recent years，compensates losses from the risk of loan in technology-based start-ups at the expense of equity investment profits.As an innovation of financing forms to resolve the difficulty in obtaining loans of technology-based small and medium-sized enterprises，investment and loan linkage is a positive initiative required by “transformation development driven by scientific and technological innovation” policy. It is also a key breakthrough to promote integrated managements pilot and achieve self-transformation development in banking industry on the premise of compliance with laws and regulations. On the basis of comparison with and reference to the laws and regulatory regimes involved with equity investment in banks in USA and Japan，this paper clarifies the current relevant laws and regulatory constraints of the business of investment and loan linkage in domestic banks. Subsequently，after comparison and analysis of primary modes to establish that business in domestic commercial banks，this paper indicates that in order to implement regulations to aforementioned business，following principles should be abode by：firstly，establishing and promoting deliberately directional pilot；secondly，managing specialization；thirdly，persisting in principle of risk compensation by compensating loan which is fundamental with investment profits；fourthly，fulfilling isolation of risk and risk management effectively. The report ultimately enumerates 4 specific proposals regarding with the institutional arrangements and implementation processes to supervise the business of investment and loan linkage.

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