【正文】 ame restricting factors of the longterm development of China private equity investment industry. Compared to the history of private equity markets abroad for decades, the development time of China private equity fund, whether security or equity investment, is very short. The training for advanced professional talents required by the private equity investment industry has barely begun. Therefore, with such fast development of private equity investment, the talent bottleneck stands out. This paper will firstly analyze the reasons of the lack of GP in China private equity investment, then discuss the risks caused by the lack of GP. Based on this, the paper puts forward some relevant policy Suggestions. THE REASON OF THE LACK OF GP(GENERAL PARTNERS) The lack of GP is considered as a specific economic phenomenon in China, it is not a universal one. The GP’s lack can be explained from the two aspects including demand and supply. One is the excessive demand on investment, the other is the insufficient supply of investment tools and investment goods. The GP’s supply, which is associated with the supply side, can’t meet the growth of the market demand. the reason of the lack of GP is mainly reflected in the following aspects: 1. the Imbalance of Economy Development In the course of early economy development, the development of the real economy is put emphasized on, the virtual economy development is lagging behind, so there is no GP’s living space. And It also caused the imbalance in the supply of GP and LP. On the one hand, the development of the real economy forms a large number of potential supply of LP (the second reason in the later)。s private equity business. This paper39。 畢業(yè)論文外文資料翻譯 題 目 普通合伙人在私募股權(quán)基金 投資業(yè)務(wù)的缺乏研究探析 究 學(xué) 院 經(jīng)濟學(xué)院 專 業(yè) 金融學(xué) 班 級 金融 0912 學(xué) 生 李廣輝 學(xué) 號 20202221507 指導(dǎo)教師 張偉 二〇一三 年 四 月 十九 日 濟南大學(xué)畢業(yè)論文外文資料翻譯 1 Journal of Chinese Economic and Business Studies, 2020,6(3):1013. Study on the Lack of the General Partner in the Private Equity Business WANG Jinghua Abstract: This paper firstly points out the phenomenon and reason of the lack of the general partner (GP) in China39。s contribution is to discuss the PE’s risk and its controlling from a new Angle. The conclusion is that the GP lack is a special phenomenon in the PE development, and the lack will produce many risks, so we should implement various measures to develop GP. Key words: Private equity, General partners, General partners lack Introduction Early in the development of private equity investment trust, one of the more mainstream view was that it was a realistic choice of the private equity industry (Li Jianhua, 2020。 on the other hand, the delayed development of virtual economy leads GP supply shortage. In recent years, the development of the capital market and virtual economy not only promotes forming a large number of LP, but also trains a number of securities investment funds and their corresponding senior manager. But from the strict perspective of PE, they are not full sense of the GP. Because the private equity investment not only includes securities investment, but also other risk investment business. Therefore, with the rapid development of PE, some original securities investment funds and their executives are starting to turn to PEbusiness, even so it cannot meet the needs of GP from PE funds. Lagging Development of the Private Equity Market From the proportion of private equity fund investment in the GDP annually, the United States’s private equity fund is % of GDP for the year, the European’s and the Asia’s is 濟南大學(xué)畢業(yè)論文外文資料翻譯 3 % and % respectively, while in China the ratio is less than %. GDP in China is 3 times that in India and in Australia, but the size of the private placement market is generally close to theirs. Currently, more than 95% of the private