TITLE:
Review of the Domestic Crowdfunding Industry Development
AUTHORS:
Defeng Yang, Xueli Zhang
KEYWORDS:
Crowdfunding, Platform, Financing
JOURNAL NAME:
Journal of Service Science and Management,
Vol.9 No.1,
February
17,
2016
ABSTRACT: 2014 was called “the first year of the crowdfunding in China”. The State Council executive meeting on Nov. 19, 2014 put forward that we must establish a rapid refinance mechanism for capital markets, trying to launch equity crowdfunding. In December, the Securities Association of China solicited opinions on management measures of the private equity crowdfunding, which boosted the crowdfunding into the “fast track”. A lot of crowdfunding platforms appeared including the three giants (Jingdong, Taobao, Suning). The three giants occupied most of the market share. Other platforms constantly followed. Domestic crowdfunding industry has entered the flourishing mode. This paper analyzes the domestic developments of various crowdfunding platforms.