The Construction of Continuing Supervision System of Crowdfunding Platform in China from the Perspective of Legal Position
Abstract：With the continuous development of e-finance，taking internet as the media and innovative finance as the carrier， crowdfunding，as the new representative of e-finance innovation，breakthroughs the barriers in traditional financing，such as the narrow territory，the long time of period，and the centralized risk，and provides a new way to solve the financing problems for start-ups and SMEs；it also provides the investors with a new investment channel. However，because of the lack of related laws and regulations，there are so many cheating problems with this industry. To effectively solve the problem of information asymmetry and standardize the operation and management of related enterprises，we should strengthen the construction of continuing supervision system. At the staring up stage of project，we should optimize the screening mechanism；at the stage of financing，we should strengthen information disclosure，and separate project capital from platform capital；and at the stage of after-financing，we should strengthen the continuing information disclosure and guarantee the investors’right.
Key words：crowdfunding platform；legal status；continuing supervision