On December 4, 2016, the Launching Ceremony of Green Legal Global Alliance & Seminar on "Building a Green Three-dimensional Legal Ecology Circle" sponsored and hosted by Beijing DOCVIT Law Firm kicked off in Beijing. Beijing E-Town International Investment & Development Co., Ltd. is the representative of supporting institutions of the Alliance, as its general manager, Mr. Tang Xuefeng attended the ceremony and delivered a keynote speech at the seminar.

First of all, it is an honor to participate in the activities of Green Legal Global Alliance. In the past, I participated in a lot of activities in the investment circle, and today is the first time for me to participate in the activity with so many legal related workers, experts and tycoons. First of all, a brief introduction to myself, the company I serve is E-town International Investment, it is a wholly state-owned enterprise in Beijing Economic and Technological Development Area, industrial investment and fund investment is one of the main businesses of E-town International Investment.

Today I participate in the meeting of Green Legal Global Alliance mainly on behalf of BVCISA, BVCISA is a corporate organization initiated and established by E-town International Investment, China Equity Group and other institutions. The current total number of members is more than 110, the member units are mainly government guiding funds, fund management companies, investment institutions and so on. Lawyer Liu Guangchao of DOCVIT is the supervisor of BVCISA, he is responsible for the risk control and standard formulation for the development of BVCISA. Since the establishment of the venture capital alliance, lawyer Liu has participated in a lot of activities of BVCISA, provided a lot of support, and gave a lot of valuable advice.

Today, all of you here are experts and scholars from law circle, I will share a few personal points of view combined with legal advice based on experience in venture capital field, please refer to the correct.

First, the Green Legal Global Alliance is a platform initiated mainly by legal profession, and it is very necessary for the venture capital industry to gain support from legal workers. For example, in the venture capital industry, especially institutions and practitioners engaged in fund investment and industry investment, in the process of due diligence, some institutions complete independently, while others complete by law firm, often there is no uniform standard among them, even when different fund management institutions carry out due diligence on the same project, especially the legal due diligence, because the level, quality and methods are different, sometimes the results of due diligence will be quite different. In the field of the investment industry, if a voice is raised through the organization of the legal workers and some instructive norms for due diligence in the investment circle are put forward, it may prompt new practitioners of the industry to become more professional and standardized in legal due diligence.

Second, Green Legal Global Alliance Research Institute can spare no efforts to conduct studies on some of core provisions of the investment agreement in the venture capital industry. Because the technical level of different investment institutions in this aspect is quite different. In some contracts or investment agreements, the general terms take up most of the space, while the risk control clause is very short; for some relatively mature investment institutions, the structure and logic of its investment agreements are very clear, but the risk control terms take up a lot of space, including some very important provisions for risk disposal.

There are many law firms in the platform of Green Legal Global Alliance, as well as a large number of venture capital class customers. If we can make full use of legal resources through this platform, sort out the key terms involved in the past business docking, form a standardized textbook or publication and sort out the risk control terms used by investment institutions from the perspective of risk control, then the growing investors can select the adoptable contract content in this menu and enhance the specialization degree of their investment institutions in the legal field. It is a very meaningful work for research institutes of or on the platform can gather strength to try.

Third, dispute resolution. The investment industry involves several main bodies, including LP, GP, the invested projects and so on. There are frequent business activities among the three main bodies, so there may be a lot of risk matters, contradictions or conflicts. How to coordinate and solve these problems through non litigation methods may be the important aspects of the platform to provide support, and this is also the missing service in the domestic venture capital industry.

Finally, it is recommended that the Green Legal Global Alliance and BVCISA can interact more in the future, build more intersections and contacts among professional legal workers with investors or entrepreneurs who are active in venture capital circle, enhance practitioners' legal and risk awareness and add some effective tools and means for practitioners in risk control. In the future, cooperation between the two sides can contribute professional services in law to start-ups and innovation in wider areas and fields.

The above are a few suggestions mainly from the perspective of investment industry practitioners for your reference.

Thank you very much!