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Dacheng Attorney Interviewed by Global Times over Crowd Funding

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On July 15, 2014, Beijing-based senior partner Gao Mingfei was interviewed by Global Times over four questions in connection with crowd funding. The questions were as follows: first, how Gao understand crowd funding; second, outstanding problems in crowd funding matters Gao is currently advising on, causes of such problems and solutions; third, illustrate such problems with examples; and last, whether there is any law or agencies to regulate crowd funding and Gao’s suggestions. 

Early this year, Gao was retained as standing legal counsel for Crowd Funding (Shanghai) Assets Management Co., Ltd. which targets on consumer products and conference crowd funding. So far, the crowd funding platform has performed remarkably: within 15 days since a Tesla Motor project was launched, over 400 orders were placed; on the second day following a conference crowd funding project, a participating public company’s share price hit a daily limit and its market cap rocketed from RMB18bn to RMB22bn.

At present, Gao and her team is actively involved in researches over equity crowd funding model with the above-mentioned crowd funding platform and are also delving into internet finance issues surrounding P2P and third-party payment.