Dacheng senior partner Gao Mingfei answers questions on crowd funding

On 15 July 2014, Dacheng senior partner Gao Mingfei, who is based in Beijing, was interviewed by Global Times in connection with crowd funding.

Mingfei was asked to explain her understanding of crowd funding. She was also asked about any outstanding problems in crowd-funding matters that she is currently advising on, as well as the causes of such problems. Mingfei was asked to illustrate such problems with examples.

Finally, she was asked whether there are any laws or agencies in place to regulate crowd funding.

Earlier this year, Mingfei was retained as standing legal counsel for Crowd Funding (Shanghai) Assets Management Co. So far, the crowd-funding platform has performed well: within 15 days since a Tesla Motor project was launched, more than 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 (£ 1.7bn) to RMB22bn.