3. applications 3.1. Venture Capital Popular mechanisms: staged financing, options, convertible securities, warrants, board representations, voting rights, IPO Importance: E. g, in Jiangsu province, 99% of firms, 80% of output and 65% of labor depend on venture capital 3. 2. Foreign direct investment ·合资,合营,合作,独资, franchising, outsourcing Purpose: understanding and policy analysis 3.3. Private-Public Partnership Purpose: partial privatization for roads, bridges, tunnels, rail ways, water, electricity, rli Mechanisms: ownership arrangement, regulation, tax incentives, price control, lease purchase guarante Page 5 of 5Page 5 of 5 3. Applications 3.1. Venture Capital • Popular mechanisms: staged financing, options, convertible securities, warrants, board representations, voting rights, IPO • Importance: E.g., in Jiangsu province, 99% of firms, 80% of output and 65% of labor depend on venture capital 3.2. Foreign Direct Investment • 合资, 合营, 合作, 独资, franchising, outsourcing • Purpose: understanding and policy analysis 3.3. Private-Public Partnership • Purpose: partial privatization for roads, bridges, tunnels, railways, water, electricity, airlines • Mechanisms: ownership arrangement, regulation, tax incentives, price control, lease, purchase guarantee