雖然2018年中國電影票房突破600億大關，但由於其高投入、高回報、製作週期 長的特點，電影製作公司普遍面臨資金匱乏的窘境，尤其是新創企業，難以從市場上籌 集資金。快速發展的群眾募資，逐漸受到中小型電影公司的關注，吸引了眾多參與者， 但是由於法律制度的不完善和缺乏市場的監管，信息不對稱、道德風險和非法集資等問 題不斷出現，2017年中國群眾募資行業進入瓶頸期，發展速度放緩。
本文以電影產業群眾募資運行模式为研究对象，首先說明中國電影產業出現的困境 及成因，其次介紹群眾募資產業的發展狀況和特點，詳細闡述了兩者結合的必要性和創 新性。運用案例分析法和對比分析法研究發現中國群眾募資產業亂象叢生的原因在於缺 乏監管和市場規範，借鑑英美的法律法規可以有效減少非法集資和違約欺詐的現象，除 了政府要加強監管之外，群眾募資行業還要加強行業自律，所以本文從群眾募資平台、 發起人、贊助人的角度提出了監管建議。

Although the box office of Chinese films exceeded the 60 billion yuan in 2018, owing to the films’ high investment, high return and long production period, the film studios still face the dilemma of deficient funds, especially for venture companies which are difficult to raise funds from the market. Crowdfunding, developed rapidly, has gradually attracted the attention of small and medium-sized film companies and many participants. However, as there are many problems emerging continuously, like the imperfection of the legal system, the lack of market supervision, the asymmetry of information, moral hazard and illegal fund-raising, Chinese crowdfunding in 2017 entered a bottleneck period and its development speed slowed down.
This paper takes the crowdfunding operation mode of the film industry as the research object. Firstly, it explains the difficulties and causes that China's film industry has emerged. Then it introduces the development status and characteristics of crowd financing, and elaborates the necessity and innovation of their combinations. By the means of case analysis and comparative analysis, it is found that the reason for the disorder in China's crowdfunding industry results from the lack of supervision and market norms. Taking example of the laws and regulations of Britain and the United States, the phenomenon of illegal fund-raising and default fraud can be effectively reduced. Besides for strengthening the government's supervision, the crowdfunding industry should also regulate industry self-discipline. Therefore, this paper puts forward supervision suggestions from the perspectives of crowdfunding platforms, project initiator and individuals.

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