| To choose the leading industry remains the core issue in the regional economic development and industrial restructuring. Kuznets believes that in the course of modern economic growth, importance must be attached to the changes of proportion of every industry sector in GDP and total resources as well as the speed and magnitude of such changes. Leading industry refers to the one that can play a leading role in regional economic development, compared to other industries, through different stages of economic development of a particular region. Leading industry should have broad market prospects, strong technology advancing capacity and great influence on industry spread. In theory, as an important component of the theory of industrial structure, the choice of leading industry is the inherent requirements and results in the continuous development of productive forces, as well as the organic integration of industrial development theory and regional economic theory in the context of constant innovation and development of macroeconomics. In this process, industrial structures, government actions and policy orientation will have an affect on the government's choice of regional leading industries.In 1980's and 1990's, by learning from the leading industry theory in the West, China achieved great results in choosing its leading industries and supporting their development. However, when all the regions began the choosing and implementing of their leading industries, difficulties occurred. For example, leading industries chosen by various regions were similar to each other and the division of labor and resources among regions was not clear, etc. As a result, in the subsequent period of time, many regions gave up the intention to choose a leading industry. In this regard, our theoretical workers have not given up, still making unremitting efforts. Some scholars put forward the concept of regional leading industry, and actively explore the differences from the national leading industry. They further reveal that the failure in choosing regional leading industries is due to lack of effort to distinguish fundamentally between regional and national leading industries. Rather, we have simply applied the Western theories in choosing our regional leading industries, resulting in a similar leading industry among various regions. In addition, some scholars have put forward some relevant principles, benchmarks and indicators according to China's national conditions and proposed some methods and index system in this regard. However, these studies are mostly limited to the theoretical level, rarely deepened into the practice.This paper is based on the basic theories in industrial economics, regional economics and development economics. We focus our research on how to choose a regional leading industry, which is an attempting study in a cross-cutting area of economics. Based on the systematic combing of relevant studies, the paper re-defined the content of regional leading industries. It is a study combining three dimensions—region, industry and time. By doing this, we give a detailed analysis of the mechanism in forming and driving regional leading industries, point out the conditions and driving forces of choosing regional leading industries as well as the path in doing so. Also, we have studied the mechanism of radiating effect of leading industries.Adopting the comparative research approach, we summarize, compare, analyze and evaluate the relevant theoretical studies on the choice of leading industries both at home and abroad. In consideration of the limitations in the current theories in this area, we propose a new point of view and ideas. Combining the characteristics of the differences between regional economic development and national economic development, we make a research on the indicator system of choosing leading industries on the basis of the general theoretical analysis of indicators and their grounds. And we find that the evaluation of the economic benefit of leading industries in the area should be taken in 4 aspects, namely, financial analysis, economic analysis, economic impact and uncertainty analysis, all of which should be studied comprehensively. Besides, the evaluation should utilize various kinds of industrial planning approaches to make quantitative analysis and choose the appropriate industries. All of this provides arguments for economic rationality and financial sustainability. It also provides empirical analysis for the industrial structure optimizing in Tianjin downtown area and Binhai New Area by industries selection.In the end, this paper presents the policy proposal that from the perspective of implementing industrial policies, choosing the leading industry cluster is the foundation for the improvement of regional leading industry. Policies in leading industrial development are an integrated body containing choosing, cultivating and developing the leading industries. The selection and development of leading industries in Tianjin should take into account the actual situation and start from improving the development planning, selecting investment priorities, cultivating self-organizing ability, etc. It's aimed to form a complete system of leading industrial policies as to promote industrial upgrading and develop the regional economic nicely and quickly. Meanwhile, in the process of industrial restructuring, industrial policies played a crucial role. Developing practical, forward-looking and systematic industrial policies can speed up the process of industrial restructuring and ensure the effects industrial structuring should have, thus being very important. This paper states that the significance of industrial organization policies lies in achieving a desired market effect by government intervention. Considering the status and characteristics of Tianjin industrial structure, we aim our priority in industrial organization policy on the all-around promotion of reform and opening-up progress, the establishment of a sound market economic system, realization of industrial restructuring and optimizing. As for the industrial structure policy, the priority in the supportive policy for leading industries should be aimed at preferential support, focused breakthrough, meticulous care and development, and forceful promotion of industrial optimizing and upgrading.
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