Study On The Route Of Industrial Structure Upgrading Supported By Development Finance In Hubei Province

During the tenth-five year plan, the industrial structure adjustment is the main stream in the process of economic development in China, and it will further adjust industrial structure during the eleventh-five year plan. The development of regional key industries and industrial structure upgrading have become an urgent issue for both government and academia. This thesis reviews some concepts including pillar industries, leading industries and strategic industries firstly, constructs the evaluation index system of leading industries, selects the current leading industries in Hubei province, and brings forward the countermeasures of development finance support for Hubei industrial structure upgrading, based on the depth investigations on the situation of Hubei industrial development. This study has important significance both theoretically and practically.In this dissertation, the author argues that the dominant route of the industrial structure upgrading, supported by development finance, is supporting the conversion of leading industries. That means the development finance should emphatically support the strategic leading industries to grow into the leading industries rapidly, and quit from mature industries. Since the tenth-five year plan, Hubei province has kept a sustainable and stable economic growth, improved economic efficiency steadily, but Hubei is facing severe pressure from the upgrading of the industrial structure. The conversion of leading industries is one of the important paths to industrial structure upgrading. Leading industries refer to these industries which could grow highly, have a high rate of innovation, play a significant and crucial role in guiding and promoting the industrial structure upgrading, spur the economic growth strongly, and may grow into pillar industries during a certain stage of economic development. The new industry which will become a leading industry or a supporting industry is named as the strategic industry. The new leading industry that drives the breakthrough of national or regional economic growth, and plays a positive, long-term, overall role will be known as the leading strategic industry. With greater growth potential, good relevancy to other industries and high growth rates of productivity, the leading strategic industry lies in the critical point, will grow into the leading industry and further develop into the supporting industry after training and supporting.After a lot of data processing, this thesis selected out the current leading industries of Hubei province, and subdivided them into strategic leading industries, general leading industries and pillar leading industries. The pillar leading industries of Hubei are manufacture of transport equipment, manufacture of chemical fibers, smelting and pressing of ferrous metals, mining and processing of ferrous metal ores. The new leading industries or strategic leading industries of Hubei include manufacture of communications equipment, computers and other electronic equipment, manufacture of medicines. The development of strategic leading industries need the development finance supports more. China Development Bank could provide development loans, venture capital, credit guarantees, reorganization of assets and so on to support the development of Hubei strategic leading industries, and withdraw from mature industries and declining industries in succession.