Preliminary Study On The Design Of Financing Mechanism Of Regional Marine Industry

After the Reform and Opening, as a new growth point of the national economy,the contribution of China's Regional Marine Economy to the growth of regional economy of eastern coastal areas has become bigger and bigger. The development of Marine Industry pushes the regional economy and industrial structure forward effectively. The coastal areas should establish Industrial Support System for the development of Marine Industry.The development of Regional Marine Industry needs the support of a well-functioning Financing Mechanism because of its huge demand for capital. Out of regard for the development of regional economy, the financing of Marine Industry is effective and necessary for Regional Marine Industry to readjust industrial structures and push regional economy forward. For these economic and financial characteristics such as high risk, strongly professional, vast capital demand and slow capital return, it is difficult for Marine Industry to raise enough funds in need. To solve these problems, an effective financing mechanism should be designed according to the economic characteristics and financial need of Regional Marine Industry.The empirical analyses on china's current situation of Marine Industry'financing shows some problems such as narrow financing channels, improper financing methods and defective industrial insurance system. The funds source and financing methods differ much during different types of industries. Some industries, such as ocean fishery and shipping industry,and Small & Medium Sized Cos have great difficulties in raising funds. The reasons partly lie in China's financial market, and partly come from the economic and financial characteristics of Marine Industry. But the conflict between the characteristics of Marine Industry'financial need and its financing background holds the major responsibility.These countries and regions such as Germany, Japan and China's Taiwan province have solved the financing problems of Marine Industry through well-designed financing mechanism. Drawing lessons from their successes, China's design of financing mechanism should pay a great attention to the efficacy of supporting policy system, choose proper financing methods and make great use of financial innovation.Considering the financing need and financing background of Regional Marine Industry of China, the Regional Marine Industry Fund could be established as a permanent mechanism to solve the financing problem of Regional Marine Industry. Firstly, the functioning of venture fund could break the financing barrier between Regional Marine Industry and financing market. Secondly, based on the development strategy of Regional Marine Industry and regional economy, special function and operating mechanism are designed for Regional Marine Industry Fund, so the fund become an integrated financing mechanism whose functions including funds raising, industrial insurance, financing and information service, industrial guidance. As a result, besides meeting financing need of Regional Marine Industry, the fund can also offset industrial risk, impel the readjustment of the industrial structures and industry layout, and push regional economy development, the integration of marine and terrestrial industrial economy forward.