Analysis Of Factors Affecting Financial Support For Science And Technology Industry Development And Policy Recommendations

In the modern economy, with the ever-changing modern science and technology, the high-tech industry is developing fast, and this inevitably calls for a financial participation. Financial support for science and technology industry has become the trigger and accelerator. Development of technology industries of any country, must rely on the strong financial support to achieve the close combination of tech capital and financial capital. Therefore, Financial resources and technological resources, the two most active factor productivity, is an unprecedented level of integration into each other and promote each new stage, which more and more deeply affected and changed the international economic situation and national economic development outlook. At present, China's financial industry in supporting the development of science and technology has many problems, which requires us to clear the importance of financial support for science and technology industry and its current condition. This study attempts to explore and find impacting factors of financial support for science and technology industry, to accelerate industrialization of technology development, open up new prospect of financial support and solve the bottleneck problem of technology development funds, so as to promote common development of technology and financial services industry.Domestic and foreign research on financial support for science and technology industry has made some achievements. After reading and analysis of relevant literature and on the basis of the actual investigation, this study analysis mutual support promoting relationship between science and technology industrial development and its financial support, and the financial, tech industry, high-tech, high-tech industry, electronic information industry and other related concepts. Starting from the base, the study analysis the status of domestic and foreign financial support for science and technology industry, as well as the form of foreign financial support for science and technology industry, the contribution of domestic financial support for science and technology industry development through statistical description. After a detailed analysis of relevant data from Beijing, Shanghai and Shenzhen, this study summarizes the status and characteristics of the financial support for Fujian Science and Technology Industry Development. For example, compared to the main enterprise funds, money market funds accounted too low;Security mechanism is not perfect with financial institutions limited;Industry development is too dependent on foreign investment and Hong Kong , Macao Taiwan funded;VC mechanism is not perfect, government guidance is not enough;Listing threshold is too high, Securities market financing is difficulty;Private capital is not used reasonably. In the fourth part, this research, arounding the financing structure, industry risk, government policy these three factors, analysis impacting factors of financial support for Fujian science and technology industry. On the financing structure, this study used the multiple regression model metrology, with Fujian scale electronic information industry output as the dependent variable and financial institutions, corporate funds, government funds, Hong Kong and Macao and foreign funds as the independent variable, then build up the evaluation system of impacting factors of financial support for science and technology industry. Acquisition of Fujian Statistical Yearbook of 1998-2007 data, this study draws an outcome through empirical analysis. From a statistical and economic point of view respectively, it gives Explanation of Coefficient of each variable and the reasonableness of the equation. On risk in the industry, this study explains the impact of financial institutions and venture capital institutions support for the technology industry due to High-risk industries. On part of government policy, it researches on impact of direct and indirect policy financial support for technology industry development. Finally, closely linked to the above argument, this research based on a higher point of view, focused on the technology industry, puts forward related choice and policy recommendations from five perspective of full play to the role of bank loans, Improving the venture capital mechanism, the establishment of GEM and development of multi-level capital market system, increasing attract investment, developing government function and playing plans ,so as to achieve faster and better financial support for the purpose of science and technology industry.This study takes Fujian Province as an example, through the data analysis, the measurement statistics, field visits and so on, researches impacting factors of financial support for Fujian science and technology industry. Currently the research is still rare.