System Of Financial Support For The Development Of High-tech Industries In China

Since industrial revolution, science and technology have been developing very fast. Science and technology play important role in politics, economy and other social areas. The invention of computer is the start point of a new tech-economy ear as the information technology is the major representative. Before this ear, the development of economy heavily relies on the increase of labor and capital, now the development of science and technology dominates the development of the whole economy and also the allocation of labor/capital in different industries. Besides the economic power and military power, science and technology become another core-competitiveness of a nation and decide the nation's international position. The competition of high-tech becomes more intensive between different nations. How to develop the high-tech industry (HTI) becomes a major concern in the world.In recent years, HTI developed fast in China. But compared with HTI in the U.S., Chinese HTI is still lagged far behind. There are a lot of problems in developing HTI, the lack of financial support is a major one.For large-scale and mature high-tech enterprises (HTE), they can easily get financial support from the banks and the capital markets. But for small/medium-size high-tech enterprises (S/MHTE), they can not get enough financial support because of the high risks and information failures. So, the study of financial support system (FSS) turns into the study of FSS for S/MHTE.This dissertation systematically analyzes why the S/MHTE are so difficult in getting financial support. Through systematically analysis of FSS for HTI, this dissertation reveals the models and the developing trends of indirect FSS and direct FSS for S/MHTE. This analysis has significant theoretical value for our country to develop a sophisticated FSS for our own HTI. By international comparison and the study of the regional FSS for Mianyang city, this dissertation offers a pragmatic model of regional FSS and can help to realize the FSS in the whole country.The 1st chapter is a preface, discussing the value of the topic and relative theoretical developments.