The Research Of Financial Support To The Development Of Shanghai High Technique Industrial

High-tech industry is higher than traditional industry in technological content,added value and labor productivity. Its development value highly dependent on research funds and scale of the industy. During the process, powerful financial support will promote development and upgrading of the industry. Financial activity change the capital allocation structure of industries through capital mechanism, information disclosure system and risk management mechanism. and then affect the allocation of production factors.This paper will use shanghai City as a typical example, analyse financial factors playing in the development of Shanghai high-tech industry:ShangHai financial industry has made a big progress, but its support to the development of manufacturing is relatively inadequate. Financial conduction mechanism needs further perfection. With the method of VAR model, Impulse Response Function and the Decomposition of Variance,we analysis the fuction of direct financial and indirect financial during the development of ShangHai High-tech industry and get the following results:First,in recent years, ShangHai international financial center construction is productive. Direct financial market has developed to some extent, Further broaden the financial channel of manufacturing industry. But, our capital market start later, the proportion of direct financial is still relaticely low,The capital of secondary market mainly flow to traditional industrial.Electronics ,The support to Information technology ,as a representative of high technology industrial,is insufficient.Second,In the short term ,Credit markets, under guidance of government policy ,has certain effect on manufacturing ,But in the long term, its fuction is not apparent, Effective market financial system has not formed.According to the above conclusion,the paper put forward the measures of increasing financial support during the development of High-tech industry.Firstly,Further perfect financial organization system, strengthen financial innovation, and provide a relatively rich financial products, perfecting the direct financing and indirect financing market, provide multi-level financing channels. Secondly, In view of the different industries, implement different way of financial support, enhance financial resource allocation efficiency, Vigorously developing high-tech industry.Thirdly, promote foreign trade financial service level. Provide more financial support to high technology content product export , optimizing export structure.This article analyse the adjustment mechanism of financial to the development of High-tech industry and Evaluate financial effect and deficiency during the process.It is not only conform to the actual operation of current national economy,but also with strong practical significance.,It also has certain theoretical value to understand the relation between financial and economy from the angle of industrial structure adjustment.