| Industrial structure Upgrading is the eternal theme of economic development. Rational industrial structure will promote the development of industry, and ensure the sustained and stable growth of economic. Since the beginning of reform, Zhejiang's economy has maintained fast development momentum, and gradually formed a private economy as the main representative of regional characteristics of industrial clusters, regional economic growth in China has become a model of GDP,from1978to123.72billion yuan to22990.35trillion yuan in2009, average annual growth rate reached18.36%, consistently ranked in the nation. Meanwhile, Zhejiang's industrial structure is also continuously upgraded. Right now, the proportion of modern industrial sector is far higher than the proportion of traditional industries. Studies have shown that Zhejiang's economic development, industrial upgrading is mainly driven by investment and exports. China's investments can be divided into the main state-owned investment, private investment and foreign investment (including Hong Kong, Macao, Taiwan). From the early days of state-owned investment-dominated to the present, private investment is gradually replacing the dominance of state-owned investment, and becoming an investment growth of new drivers. However, due to the policies, institutions, private investors, the market environment and their quality and other factors, a huge amount of private investment is far from played out its potential. Especially in the tertiary industry, industry access and monopoly has not been broken, many industries exist "glass door" and "Spring Gate", private investment can only indulge in the fully competitive field, which led to the development of tertiary industry lags behind in Zhejiang. May13,2010,"State Council to encourage and guide the healthy development of private investment in a number of opinions"(referred to as the "new36") release, to continue to promote the development of private investment and play its role in upgrading industrial structure."The new36" expands the investment scope of private investment, encourages private capital to enter the basic industries, financial services and other social undertakings, and other six areas. In this context, the study of private investment and upgrading the industrial structure has important theoretical and practical significance.This paper is divided into five parts, the first part describe the topics of the main background and significance, and reviewed the relevant theoretical and empirical research; the second part is the theoretical part, on private investment and industrial structure of the theory expounded and analysis of private investment in upgrading the industrial structure, mechanism of action; Analysis of the third part is to describe the structure of Zhejiang private investment and industrial development, and that private investment in Zhejiang's industrial structure and the characteristics and shortcomings; Part IV is the empirical part, using panel data model to explain the effect of private investment in upgrading the industrial structure; Finally, conclusions and policy recommendations. Here is some conclusions:Private investment promotes the development of secondary industry of Zhejiang Province, but it inhibited the development of tertiary industry in Zhejiang, and it played a no significant impact on upgrading the industrial structure. As private investment in secondary industry trends within the investment structure in line with the second law of intra-industry upgrading, so it promotes the development of secondary industry, on the contrary, private investment in the tertiary industry trends within the investment structure and the third contrary to the internal laws of industrial upgrading, resulting in the inhibition of the development of tertiary industry, thereby affecting the industrial structure of the tertiary industry in the direction to upgrade. |
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