Analysis On The Effects Of Financial Development On China's High-tech Products Export

Since the implement of " to boost China through scientific and technological advances " policy, China has made considerable progress in high-tech products export. In recent years, high-tech products export trade keeps a high growth situation in the good international and domestic economic circumstances. High-tech products have a high demand for capital, and so they require inevitably that the financial system provides a large enough in scale and efficient financial support. Therefore, based on the major role the high-tech products trade plays in economy and trade, it is of great practical significance that we research on the present situation of the high-tech products export and the influence of the financial development to the comparative advantages of high-tech exports as well as its degree.And it's also important to explore ways to expand our high-tech product exporting and agjust its composition by financial development.First,this paper introduces the different categories around the world of high-tech products, and the characteristics of high-tech products, and then introduces China's current export situation of high-tech products from two aspects: scale and structure,.Although China's high-tech export scale has been expanding,its development is unbalanced in the aspect of export sector distribution,export enterprises consititute,the geographical distribution of export,export mode. To the theoretical aspects, this paper elaborate the related theory, from the resource endowment and technological progress respects,that financial development influence the export trade comparative advantage, then this paper makes a more comprehensive introduction to the mechanism that financial development influences the high-tech products export in the aspect of fiance,information collection and processing,risk diversification,and technological progress . In the part of econometric analysis, this paper uses time series analysis to analyze the effect of the China's financial development impact on our country's high-tech products export trade in the overall, we found that there is a long-term cointegration among the proportion of high-tech exports , the scale of financial development, the financial efficiency and stock market value. Finally, we need to work in the following areas in order to make the financial development promote the export of high-tech products better: 1, deepening the financial system reform, strengthening the financial intermediation support for high-tech enterprises. 2, developing the capital markets to promote the development of high-tech enterprises. Developing the venture capital to promote technological innovation; Perfect the second board market which the small and medium technology start-ups enterprises as the core, cultivating and improving the existing three board. 3, strengthening financial innovation, and enhancing the financial capabilities to improve the financial service quality.