Study On Industrial Fixed Asserts Investment And Its Social Performance In Zhejiang Province

Under the circumstance of shortage economy, the increase of investment "amount" is the main impetus of economic development. In the buys'market, however, the investment "quality" instead of "amount" becomes the dominant power. The improvement of investment "quality" will have far-reaching significance to economic progress. Nowadays, Zhejiang province is getting into its middle or later stage in the development of industrialization, so the overly emphasizing in the effect of the increase of investment amount to economic development is not in accordance with the development demand. The question how to improve the investment "quality", the efficiency of investment, is becoming an increasingly pressing issue to be solved. Zhejiang province always keeps a relatively high investment rate. Getting rid of the restriction of high investment rate depends on the improvement on investment efficiency. Therefore, optimizing the investment structure and improving the investment efficiency is the only good strategy to keep sustainable economy growth rate.Traditional researches of investment efficiency presume no existence of externality. When this presumption is taken out, efficiency can not only be judged from personal perspective. The angle of view should be expanded to the whole society. The booming business also brings the issues such as over consuming resources, environmental disruption, increasing prominent social problems, and so on. Therefore, in the Eleventh Five-Year Plan and the Twelfth Five-Year Plan, central government strongly stressed the importance of energy saving and scientific utilization and also put forward the strategy of "New Industrialization". Under such circumstance, studying in social performance is very important to realize balanced, harmonious and sustainable development. Besides, it's also has great practical significance to the scientific establishment of government development strategy.Based on the industry data of Zhejiang province from2001to2009, In the third chapter of this paper makes a study of the investment efficiency's (IE) mean value of different industry, and analysises the IE per year. The result shows that tobacco processing industry's IE lists top of many industry,while other industry have a low IE and faces a situation of overinvestment and scale diminishing returns. It also proposes that if we want to change the development mode of Zhejiang province from resource leading to technology-driven,the traditional supriority-light industry's scale efficiency must be enhanced. To the light industry with low technology, it needs more investment for technical innovation to increase its competitive power. In addition, the equipment industry and advanced techonogy industry's scale efficiency also need to be improved on, then the heavy and chemical industry's investment scale can be controled.The fourth chapter will bring the evaluation of investment efficiency into the entire society system. In the process, firstly try to construct a society performance evaluation system of investment from the angle of social,economic and resource. Then analyses in quantity for social performance of zhejiang industrial investment. The analysis results indicated that economic performance is inconsistent with social performance due to the overheating zhejiang industry fixed investments and the industrial structure of the social investment performance conforms to the development requirements. The analysis results reveal that the investment social performance of high and new technology industries and energy industry in zhejiang industry is higher, Equipment manufacturing industry and traditional superior light industry of zhejiang province take second place. Heavy industry is poor. The investment total economic performance of traditional superior light industry, metal mining and high and new technology industry are higher than heavy industry. The investment science progress performance of high and new technology industry and the oil industry is higher. Traditional industries and heavy industry take second place. Electric power, fuel gas and water production and supply industry, and light industry are lower. The investment energy conservation and environmental protection performance of the traditional advantage industry, high and new technology of the equipment manufacturing industry, electric power, fuel gas and water production and supply industry are higher. Light industry takes the second place. Heavy industry is lowest.We discussed some polices in the last chapter based on the correlation we found between Industrial investment efficiency And social performance of Zhejiang Province, they are:a social performance-oriented investment structure adjustment to upgrade the industrial structure, a intensive-oriented economic growth against extensive growth, and a market-oriented reformation of government function.The mainly difference of our work from early papers exists in that we decomposed investment efficiency in industry level. Besides, to evaluate social performance of investment we tried to build a comprehensive evaluating system, and finally we make a empirical research on it.