China’s Industrial Park Develop Ment In The Hold-up Problem Re Search And Countermeasure

In1979, the first industrial park was set up in Shekou, Shenzhen, during nearly30years of development, China’s industrial park have been through the government-led to market-oriented operation, the distributed business to the industry chain, which is a more specialized, more refined and more detailed direction. The development of the industrial park, on the one hand, promoted the local economic growth, and it undertake the world’s industrial division of labor, which have provided important support for the Chinese economy; on the other hand, the industrial park development promoted employment, improve the urbanization pace of development. In recent years, along with China’s rapid economic development, different types of industrial parks have been established with a dynamic trend.But some problems have appeared with these achievement such as:the low of association of industrial enterprises in the park, the lack of innovative enterprises, worse cooperative enterprises in the park, irrational industrial structure, lack of supporting services within the park, the policy environment that is not adapt to the industrial development needs. Based on the current situation of China’s industrial park development, to solve these problems existing in promoting the development of enterprises in the park, is to fundamentally solve the "investment" in existing or potential "hold-up problem".This paper based on the hold-up theory, firstly, tells the development status of China’s industrial park, and its new trends and problems. In addition, makes analysis of the roles and functions of the government and enterprises in the industrial park development. Secondly, the paper through the different stages of development of the industrial park, analyzes the risk and investment behavior of both the Government and the enterprise. Then, this paper establishes the government and enterprises of the game model to analyze the risks borne by the government and enterprises at different stages. Finally, the paper describes the government and enterprises facing stuck with the risk of governance for the development of industrial parks stuck with the problem of countermeasures. Studies have shown that the government and enterprises entering the zone are a lot of investment in the industrial park development process, but their investment of time and investment of assets and the government themselves is stuck. In the first of the construction of industrial parks, government investment is stuck risk is very small, as the industrial park expansion, the government is stuck with the risk that gradually increases and it is stuck with the risk of corporate investment into the area early in the construction of industrial parks, with the constant expansion of industrial park, the risk gradually decreases. Government and enterprises should adopt different strategies according to their degree of risk to make the industrial park quickly, effectively develop, to promote the development of economic.