On Financial Support For High-tech Industry Developme Nt In Hunan Province

Technology finance has risen to national strategies. The high-tech industry has become a new economic growth point for any economic entities. In recent years, the high-tech industry has been developing in a gratifying speed in Hunan province, but compared with the advanced cities of the country or the six central provinces, the speed, scale, ability and the degree of contribution to the economy has to be improved. Because of the imperfect financial system, no deepen reform, as well as the inherent "high risk" in high-tech industry-specific characteristics,"financing" has become an obstacle to the entire high-tech industry, especially the development of small and medium-sized enterprises. And this is incompatible with the pace of the construction of the "Four Modernizations and Two Types" and the objective of "the Twelfth Five" high-tech industry planning. Under this background, it has important theoretical and practical significance to research financial support of the development of high-tech industries in Hunan Province.This paper studied and analyzed the particularity and financing features of the high-tech industry, examined the mechanism of financial support for the development of high-tech industries, and built mechanism framework of financial support for the development of high-tech industries. The second part analyzed present situation and problems of the development of financial support for high-tech industrial, using some methods like descriptive statistics, research and interviews. The third part selected an appropriate set of indicators on financial supporting the development of high-tech industries for model building, and then combined with time-series data, the use of econometric theory and methods. The financial expansion of the scale and financial efficiency improvement has a significant role in promoting the development of high-tech industries. But the pulling effect of financial development to the development of high-tech industries is unobvious. The fourth part proposed policy recommendations to improve the financial system to support the development of high-tech industries from the financial scale, financial structure, and financial efficiency perspective.