| High technology industry has become an important position in international economic and technological competition. The development of high technology and basic industry has been an irreplaceable role for the upgrading of the industrial structure and improving labor productivity and economic efficiency. Technological innovation as the driving force of high and new technology industry development, has the characteristics of high investment, high risk, its development and investment of capital, human and technical resources are closely related, the capital investment in science and technology of the financial system is particularly important for the development of capital intensive high-tech enterprises. Science and technology of Shandong’s system continue to improve, leading to financial support behind the demand for funds, high tech industry great innovation funds is difficult to meet the demand. Therefore, exploring in the financial system support ways and channels of high technology industry, technological innovation, constructing a perfect financial service support system of science and technology is the current urgent problems.Firstly, this paper sets up Science and technology financial support of the theoretical analysis framework for the High technology industry development, then defines Science and technology financial and High technology, and summarizes the five characteristics of high technology industry, high innovation, high investment, high risk and high return, high-growth and high permeability. The five characteristics lay a solid foundation to the four mechanism of Science and technology financial support of the High technology industry development. Secondly, through descriptive statistics conclude that the existing problems in the development of high technology industry in Shandong province due to science and technology financial support: inadequate Fiscal science and technology investment and lack of perfect investment growth mechanism; the reality credit supply of science and technology is not enough and there is a potential supply, but enterprise self-owned capital financing proportion is as high as 70%- 80% of the total; the capital market develops slowly, venture investment risk is insufficient, seed investment is instability; financial service platform of science and technology also needs to be further perfected. And through empirical test, further demonstrates the problems of the development of high technology industry due to financial support of science and technology in Shandong province, and according to the current situation, the enterprise’s own money is set into the empirical model. Finally, put forward policy suggestions on perfecting the financial system of science and technology in our province by study the experience of Guangdong financial development of science and technology. |
