Research On Financial Support Of High-Tech Industry In Shanxi Province

With the advent of the economic "new normal" and the deepening of the supply side reform,the traditional pillar industry of Shanxi Province has been unable to adapt to the new economic situation,and the high-tech industry carrying the two elements of science and technology and innovation is due to its low pollution,Technology,high value-added features,as to accelerate the transformation and upgrading of industrial structure and ensure the steady growth of the economy the inevitable choice.Since the beginning of 2009,although the rapid development of high-tech industry in Shanxi Province,but due to the province’s financial support system is imperfect,resulting in serious shortage of funds required for industrial development.Therefore,it is necessary to analyze the operation mechanism and current situation of the financial support system of high-tech industry,and find out the shortcomings of the financial support system,so as to lay a solid foundation for promoting the healthy and rapid development of high-tech industry.This paper is based on the above issues to carry out the relevant research.In this paper,the use of financial and industrial organization and other related theories,combined with normative analysis,statistical analysis and regression analysis and other research methods,first discussed the financial support for high-tech industry development channels and operational mechanisms,and high-tech industry development The cycle is divided into four stages: the embryonic stage,the creation stage,the growth stage and the mature stage.Secondly,this paper analyzes the status quo of high-tech industry development and financial support in Shanxi Province from2001 to 2015,and finds that Shanxi’s financial support system has limited government financial support,bank loan mechanism does not match,capital market listing threshold is high,venture capital The development of backward and lack of private capital guidance and other issues.Then,based on the data of high-tech industry and financial industry in Shanxi Province from 2001 to 2015,the four indicators of financial support scale,structure and efficiency,as well as the development ofhigh-tech industry are selected.The VAR model is used to analyze the financial Support the relationship with the high-tech industry.The results show that the expansion of financial scale has the greatest effect on the development of the industry,the financial structure is second and the financial efficiency is not enough,and the reverse pulling effect of the high-tech industry is not significant for the financial industry.Finally,on the basis of the previous analysis results,this paper puts forward some suggestions on how to improve the financial system of Shanxi Province to support the development of high-tech industry from three aspects: financial scale,financial structure and financial efficiency.