Research On The Sustainable Development Of Financial System Supporting Science-technology Innovation

After 18 th CCP National Congress,“improve the ability of independent innovation,building an innovative country” is identified as an important strategic plan in our country.As a complex system engineering,this plan needs a mechanism which is conducive to the independent innovation.At present,there is a big gap between the level of financial development and the demand of science and technology innovation.In the stage of economic transformation,the financial support for scientific and technological innovation is far from enough,and its construction and development are also facing the problem of rising non-performing loan ratio,administrative intervention,constraint softening and so on.How to realize the sustainable development of the financial support system of science and technology innovation is an urgent problem to be solved in the realization of innovation driven economic development.The paper first summarizes the mechanism of sustainable development of sciencetechnology innovation's finance support system.On the basis of it,the author make descriptive analysis and empirical analysis of the current situation of sustainable development of science-technology innovation's finance support system,find the poor competitiveness of innovation investment,innovation growth rate decline,financing will weaken.After that,the VAR model is used to analyze the improvement degree of the financial system,capital investment situation and the transformation of economic growth impetus to the sustainable development of the financial support system,and the reasons for restricting the sustainable development of the financial support system are demonstrated.Finally,according to the above analysis results,this paper puts forward the concrete path and policy suggestions for the sustainable development of the financial support system of science and technology innovation.