Research On Financial Support For Regional Scientific And Technological Innovation In China

Technological innovation is an important driving force for the economic development of a country or region.The 18 th CCP Congress clearly put forward the strategy of innovation-driven development,and pointed to accelerate the pace of innovation into the country.Enterprises as the main body of technological innovation,need to solve the demand for money.Internal funds used to maintain daily operations,so technological innovation funds mainly come from external financial support.Banking institutions and capital markets are the two financial support channels about the technological innovation on the international.Banking institutions include commercial banks and policy banks.Capital markets include general capital market and venture capital which is part of the broad capital markets,and is specifically for high-tech enterprises.Technology innovation in China is given priority to with bank financial support system,and capital market development is relatively slow.Risk investment is an important source of technological innovation funds,which is lack of correct guidance and use.At the same time,the development of the banking institutions and capital markets is different in different parts,leading to a big difference about the financial system to support technological innovation.Therefore,there has great significance for the balanced development of the region to study the impact between the different regions of our country's financial support for scientific and technological innovation.Firstly,this paper defines the concept of scientific and technological innovation and financial support,and theoretically analyzes the impact of the financial support for the country's scientific and technological innovation.Secondly,there is a comparative analysis of the differences between the four regions of technological innovation with nearly eight years of data.Financial support for the status quo various areas of the technological innovation and pointing out the constraints on financial support for technological innovation.Thirdly,using the factor analysis method,taking multiple index comprehensive evaluate the level of the innovation of science and technology in the various provinces and cities,which is as explained variable.Financial scale,financial structure and financial efficiency are as explanatory variables.There is an empirical research on the financial support for the influence of the four regional scientific and technological innovation using the panel data model.Finally,under the guidance of successful experience abroad,put forward the optimization of regional scientific and technological innovation in our country the financial support of countermeasures and suggestions.