Study On The Incentive Effect Of Financial Subsidies On China's New Energy Automobile Companies

With the aggravation of global warming and the non-renewable problem of fossil energy resources,the new energy industry has attracted the attention of all countries in the world,especially the new energy vehicle has become an industry vigorously developed by all countries in the world due to its huge economic and environmental benefits.With the transformation and upgrading of China's economic structure,China has implemented a series of preferential policies to promote the rapid development of the new energy vehicle industry.Developing new energy vehicles is also a strategic choice for China's auto industry to achieve transformation and upgrading and"overtake on curves".As a tool of national macro-control,fiscal subsidy plays a very important role in boosting the development of China's new energy automobile industry.Since the Chinese government issued fiscal subsidies and tax incentives to encourage the development of new energy vehicles,new energy vehicles have witnessed rapid development in terms of sales volume,patent application volume and component allocation quality.However,there are also problems in the development of new energy vehicles,such as incomplete subsidy policies and fraudulent subsidies.At present,the scale of new energy automobile industry cannot be formed in a short period of time due to the high sales price of new energy vehicles,the lack of breakthrough in key and core technologies,the inadequate infrastructure such as charging piles and the insufficient market demand,etc.,and the benign development cannot be achieved by relying on the market mechanism alone.Therefore,it is particularly important to subsidize the new energy automobile industry.Based on the new energy vehicles subsidies 14 representative companies as the research object,from the aspects of direct effect and indirect incentives effect on sales of new energy automobile enterprises,production and r&d of empirical analysis,studies the effects of new energy automobile finance subsidy policy and government subsidy policy to promote the new energy automobile finance subsidy policy further optimization.First of all,this paper,on the basis of sorting out relevant research literature at home and abroad,elaborated the concept of financial subsidies,financial subsidies for new-energy vehicles,relevant theories and mechanism,so as to lay the theoretical foundation of this paper.Secondly,it combs the policy history of financial subsidies for new-energy vehicles in China,and analyzes the achievements and problems in the development of new-energy vehicles in China.Thirdly,starting from the obtained financial subsidy data of 14 representative listed companies of new energy vehicles in China,the panel data model is used to conduct an empirical analysis on the direct and indirect effects of the sales volume and output of financial subsidies,r&d input and the intermediary effects of new energy vehicles.Finally,this paper summarizes the financial subsidy effect of new energy automobile in China,and puts forward some feasible financial subsidy policy Suggestions to promote the benign development of new energy automobile industry in China.