Research On Financial Support For The Development Of New Energy Industry In Inner Mongolia

The new energy industry has high technology content and less environmental pollution,which is the new trend of energy industry development.The development of new energy industry conforms to the requirements of high-quality economic development advocated by our government under the "new normal" economy and can effectively alleviate the contradiction between energy supply and demand and the pressure of ecological environment.However,it is worth noting that the development of new energy industry needs a huge amount of financial support,and the government's financial input and subsidies are only a drop in the bucket,which is difficult to meet its long-term development needs,often relying on financial market functions.As the core of modern economy,the biggest characteristic of finance is to realize the optimal allocation of resources,guide the flow of funds,and play a key role in promoting industrial development.Whether the financial support and the funding requirements for the development of the new energy industry match each other will directly affect the effect of the sustainable development of the new energy industry.Therefore,it is necessary to conduct an in-depth discussion on the financial support in the development of the new energy industry.In view of this,based on a comprehensive review of related researches domestic and overseas,this paper clarifies the research content of this paper through the review:Taking Inner Mongolia Autonomous Region as the specific research object,exploring the mechanism and effect of finance supports the development of new energy industry from both theoretical and empirical aspects,and combining the current status and existing problems of financial support for the development of new energy industry in Inner Mongolia,proposes to further improve the financial system and promote the development of new energy industry in Inner Mongolia Suggestions.The specific research contents and conclusions are as follows:(1)Through the descriptive analysis of the overall situation of the development of Inner Mongolia's new energy industry,it is found that:the development stages of each sub industry of Inner Mongolia's new energy industry are different,among which the development of wind power industry tends to be mature;the development of solar photovoltaic industry is rapid;the development of hydropower industry is steady;the biomass power generation industry has achieved initial results.In general,the new energy industry in Inner Mongolia develops rapidly,the quality is improved significantly,and the development prospect is broad.(2)Through the descriptive analysis of the development of Inner Mongolia's financial industry from three aspects of banking,securities and insurance,it is found that the overall development level of Inner Mongolia's financial industry is constantly improving,and currently it is still dominated by the banking industry,and the contribution of securities and insurance industry to the economic development of the autonomous region needs to be further stimulated.However,in the process of finance supports the development of Inner Mongolia's new energy industry,there are still some problems,such as high industry risk makes financing difficult,unreasonable financing structure,limited credit scale support,blocked direct financing channels,and the role of government support and guidance to be strengthened.(3)Based on macro data to build VAR model to analyze the effect of financial support in the development of Inner Mongolia's new energy industry.It is found that there is a long-term stable equilibrium relationship between the development of Inner Mongolia's new energy industry and financial scale,financial efficiency and government financial support.Although in the short term,Inner Mongolia's financial efficiency has a certain inhibitory effect on the development of new energy industry,but in the long term from the point of view,the continuous expansion of Inner Mongolia's financial scale,the continuous improvement of financial efficiency and the increase of government financial and tax support are all conducive to the development of Inner Mongolia's new energy industry.At last,the paper puts forward countermeasures and suggestions for the problems existing in Inner Mongolia's finance supports the development of new energy industry,including:improving industrial strength to attract capital injection,optimizing financing structure,increasing credit support,expanding direct financing channels,and strengthening the role of government support and guidance.