Research On Financial Support To The Development Of China's Integrated Circuit Industry

After more than half a century of development,China has become the largest semiconductor consumer market in the world.But with the third industrial transfer of the integrated circuit industry,opportunities and challenges coexist for the development of China's Integrated Circuit industry at this stage.At present,there are some deficiencies that China's integrated circuit industry needs to overcome in the development process,such as the lack of key technologies,the severe international situation and the huge talent gap.This paper studies the problems of financial support in the development of China's Integrated Circuit industry,from the perspective of the role of the government and the market in financial support,by using literature research method,case study method and comparative study method.And the paper tries to put forward suggestions to improve the financing difficulties of China's Integrated Circuit industry.This thesis first sorts out the evolution of the theory of government's economic function,the concept of financial support and analyzes the mechanism of government and financial market's financial support for the Integrated Circuit industry.By analyzing the change of financial support mode in the development of China's Integrated Circuit industry,the development process is divided into three stages: initial exploration stage,key construction stage and rapid development stage.Then by analyzing the capital demand of China's Integrated Circuit industry,this paper points out that there are high technical and capital barriers in China's Integrated Circuit industry at the present stage.In order to make domestic enterprises overcome the barriers and occupy the market share,expanding production scale effect,enhancing the international competitiveness of domestic enterprises and other links all need financial support.Based on the above analysis,the paper summarizes the status quo of financial support of China's integrated circuit industry,and points out the main problems of financial support in China's Integrated Circuit industry,including the failure of financial market to lead to insufficient use of securities market and insufficient credit support of commercial banks.There is a small amount of venture capital investment and a large gap between the government's financial support funds and foreign countries,as well as imbalances within the industry.Through the case analysis of the National Integrated Circuit Industry Investment Fund,the financial support role of the government and the market is further analyzed and clarified.According to the financial support experience of the United States and Japan in the development of integrated circuit industry,it is proposed how to better play the role of government and market in financial support of the Integrated Circuit industry.Finally,this paper puts forward some suggestions for financial support for the development of China's integrated circuit industry.First,we must promote the improvement of China's capital market,improve the corporate credit rating system,and guide more venture capital into the integrated circuit industry.Second,accelerate the transformation of the functional role of China's government financial support.Strengthen the market-oriented use of funds,strengthen support for R&D enterprises in design and equipment materials,and support independent research and development of related technologies;Third,establish a national integrated circuit industry financing platform to solve problems,such as credit guarantees and information asymmetry,and help China integrated circuit enterprise to finance.