The Empirical Study On Financial Support Of Innovative Cities In China

With the acceleration of global economic integration,international competition is becoming more and more intense.Many countries regard strengthening the national innovation system as the national strategy.As early as 2006,China had put forward the concept of an innovative country,started a number of pilot projects led by Shenzhen,Guangzhou,Chengdu and other cities,and plans to enter the ranks of innovative countries by 2020.Finance is the core of modern economy.As a key factor affecting the development of innovative cities,finance has the functions of raising funds,optimizing resources,dispersing risks,credit constraints,and so on.The pilot cities should give full play to the role of finance in the development of innovative cities,open up a new development road with science and technology innovation as the main driving force of development,and do a good job in the demonstration role of the whole country.Firstly,this paper reviews the relevant literature and research results at home and abroad,defines the concept of innovative city and financial support,and elaborates the mechanism and path of financial support for innovative city development.Secondly,this paper analyzes the current situation of financial support for the development of innovative pilot cities in China from the perspective of financial deepening,financial service efficiency and government support,.Finally,the grey correlation analysis method is used to judge the influence of different financial indicators on the development of innovative pilot cities,which provides the countermeasures and suggestions for the financial support of innovative urban development,including:developing rapidly the science and technology insurance,speeding up the improvement of venture capital,supporting innovative enterprises to enter the capital market for financing,introduing from the high-end financial talent and improving the level of financial services and so on.