Research On The Mode Of Financial Support For The Textile Industry Of Xinjiang Autonomous Region

The research on financial support for economic development began very early in domestic and foreign.In recent years,the domestic financial sector has experienced serious phenomena of “Break away from the real economy and focus on the virtual economy”.The People's Bank of China,the China Securities Regulatory Commission,the China Banking Regulatory Commission,the China Insurance Regulatory Commission,and the Ministry of Industry and Information Technology have jointly issued financial support for manufacturing.Under the guidance of state policies,will be gradually increase the effectiveness of financial support for the real economy.With the "Belt and Road" policy proposed,Xinjiang has become the "window" to Central Asia and Europe.It is also particularly important that Xinjiang develops its local economy better and faster with its own advantages.Xinjiang's cotton production is at the forefront of the provinces.Based on this resource advantage,the textile industry is positioned as a strategic industry for the development of the Xinjiang region.Looking at the development of the textile industry in Xinjiang for more than 60 years,the contribution to the economic development of the Xinjiang region cannot be ignored.However,there are still problems such as the imperfect industrial chain and unbalanced development.Textile enterprises also face challenges in such a large layout.Problems such as financing difficulties are a major obstacle to the further development of the enterprise.Therefore,what kind of financial support model can better serve Xinjiang's textile industry is worth studying.Based on the above background,this paper applied the theory of financial support as a theoretical basis for financial support for the development of textile industry in Xinjiang.By analyzing the development status and advantages of Xinjiang's textile industry,it illustrates the feasibility and necessity of developing textile industry in Xinjiang.Through the current description of the financial support for Xinjiang's textile industry,it is analyzed that financial support for the textile industry in Xinjiang has several major problems.Based on this,it further explores and contrasts the traditional model of financial support for the economic between domestic and foreign.And then combined with the actual situation of Xinjiang's textile industry,exploratory proposed the model of financial support for Xinjiang's textile industry.The support model is put the policy finance and market finance as equally status.It will strengthen the comparative advantage through policy guidance.By leveraging the role of market-based financial resource allocation,we will create superior capacity to realize supply-side reforms,and thus form an endogenous growth engine for the industry and achieve sustainable development and industrial transformation and upgrading.In order to ensure the effective implementation of the financial support model for textile enterprises,this article has formulated a series of safety precautions to promote the financial support model to play a significant role in the transformation and upgrading of Xinjiang textile enterprises.The innovation of this paper is two points.First,this article selects Xinjiang textile industry and financial development as the research object.On the one hand,Xinjiang belongs to underdeveloped regions,and on the other hand,Xinjiang textile industry faces adjustment of industrial structure.Therefore,this article is for the study of financial support in underdeveloped regions and industry finance in urgent need of industrial adjustment.Support has reference value;Second,the innovation of the research conclusions.The research in this paper not only solves the problem of the choice of the financial support model for Xinjiang textile industry,but also has certain reference significance for the financial support model of underdeveloped regions and industries in urgent need of industrial adjustment.