Research On Financial Subsidy Effectiveness Of Biomedical Industry

On November 29,2016,the State Council issued the �13th Five-Year National Strategic Emerging Industry Development Plan�,officially took the bio-pharmaceutical industry as one of the seven strategic emerging industries,which lead China's industrial and technological transformation.The biomedical industry is characterized by high technology and environmental friendliness,and thus it has become an inevitable choice for China's economic supply-side reform and green economy transformation and development.It is different from the perfect venture investment mechanism in developed countries,financial subsidies are an important driving force for the development of China's bio-pharmaceutical industry.We study the effect of financial subsidy on the bio-pharmaceutical industry,elimina te the backward subsidy system,and improve the efficiency of financial subsidies.These are of great significance to promote the development of the biomedical industry and improve the innovative ability.Based on the annual report data of Chinese biomedical companies listed companies,this paper analyzes the current situation of C hina's biomedical industry development.And we introduce a coupling coordination degree model and conduct correlation analysis.The results conclude that: financial subsidies can promote the development of biomedical industry,and the efficiency of financial subsidies has nothing to do with the amount of financial subsidies;the efficiency of financial subsidies varies widely between regions,and the complexity of policies is the main reason for the low efficiency;financial subsidies promote the biomedical industry mainly in the way of influencing the innovation investment of biomedical enterprises.This article is divided into five parts.Section 1 expounds the background and significance of the topic,and introduces the relevant research results of scholars at home and abroad.And there is scientific consensus that financial subsidies can promote the development of biomedical industry.But they have different understandings on the mechanism of financial subsidies.Then,the relevant theoretical basis,the concept of biomedical industry and financial subsidies,and the theoretical basis of financial subsidies(public product theory and externality theory)are introduced in section 2.Section 3 summarizes about the present situation of China biological medicine industry subsidies,chooses biomedical data of Chinese listed companies in C hina,and introduces the present situation of biological medicine industry development,using the data of China's bio-pharmaceutical listed companies.In this section,we also analyze the regional differences in industrial development,and the financial subsidy policy for China's bio-pharmaceutical industry and its intensity.Section 4 is the empirical analysis part.The coupling coordination degree model and the correlation analysis are introduced to study the degree of the interaction and coordinated development between the financial subsidies and the biomedical industry development.Conclusions and recommendations are in Section 5.Based on the results of the current situation and the empirical research,we can draw conclusions and make recommendations.