Research On The Coordinated Development Of Sci-Tech Innovation And Sci-Tech Finance In Beijing-Tianjin-Hebei

Under the China’s New Normal,the momentum of traditional development is constantly weakened and the extensive growth mode is unsustainable.We must rely on Sci-Tech Innovation to support economic growth.Therefore,studying the synergic development between Sci-Tech Innovation and Sci-Tech Finance,especially for Beijing-Tianjin-Hebei,is of practical significance to further improve the financial system so as to enhance the capability of regional Sci-Tech Innovation.Firstly,the paper reviews the related research of Sci-Tech Innovation and Sci-Tech Finance,and elaborates the operation mechanism from three aspects of time,space and synergy respectively.Secondly,it analyzes the current development and constraints of Sci-Tech Innovation and Sci-Tech Finance in Beijing-Tianjin-Hebei.Thirdly,based on the above analysis,this paper constructs an index system of Sci-Tech Innovation and Sci-Tech Finance.In particular,These five indicators,such as "The number of papers from SCI,EI&CPCI-S","the number of domestic patent applications for authorization","the revenue from sales of new products as a percentage of the revenue from Prime operating revenue","the output from high-tech industries as a share of industrial output" and "the turnover of technology markets"are considered as indicators of Sci-Tech Innovation.These four indicators,such as "The proportion of financial investment in Sci-Tech in Sci-Tech expenditure","R&D expenditure from government funds","Sci-Tech credit from bank" and“The stock value of technological listed company" are considered as indicators of Sci-Tech Finance.Finally,Based on the principle of synergies,the cooperative model of Beijing-Tianjin-Hebei regional Sci-Tech Innovation&Sci-Tech Finance Complex System is constructed.The empirical conclusion provides practical guidance in perfecting Sci-Tech Financial System of Beijing-Tianjin-Hebei and promoting Sci-Tech Innovation.Based on the status quo analysis and empirical results,the paper puts forward some suggestions on how to promote the coordinated development of Sci-Tech Innovation and Sci-Tech Finance in Beijing-Tianjin-Hebei.At the macro level,with the guidance of the top-level design,the synergetic policy of Sci-Tech Innovation and Sci-Tech Finance should be promoted;As the meso level,we should build industrial cooperation mechanism based on Sci-Tech Innovation to pursue the goal of industrial synergies;At the micro level,putting emphasis on risk management as a means to further promote the synergies of Sci-Tech Innovation and Sci-Tech Finance.