Research On The Influence Of Regional Agglomeration Of Venture Capital On The Optimization Of Regional Industrial Structure

As an innovative achievement combining science and finance in the capital market,venture capital can provide capital,technology and management support to high-tech enterprises and start-ups with high growth potential.It also has a significant positive impact on promoting the transformation of scientific and technological achievements and the development of emerging industries.The success of silicon valley has shown the world the important role of venture capital in technological innovation,industrial transformation and upgrading,and economic growth.As China’s macroeconomic development has entered a new normal stage,economic growth has a growing need for technological innovation and progress.Promoting the development of venture capital and guiding venture capital to become a strong support for the development of new and high technologies and emerging industries are the due reasons for China’s supply-side structural reform in the new era and the strengthening of new drivers of economic growth.The development of venture capital generally shows the characteristic of regional agglomeration.The states of California,New York and Massachusetts in American,the United Kingdom around London,France,Japan Tokyo and South Korea Seoul,regions with concentrated high-tech industries and financial resources in various countries are often favored places for venture capital institutions and investment projects.According to the investigation and research,China’s venture capital resources are more concentrated in the economically developed areas along the east coast.The agglomeration effect of attracting venture capital has become increasingly obvious through measures such as the improvement of policy environment and the establishment of government-guided funds,with the recognition and emphasis of local governments on the economic benefits brought by the development of venture capital.It is a topic of considerable research value that whether the industrial structure can be improved with the increase of the concentration level of venture capital investment,under the background of the urgent need to optimize the industrial structure in most parts of China.This paper summarizes the regional operation of domestic venture investment,the fact of regional industrial structure and the changing trend,on the basis of summarizing the research results of venture capital and industrial structure changeat home and abroad.With the help of the panel regression model,this paper discusses the influence of the concentration level of venture capital in 30 provinces,municipalities and autonomous regions on the two dimensions of industrial structure optimization(rationalization of industrial structure and upgrading of industrial structure)from 2008 to 2017.The results show that the improvement of the concentration level of venture capital at the provincial level in China has significantly promoted the adjustment process of the advanced development of regional industrial structure.In particular,the eastern economically developed region,as a region with a high concentration level of venture capital industry,has a more significant effect on the optimization and adjustment of industrial structure than the central and western regions.This paper proposes the development direction of regional venture capital construction based on the characteristics of the development of regional industrial structure,which provides reference basis for the improvement of innovation ecological system,the improvement of regional innovation capacity and the optimization of industrial structure.