Research On The Impact Of Corporate Income Tax Preference On Innovation Output Of Advanced Manufacturing Enterprises

China’s economy has shifted from a stage of high-speed growth to a stage of high-quality development,the quality and efficiency of development have become important levers for economic development.As the key word for China’s high-quality economic development,innovation is urgently needed to be accelerated when our country is facing profound changes unseen in a century and complex changes in its internal and external environment.As the pillar of national economy,the main battlefield of international competition and the main field of innovative output,manufacturing industry bears extremely important responsibility.Under the background of the rapid development of global advanced manufacturing industry,advanced manufacturing industry,as the core force of manufacturing industry,plays an important role in China’s road from a big manufacturing country to a huge manufacturing power.However,the advanced manufacturing industry faces many difficulties in its advancement process,where large amounts of crucial problems need to be figured out in time,especially the problem that innovation output has not kept pace with R&D input.Therefore,improving the innovation output of advanced manufacturing enterprises is the top priority of developing advanced manufacturing industry.Among the factors that affect the innovation output of advanced manufacturing enterprises,enterprise income tax preferential policies are a major content.Chinese government has successively introduced preferential tax policies mainly for enterprise income tax to encourage R&D and innovation activities of advanced manufacturing enterprises.This paper studies the effect of corporate income tax preference on innovation output of advanced manufacturing enterprises by taking R&D investment as the intermediary.This article first elaborates the relevant theories about the impact of preferential tax policies on the innovation output of advanced manufacturing,and then demonstrates the mechanism of the impact of enterprise income tax incentives on the innovative output of advanced manufacturing.Finally,it combs the innovation status of China’s advanced manufacturing industry and the applicable preferential policies of enterprise income tax.Then taking a-share listed companies of advanced manufacturing industry from 2011 to 2020 as samples,the empirical analysis draws the following three conclusions:(1)Enterprise income tax preference can promote the increase of innovation output of advanced manufacturing enterprises;(2)The R&D input of advanced manufacturing enterprises is the mediating variable of enterprise income tax preference affecting their innovation output;(3)In the regions with high degree of intellectual property protection and non-state-owned enterprises,the impact of enterprise income tax preferential policies on improving the innovation output of advanced manufacturing enterprises is more significant.Finally,according to the empirical conclusions,combined with the existing problems of China’s enterprise income tax preferential policies,this paper raises policy propositions from three perspectives.