Research On Tax Incentives And Innovation Efficiency Of Pharmaceutical Manufacturing Enterprises

Under the strong support of the state policy,China’s pharmaceutical manufacturing industry has made great progress.The Party’s twenty major report pointed out that China’s pharmaceutical manufacturing industry has made great achievements in the past decade and become an important part of the social economy.The importance of innovation as the core competitiveness of the pharmaceutical manufacturing enterprises is increasingly prominent.In this process,the existing problems such as low efficiency of research and development,lack of innovation ability are also increasingly apparent.In order to encourage the innovative development of the pharmaceutical manufacturing industry,our country has given the pharmaceutical manufacturing industry great support in terms of tax revenue in recent years.The study of the influence of tax incentives on the innovation efficiency of pharmaceutical manufacturing enterprises is conducive to the government to better use tax means to promote the improvement of enterprise innovation efficiency,and can also help pharmaceutical manufacturing enterprises to better understand and use tax incentives,to further improve their innovation level and market competitiveness.Through sorting out the existing research results,it is found that existing studies mainly explore the relationship between tax incentives and innovation efficiency from the macro perspective of the industry,and the methods are mostly empirical.Different samples and analysis methods reach different conclusions.From the perspective of micro enterprises,this paper takes Jiangsu Hengrui Pharmaceutical Co.,Ltd.as the research object to study the relationship between tax incentives and innovation efficiency of pharmaceutical manufacturing enterprises.Firstly,it introduces the research background,significance,research ideas and methods,defines the related concepts involved in this paper,sorts out the existing research results and lays the foundation for the writing of this paper with the help of technological innovation theory,endogenous growth theory and tax effect theory.Secondly,it makes a comprehensive introduction of Chinese pharmaceutical manufacturing industry from the overall development situation,the application of preferential tax policies and innovation efficiency.Next,taking Jiangsu Hengrui Pharmaceutical Co.,Ltd.as an example,it introduces the application of tax incentives and enterprise innovation of Jiangsu Hengrui Pharmaceutical Co.,LTD.,and analyzes the influence of tax incentives on the innovation efficiency of Jiangsu Hengrui Pharmaceutical Co.,LTD.,and its influence mechanism.Finally,the research conclusion is drawn,and relevant suggestions are put forward from the government and enterprise level,hoping to provide some reference for improving the effect of tax incentives for pharmaceutical manufacturing industry and improving innovation efficiency.Research conclusions:(1)The technological innovation efficiency of Chinese pharmaceutical manufacturing industry is between 0.5 and 0.7,and both the level of independent innovation and innovation efficiency have great room for improvement.(2)The innovation level of Jiangsu Hengrui Pharmaceutical Co.,Ltd.is in the leading position in the industry in China.The company enjoys more tax incentives but still makes insufficient use of preferential policies.(3)Tax incentives change in the same direction as enterprises’ innovation input and innovation output.With the increase of tax incentives enjoyed,enterprises’ innovation efficiency is correspondingly improved.