Research On Institutional Innovation For High-Quality Development Of Private Economy In Qinghai Province

The development of China’s private economy has entered the fast lane due to the improvement of the socialist market economy with Chinese characteristics,the continuous improvement of the characteristic modern company management system,the continuous development of the dedication of private entrepreneurs,and the accelerated pace of building world-class companies.At the 20 th Party Congress,the government for the first time clearly put forward the policy of encouraging the development and growth of the private economy,which strongly refuted all kinds of social doubts and suspicions about the development of the private economy,and put forward a strong support for the development of the private economy.It is an obvious signal that our party is firmly committed to promoting the vigorous development of the private economy.How to further promote the development of the private sector has become an important issue now that China’s economic development has entered a new normal-the stage of high-quality development.Qinghai Province is a slow developing region in economic and social development,and the vigorous development of private economy started late,and there are still differences compared with the national average.In order to achieve high-quality economic development,Qinghai Province must strengthen the construction of formal and informal systems to promote the healthy development of the province’s private economy.The province has challenges in the areas of property rights system,market access and competition mechanism,and financial system of the private economy,which are also influenced by ideology,social perception bias and entrepreneurship.How to promote the high-quality development of Qinghai’s economy,narrow the gap with the development of the eastern region,and improve the living standard of the majority of Qinghai people is a very important issue currently faced.Based on institutional innovation,this paper analyzes the impact of institutional innovation in the context of the institutional evolution of the private economy in Qinghai Province,and then proposes innovative suggestions from formal and informal systems.First,based on the important discourse of General Secretary Xi Jinping on high-quality economic development and the important discussion of the20 th Party Congress on vigorously promoting the development and growth of the private economy,the institutional changes and the current situation of the development of the private economy in Qinghai Province are elaborated in detail;second,for the impact of institutional innovation in the high-quality development of the private economy in Qinghai Province,the empirical analysis proves that the institutional innovation in the development of the private economy in Qinghai Secondly,for the influence of institutional innovation in the development of Qinghai private economy,the empirical analysis proves that the effect of institutional innovation in the development of Qinghai private economy is significant;again,on the premise that institutional innovation has significant influence on the development of Qinghai private economy,the current situation of institutional innovation in the development of Qinghai private economy is analyzed in depth from both formal and informal systems to analyze the causes of the problem;finally,opinions and suggestions are put forward from both formal and informal systems in close connection with the obstacles to institutional innovation in the development of Qinghai private economy.Lastly,we put forward our opinions and suggestions from both formal and informal systems in close connection with the obstacles to the institutional innovation of Qinghai’s private economy.For the high-quality development of Qinghai’s private economy,it is necessary to adhere to the concept of institutional innovation,develop the private economy with the concept of institutional innovation,and innovate the modern market economy with the system innovation.