Research On The Influence Of The Scale And Structure Of Social Financing On Industrial Structure In China

China’s economy has changed from a stage of high-speed growth to a stage of high-quality development,and is in the key period of changing the development mode,optimizing the economic structure,and transforming the growth momentum.This puts forward higher requirements for economic development,which also means that the economic development mode and growth power must be optimized along with it.China is also facing prominent problems such as overcapacity and capacity imbalance,and the industrial structure urgently needs to be upgraded.Therefore,China is vigorously promoting supply-side structural reform now,and the upgrading of the industrial structure cannot do without the strong support of funds.The scale of social financing reflects the financial support for the real economy in a certain period of time,and has been accepted by the People’s Bank of China as a unique financial statistical indicator in China.The impact of the scale of social financing on the industrial structure cannot be ignored.We should maximize the positive effect of the scale and structure of social financing on the upgrading of industrial structure.This paper takes the scale and structure of social financing in China as the starting point,takes the upgrading of industrial structure as the goal,attempts to further explore the impact of the scale and structure of social financing on industrial structure,and puts forward feasible suggestions on upgrading and improving industrial structure in China and among regions.This paper uses panel multiple regression model to analyze the impact of social financing scale and structure on industrial structure,and further uses pre-test,Hausman test,main effect analysis,robustness test,heterogeneity analysis and other means to verify relevant assumptions and conclusions.This study finds that at the national level,the expansion of the scale and volume of social financing has a positive and positive role in promoting the industrial structure.In the social financing structure,the onbalance-sheet financing and off-balance-sheet financing also have a positive and positive role in promoting the industrial structure;At the regional level,the expansion of the scale and volume of social financing has a positive and positive role in promoting the industrial structure.In the social financing structure,the on-balance-sheet financing and off-balance-sheet financing have a positive and positive role in promoting the regions with high industrial level,while they have an insignificant negative inhibitory effect on the regions with low industrial level.Therefore,in order to optimize the financing structure in the overall rising trend of social financing scale in China,we should not only consider the impact on the country,but also consider the impact between regions.Each region should also adjust and optimize the social financing structure according to the actual situation,and strive to maximize the impact of the scale of social financing on the upgrading of industrial structure.