| "Post-crisis" that formed by the financial tsunami has constructed the global "common platform of a new round of economic development". While all countries in the world are focused on the emerging industries to revive their economies, our country promoted new industries to the national strategic level,and put forward the synonymous with emerging industries in the developed countries of the concept of "strategic emerging industries" at the same time. It Indicates that the Chinese government extremely cherish this historic opportunity of "common platform", and shows the determination and courage to seize the commanding heights of the world economy and global high-end voice in this field. After the "twelfth five-year" national strategic emerging industry development plan and other documents have developed,the provinces all over the country proactively developed the corresponding strategic emerging industry development planning combined with their own industry and resource advantage.Since then, the "national project" strategic emerging industries has began to enter substantive operation orbit.Unlike traditional industries, strategic emerging industry has these feature like intensive innovative element, high investment risk and period length, the development of internationalization and the international competition, etc. On the one hand, it needs more capital to support its development;on the other hand, in order to accumulate successful experience by extension,it needs to moderate focus and to pilot exploration in some areas that resources endowment is better. As the "gate" of China’s opening to the outside world, The Pearl River Delta actively participate in international competition and cooperation of foreign economic exchanges. Obvious location advantage, a industrial supporting system, infrastructure construction is relatively perfect, science and technology condition is good, and R&D is in leading position in the country. At present, some areas have formed a larger industry scale,development advantages, distinctive industrial cluster development situation,and have a group of independent intellectual property rights of core technology and pillar enterprises that core competitive ability is strong. The "twelfth five-year" plan of "strategic emerging industry development in guangdong province (YueFuBan [2012] No.15), puts forward eight key industries and the corresponding spatial layout of the strategic emerging industry development that namely "one axis and two belts" development pattern, has laid a good foundation for the Pearl River Delta leading in the Chinese economic development once again under the background of the new global economy. For this purpose, the paper selected the Pearl River Delta as the research setting.Through the on-the-spot investigation and questionnaire survey toward400new industry enterprises in the pearl river delta region,the author found that capital bottleneck problem in the developing process of strategic emerging industry stands out:the short of money supplying, higher financing costs, the narrow financing channel and the direct financing ability, and the system of guarantee is yet to be improved. How to solve the bottleneck problem of funds is the current outstanding problems with the development of strategic emerging industries. Through the visit discussion and questionnaire survey we also found that strategic emerging industry access to funds will be better if it relies on the government credit or under the guidance of the government policies. Then, the author conceived in the perspective of developmental financial boldly, tried to research on the financing mode in the hope of baiting a piece of jade with a brick, and lay the foundation for the further study, also hoped to provide some valuable reference for the industry practice.Firstly, the thesis studies and analyzes the proposition associated with the research literature at home and abroad, put forward the main research contents and the train of thought and research method on the basis of literature review.Then as the theoretical support of the research,we analyzethe related basic theory combined with the research content. Among these, through the comprehensive study of the authority of the scholars of the research, we define the concept of Developmental financial. Next, in order to get some inspiration and to provide some valuable reference for this thesis,we analyze and compare the model of development finance among those typical countries like USA,Japan, South Korea and Germany.Then, wethink that "development pattern of one axis and two belts" is very innovative, forward-looking and strong operability through the analysis on the current pattern of development of the Pearl River Delta strategic emerging industries that provides a very good opportunity and platform for strategic emerging industry financing; analyzing the financing environment of in-depth in the Pearl River Delta by using the method of SWOT-PEST; To understand the existing problems and the demand for financing, especially on development finance financing demand of the financing strategic emerging industries in the Pearl River Delta region at present,we carry out the questionnaire investigation and statistical analysis toward400emerging industrial enterprises in the Pearl River Delta area about development situation, credit conditions, folk financing and guarantee conditions. The fifth chapter is the key chapter of the thesis research. We design the financing mode of the Pearl River Delta strategic emerging industry from the perspective of finance based on the main analysis of the present situation of the strategic emerging industry development, the financing environment and existing problems, appropriate draw lessons from foreign experience. This model includes the content system, operation system and supporting system of three organic related parts. Chapter six is one of the important sections of thesis research. Applying game theory mainly, we build game model based on three party development finance to the Pearl River Delta strategic emerging industry financing mode mainly in the main, analyzed the risk possibility of transaction in the mode of a set, each participating in the relationship between subjects and breach of contract. Finally, through a typical case analysis, to further explain the feasibility of model and put forward some related policy suggestions from the government level,the enterprise level and developmental financial institutions level.The paper draws the main conclusions as follows:(1) The development experiences of America, Japan, Korea, Germany have the following enlightenment:through the security system of the strategic emerging industry enterprises, building the credit guarantee system, broadening the channels for direct financing, setting the incentive mechanism to guide the social capital enters into the emerging industries so as to promote the development of strategic emerging industries.(2) After using the method of SWOT-PEST to study the financing environment of the Pearl River Delta, further explore the current financing situation and existing problems of the Pearl River Delta through the questionnaire survey. The main Financing problems of the Pearl River Delta region are:the shortage of funds, the funding gap of enterprises is large; Bank loans get more difficult, resulting in the active folk lending; the general high financing costs greatly increase the burden of the enterprise; Too narrow the financing channel and restricted the accesses of the enterprises to get funds;Poor corporate assets and credit conditions, resulting in the low direct financing ability; Guarantee system is not perfect.(3) Based on the developmental financial three main components of the strategic emerging industry financing model are the content system, the operate system and the support system, the running system was consisted of the project access mode, developmental financial incubation pattern and market withdrawal pattern. Content system is mainly composed of the developmental indirect financing and direct financing mode. Support system embraces the credit system, the post-loan monitoring system, the service system, the product system and the market and institutional system.(4) Compared with the traditional financing model, the deal possibility is much wider based on the pattern of developmental financial financing. While the results of Game Theory research confirmed that there is a positive correlation among the efforts of the enterprise in strategic emerging industry, the investment quota of developmental financial institution and the shareholding proportion; When the government provides more fiscal subsidies and preferential tax policies, the efforts level of the enterprise strategic emerging industry will increase; The opportunity costs of capital and developmental financial institution of strategic emerging industries are negatively related investment;because there is no specific incentives, the parties in the game are likely to have speculation.(5) Through the case analysis, it can be foundout that developmental finance can promote science and technology and it is useful for the transformation of scientific and technological achievements. At this stage in order to get the financing model proposed in this paper operate effectively, the relevant supporting policies are needed as guarantee, it must mainly begin from two aspects:firstly, standing at the enterprise level, it needs to improve the system of modern enterprise management, standardize enterprise financial management system, strengthening the construction of credit system to carry on the industrial cluster financing, and establishing mutual insurance mechanism;Secondly, standing on the government level, there is a need to enforce the support to the emerging industry enterprises, set up professional financing services, which is aimed at the strategic emerging industry enterprises.Combining the own development of China, we need to build the growth enterprise market in the true sense, and promote the development of the otc market. We also need to develop the venture capital, at the same time improve the emerging industry of enterprise credit system construction through institutional arrangements.buildding financial service platform of science and technology, improve the technical property rights trading market; Finally, from the perspective of developmental financial institution level, it needs to establish efficient loan approval and authorization of the credit management system, actively for innovative financial products and services.
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