Chinese High-tech Industry Development System And Mechanism Innovation

High-tech industry is characterized with systematic nature of technology industry, with the network interplay among technology, production and market, with great risk, high profit and rapid growth and with diverse demands for financial tools. Analyzing these features and the typical development modes of high-tech enterprises at home and abroad, we can find that the development of high-tech industry requires a series of macro and micro conditions, which can be only improved through system innovation, and then can promote the advance of high-tech industry. From the perspective of social system innovation, the typical form of labor capitalization is the capitalization of knowledge in the era of knowledge economy. Thereupon analyzing production relations, the classification of social classes and modern public ownership, we should not only take ownership of production means into account, but also should make an analysis of the ownership of labor capital. Only when a knowledge revolution is carried out in China in the 2l拁 century and an innovative culture is developed can favorable social system conditions be created for the development of high-tech industry. From the perspective of technological innovation, we must not only reorientate the roles of government and scientific research institutions and so on in the national innovation system through innovating in social system, but draw on the measures which promote knowledge flow in foreign countries so as to promote knowledge flow at home. From the perspective of system innovation in capital market, risk investment system is one organic system, so China must adopt such as one of the six measures which involve changing from the system of 揼overnment subsidized and run?to that of 憕government subsidized and civilian run?in the field of risk investment. Second board market must be orientated properly, its system ?? innovation must be made in five aspects such as developing a proper market mechanism and reforming supervision and regulation systems. From the perspective of microeconomics, we must reform the administration of state-owned assets, solve the questions such as absence of owner, and make improvements in the administrative structure of enterprise, and adopt the incentive measures of stock option, and perfect incentive system relating to managers and core technical members. From the perspective of governmental policy, we must draw on the international experiences and adopt six policy measures such as creating a favorable development environment and so on so as to promote the advance of high-tech industry.