Research On The Financing System Of High-Technology Enterprise In China

The competition of the states based on economy leading by high technology. High-technology industry is important strategy to the economy of a state. In financial view ,the development of high-technology enterprise is a process of raising capital and using capital ,that means financial process, high-technology enterprise is a unit of technology and finance.The high-technology industry has gained great development .But it didn't develop as we respected in scale and speed for the deficiency of financing system. The paper that based on financial development theory, system economics and business finance and study the experience of the other states to design an efficient financing system to back high-technology enterprise in our state.At fist, the paper engaged in the elementary financing system of high-technology industry .After analysis of the different demand of to capital in different stage and the experience of US and India, a financing system is designed that more levels capital market is principal part, competitive banking system and government backing system are two wings. In the more levels capital markets, the venture capital market is principal part, the main capital market and the property market are two wings. In the venture capital market, the organizing venture capital is principal part, informal the venture capital market and the second board are two wings. And analyze the character of complex system.Secondly, the paper researches the approaches to set up high-technology industry financing system. The methods to set up more levels capital market are put up , especially elaborate how to set up the venture capital market, how to develop property market and informal capital market. Then the paper point out to set up competitive banking system, to develop middle and small bank and...