Study On Financing Strategy Of High-tech Industry In Hubei Province

The competitive world economy has increasingly reflected in the competitive high-tech. The high-tech has become the most modern productive forces. Since reform and opening, China has formulated and implemented the "863 Program", "Torch Plan", "super 863". The development of high-tech has received remarkable achievements, which effectively promoted the development of social productive forces.In1987, China's first batch of high-tech business incubator in the Wuhan East Lake New Technology Innovation Center was born. It marks the national research and industrialization of high-tech strategy to enter a new course. After many-years arduous struggle and development, the high and new technology enterprises have made remarkable progress in our country, they have become the main force for the development of the high and new technology industry, and they are becoming the growing point and the new key for the development of social economy. Also this means that there is a high-tech industry in Hubei Province regional development advantages. But from a national perspective, the overall size of high-tech industry in Hubei Province is still small. It can not be compared with those developed areas just like in Guangdong or Zhejiang province neither from industrial nor economic benefits of scale. Financing system of the building has been the impact of economies of scale. Improving the financing system of the construction is considered to be the top priority. Currently there is a lot of Hubei Province listed in the prospects of high-tech enterprises in financing. This research builds high-tech industry investment system in Hubei, and promotes the combination of technology and financial, promoting high-tech enterprises in Hubei Province bigger and stronger. Thus more high-tech enterprises will achieve listing status.Firstly, it explores financing strategies of high-tech industries from theoretical view. And it summarizes the financing of foreign experience in mature capital markets. Secondly, it analyzes the status quo in Hubei financing system for high-tech industries. Then it selects high-tech enterprises in accordance with corporate life cycle theory to survey. And then divides the different growth stages of enterprises into small and medium and large enterprises in order to introduce the high-tech enterprise's financing barrier analysis according to the size of enterprises for small and medium and large enterprises. Finally this paper suggests the high-tech enterprise' financing strategy reality choice. It proposes financing strategies for high-tech enterprises according to all growth stages and different types of high-tech enterprises. With the regional characteristics of the financing strategies in Hubei, it expects to promote the development of high-tech industries in Hubei province.