Research On The Policy-Oriented Financial Support For High-Tech Enterprises

High-tech industry and its enterprise cluster have become the most important source of every country's economic growth. All governments in the world are trying to grasp every opportunity and taking all kinds of measures to promote the development of high-tech industry.Firstly, through the analysis of high-tech enterprises'life cycle and fund demand, this paper demonstrates the three features of high-tech industry, including high input, high risk and high profit, and the characteristics of public goods prove the reasonableness of the policy-oriented financial support for high-tech enterprises. High-tech enterprises will not develop well without the support from government. Secondly, according to the experiences from major countries'governments'financial support for small and mid-size enterprises and the reality of China's policy-oriented financial support for our high-tech enterprises, this paper puts forward that the methods of China's financial support for the high-tech enterprises at present should mainly develop the venture capital, which is favored by government and operated by private companies, and the credit guarantee with the government background. The operating mechanism of these two ways is also designed in this paper. Finally, the support conditions that are served for the development of high-tech enterprises are analyzed from the viewpoints of law, regulations, policy system, social intermediary service system and elite team. A successful example of policy-oriented financial support for high-tech enterprises, Wuxi Suntech Power Co. Ltd., is given as the positive analysis.