Research On The Financial Support Paths To Strategic Industries Development In Developed Countries

Strategic industries which closely linked with national security is directly related to the country's long-term and overall interests. It's ability to enhance and maintain the competitiveness of the countries is of great significance. The developed countries have always attached great importance to the development of their strategic industries. This paper main uses the method of comparative study, and try to give the experience for our country's strategic industries development through researching the financial support strategic industries path of the developed countries.This article first inspects the integration of industry with finance background of developed countries when developing their strategic industries with finance. And then it summarize the four typical model of foreign industrial capital and financial capital fusion :the United States' market-oriented model, the Japan's main banking system model, the German's almighty banking system model and South Korea's government-led model. Thinking that with the further development of industry and finance combination, the integration of industry with finance model for world's least developed countries appears convergence and " almighty banking system" trend; This article summed up three approaches for foreign countries in the integration of industry with finance: financial enterprises and business enterprises mutual shareholding, financial industrial participate in commercial enterprises for operation and management, industrial enterprises involved in commercial enterprises for formation and management.Subsequently, this article focuses on the developed countries' four paths in supporting strategic industries with finance. That is, risk investment, stock market, commercial banks and national development financing. And also focuses on the support methods and protection mechanisms of the four paths. This article summed up the protection role of government's policies, rules and laws and regulations in the financial support strategic industry development. Finally, it summed up four pieces of experience and enlightenment to develop strategic industries in China: (1) To implement the mix model for integration of industry with finance, and implement the mixed model which is mainly with market-oriented mechanism, built on the basis ofcapital market, and t actively guided by the government.Put more emphasis on the fundamental role of the capital market. Banks and other financial institutions are involved in as independent market entities, and support each other with money market, capital market. They work together to provide complete financial support for the economic development industry. The government plays the guide, facilitator role. (2) To implement policy-oriented financial Comprehensive Transformation. Put more emphasis on making decisions and taking risks by themselves, on market-oriented operation and commercially sustainable. Transform the policy banks into integrated development financial institutions. (3) Perfect the risk investment system, improve the external environment, capital markets, venture capital and investment companies, the main part of risk investment, the government and other links' status and role in the country risk investment system.(4)Attach importance to the role of government. Actively develop government loans, the government guarantees, tax incentives and other support ways which can not be provided by commercial finance. Promote China's strategic industries develop rapidly.