Research On A Financing Service System For Scientific And Technological Innovation Of Changzhou

With further acceleration of the global economic integration in the 21st century, such a developing country as represented by China is under the pressure of unprecedented competition. In order to keep and even strengthen industrial competitiveness in the new cycle of international competition, it is supposed to insist on scientific and technological innovation and accelerate industrial upgrading as well.Due to the imbalanced economic development in our country, it appears different characteristics in different areas on such aspects as industrial base, capital structure, financial environment, innovative resource and so on. Accordingly, financing of scientific and technological innovation is also facing different environment, which asks more than what macro-policy of our country can provide. So under the background of macro industrial policy and development of financial market, it is necessary for such a traditional industrial city in Yangtze Delta Region as represented by Changzhou to study a financial innovation of local characteristics fit for local industrial development to support the development of scientific and technological innovation. With distinctive manufacturing industry in Yangtze Delta Region, Changzhou has made active and effective exploration of scientific and technological innovation. However, on the way of forming a perfect service system including talent, technology and fund, scientific and technological innovation of Changzhou mainly depends on most medium-and-small-sized enterprises at present. And further improvement of the scale and sustainable ability of scientific and technological innovation is expected in the future. Especially in respect of financial service for scientific and technological innovation, still relying on commercial bank—a traditional financial service system focusing on safety and scale, which is inappropriate to the characteristics of scientific and technological innovation financing such as high-risk, wide-range and multi-frequency etc., enterprises as the main body of Changzhou scientific and technological innovation are under a great pressure of fund. Therefore, it is urgent to build a financial service system of scientific and technological innovation in order to solve its"financing difficulty".By the deep research of practice in this field of Changzhou and other areas, it is clear that all levels of government especially at city and county level prefer the function of financing of the financial system to other function such as directly or indirectly promoting industrial extending and upgrading, accelerating innovation of investment promotion, improving enterprise administrative ability, strengthening social credit and reducing city's business cost. In practice, Changzhou has known the guide effect of such a special productive factor as finance and made a series of innovation actively. But it's still in the stage of partial research, without an all-round and long-term thought, short of an integrated planning and effective policy resource integration. There is still a long way to go in order to satisfy enterprise's need of financial service.For the purpose of accelerating scientific and technological innovation of Changzhou, solving"financing difficulty"of local enterprises, promoting active effect of finance to local industry development, this paper does an in-depth study from Changzhou's scientific and technological innovation and financial service to financial policy evaluating, and then discuss the feasibility to local government of developing financing innovation and improving financing policy by combining the theory and the practice.At present, there are many kinds of research on financing system of scientific and technological innovation from different points of view, such as country's macro policy or enterprise's micro behavior, multiple financing parties or single party, financial administrative system or integrated system including finance, economy and society. This paper focuses on the construction of financial service and policy system matching up to local scientific and technological innovation. By referring to research achievement home and abroad, and studying financing behavior of scientific and technological innovation as well, this paper begins from status quo of Changzhou scientific and technological innovation and financial administrative system to the conclusion that suggests five ways to further construction of financial service system for local scientific and technological innovation, which includes reinforcing governmental policy supporting and leading, enlarging direct and indirect financing, developing financial intermediary, raising enterprise's financing capacity and so on.