China Science And Technology Industrial Park System Study

Developing high-tech industry in China has been always emphasized by the authorities and is viewed as a primary policy for our economy. Since the middle of the 1980s, our government has began to construct science& technology industry parks through imitating the Silicon Valley, which is the most important institutional innovation in developing high-tech industry. Now, after twenty years' constructions and developments, there have been 53 high-tech industry development zones owned by the central government, and a lot of other science & technology industry parks in different forms owned by the local governments. However, the expanding is yet unsatisfying, especially comparing to the development level of the science & technology industry parks in America (e.g. the Silicon Valley or Route 128).After earnest researching, some experts point out that the institutions are more important than the technologies in developing high-tech industry. Obviously, this conclusion tells us the basic reasons for the slow pace of the science & technology industry parks. But, according to us, knowing the importance of the institutions is not enough; we cannot solve the specific problems in China by that. So we still need to know what kind of institutions is necessary for our science & technology industry parks and how to innovate the institutions. Based on these researches and cogitations, we discuss the problem of institutional innovation for the construction of science & technology industry parks in China in this paper.The science & technology industry park itself is one important institutional innovation. Therefore, we take the new institutional economy (NIE) as a basic theory and its latest development, the comparative institutional analysis (CIA) as a methodology to study he institutional construction of the science & technology industry park in China.First, taking Zhongguancun science parks as a typical example in China, we study our current situation of the institutional construction of the science & technology industry parks, discuss the principal institutional problems that existin our science & technology industry parks and analyze the causations that affect our institutional innovation.Secondly, we analyze the institutional contents of the science & technology industry parks in America thorough the comparative institutional analysis (CIA). We discuss the achievement of the success of the institutional innovation in the Silicon Valley and the institutional causations of the failure of the institutional innovation in the Route 128,and elaborate the experience of the institutional construction of the science & technology industry parks in America.At last, based on the analysis of the current situation of the institutional construction of the science & technology industry parks in China and the experience of the institutional construction from America, we propose the reform of the high entrance system to the parks and the reorganization system of high-tech enterprises; and we should perfect the institution of the science & technology industry park in China from six aspects, as follows, perfecting the structure of the institutional innovation's subject; instituting property right to stimulate the technological innovation; setting reasonable institution to promote the accumulation of the human capital; inventing the financial institution to help the startups; forming the innovative culture based on the market competition through the institution setting; building up a complete zone-innovational networks through the institution setting.