| Nowadays, as a kind of the most basic strategic resource, finance plays a significant role in the process of social resource disposition. Sci-tech, a vital part of national soft power, is not only an important factor to improve the international competitiveness, but also a booster to accelerate the industrial transformation and upgrading and to promote sustainable economic development. Therefore, sci-tech and finance are the source power of economic growth, while the sci-tech finance is an important mechanism to realize the integration of sci-tech and finance. Sci-tech finance deeply combines the sci-tech innovation and financial innovation activities together, which is the way to construct innovative country and to achieve industrial restructuring and upgrading.This paper makes a theoretical research from three aspects, sci-tech innovation and financial development, financial system theory, and connotation of sci-tech finance. It founds that the scholars are mostly stay on the macro level, and there is no one to explore the development of sci-tech financial system from the regional level, and they don’t focus on the interaction between the governments, banks, insurance and security companies, etc. Thus, there is no regional sci-tech financial system architecture has been fully proposed. Meanwhile, scholars hold different views on the definition of the connotation of sci-tech finance. According to literature research, this paper defines that the sci-tech finance is a systematic and innovative arrangements of a series of financial instruments, financial institutions, financial policies and financial services, which based on sci-tech innovation, oriented to meet the financing demands of high-tech enterprises, supported by financial innovation and sci-tech innovation. The sci-tech financial system is an independent subsystem derived from the financial system, aiming to meet the special needs of sci-tech enterprises. It is the result of financial innovation.In the perspective of theory, this paper analyzes the relationship between the governments, banks, venture capital, insurance and security companies and other micro entities, which is based on following three dimensions, sci-tech capital market, sci-tech credit system and sci-tech policy. Under this mode, each microscopic finance subject has its own independent operating mechanism and the mutual cooperation mechanism, which can most effectively achieve the sci-tech financial objectives. Each micro entity needs to utilize its own advantage, such as governments’ policy guidance, banks’ capital, venture capital’s professional vision and high risk bearing capacity, insurance and security companies’ external credit level increasing and risk transferring. As a result, the barriers between the direct financing system and indirect financing system have been break. Through the communication and cooperation, the sci-tech financial system further improves the financing efficiency and the effect, and the sci-tech enterprise services as well.In the process of literature review, this paper selects the representative areas of domestic sci-tech finance, Zhongguancun Beijing and Suzhou City, to explain the regional sci-tech financial system model, and to summarize the experience and enlightenment. Based on the theoretical research and practice of sci-tech finance system, this paper selects Hangzhou City as the sample to be the main research object. By systematically analyzing the current situation and problems of sci-tech financial system in Hangzhou, the paper puts forward some feasible countermeasures. This article believes that Hangzhou City should expand the capital market scale and optimize the operation mode of sci-tech banks, accelerate the construction of enterprise credit system, promote the coordination and cooperation of banks, governments, insurance and security companies, cultivate sci-tech finance inter-disciplinary talents while promote the financial innovation and sci-tech innovation. Hangzhou City need to explore the development model with its own characteristics in practice, establish a sound regional sci-tech financial system, which could boost industrial transformation and upgrading, and promote the construction of innovative city. |
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