Study On Financial Support To The Development Of Photovoltaic Industry In Xinyu City

As the world's increasing emphasis on environmental protection and advocacy for low-carbon economy, the PV industry is a sunrise industry with hopes, dreams and wealth stand out which with the features such as good security, ample reserves, the use of a wide range, environmentally friendly and so on. Xinyu PV industry which comes into being is under the vigorous development of the world PV industry, and has formed a relatively complete industrial chain, industrial agglomeration effect starting to show.In order to meet the financial needs to the development of PV industry, the government and the people's bank build platforms between banks and enterprise, attract local and remote banks'credit support. But the financial support to the development of PV industry in Xinyu City still faces many practical constraints and institutional barriers, shortage of funds was the main bottlenecks which has restricted the PV industry cluster development, uneven distribution of financial resources also hinder the development of small and medium PV enterprises. How to ensure the smooth flow of financing PV industry and the necessary funds in place to promote PV industry in Xinyu City, nowadays, healthy, stable and sustainable development is an urgent need to address the problem. Firstly, on the basis of analysis the theory and the status quo of financial support to the development of PV industry in Xinyu City, this article focuses on analysis of credit support to the influence and role of the PV industry development and through the Granger causality test and gray correlation analysis give empirical tests of internal relations between bank credit, credit products and the development of PV industry. The empirical results show that bank have a positive promoting role in developing the PV industry and the association between four major credit products and photovoltaic industry are all significant. Then, the article takes the LDK Solar for example to analysis the financing model of small and medium PV enterprises in Xinyu City. Finally, the paper presents the policy recommendations of the financial support to the development of PV industry in Xinyu City, and thinks that we should combine the internal and external environment of PV industry, and in three areas which include strengthen the system of financial support, implement the government policies and PV enterprises their own growth to ease and resolute the facing difficulties of financial support to the development of PV industry.