A Study On Financial Support Of Innovative Cities’ Construction

In2010, for implementing the Party Central Committee and State Council on thestrategy of ‘strengthening national independent innovation ability and constructing aninnovative country’, Ministry of Science and Technology have been launched a pilotproject of National Pilot Innovative Cities (Areas). As a representative of ChongqingCity, Shapingba District is one of the National Pilot Innovative Cities (Areas). In recentyears, with the development of the pilot work on National Pilot Innovative Cities(Areas), the construction and development of Innovative Cities becomes the coreproblem that Chinese academia focus on. As the kernel of modern economy, the financeis bringing the important effect into play in supporting National Pilot Innovative Cities’construction. A fully functioning and high-quality financial support system plays a keyrole in the advancement of technology and in the construction of Innovative Cities.Therefore, how to make full use of finance in the construction of Innovative Cities andstrengthen its supporting power and find the way to support and accelerate thedevelopment of Shapingba ‘National Pilot Innovative Area’, is the most importantproblem that Chongqing’s financial departments should focus on and solve quickly atpresent.Based on reviewing and summarizing the literature of domestic and abroadresearch results, this article first defines the relevant concept of innovative city andfinancial support, analyses the related theories of financial support and explains thedetails of financial support the construction of the innovative cities mechanism. Theinnovative cities financial support is through the government policy, financialorganizations, financial market, financial services and supporting system approaches forthe innovative cities construction to provide adequate funding, at the same time, inscattered in the process of innovation of various risks, and promote the healthydevelopment of high and new technology enterprise, thus further promote theconstruction of innovative cities.Secondly, this article, based on studying the theories, selecting American SiliconValley, Tokyo in Japan and China’s Beijing, Shenzhen, which made great achievementin financial support the innovative cities, to make a comparative analysis, summarizedthe cities (areas) financial support the construction of innovative cities’ characteristicsand laws, to get some important enlightenment: First, policy financial system is an important motive that push innovative cities’ construction. Second, Commercialbanking system is a booster of innovative cities’ construction. And then, a strong capitalmarkets system is a foundation of innovative cities’ construction. Finally, a perfectsupporting service system is the guarantee of innovative cities’ construction.Finally, this article will focus on Shapingba district in Chongqing’s ‘National PilotInnovative City’ construction on the financial support and on the analysis of the regionalinnovation, after analyzed Shapingba district’s present situation and problems offinancial support, put forward of the financial support construction countermeasures inShapingba district: First, improve the policy financial system. Second, innovate thefinancial institutions to make financial organization system perfectly. Third, develop amultilevel capital market system. Fourth, optimize the financial supporting servicesystem.