The Analysis Of Taxation Subsidies Effect On China’s New Energy Listed Companies

New energy is new energy that relative to conventional energy sources, which adopted new technologies and materials. It refers to the various forms of energy other than the traditional energy sources, such as solar energy, wind energy, ocean energy. After2006, the government began to attach great importance to the development of new energy industry, the implementation of the "People’s Republic of China Renewable Energy Law "makes the new energy industry in China officially to develop and utilize, In2012, the introduction of "The12th five-year national strategic emerging industry development planning" improves the development of new energy industry to a strategic height. And, at the same time the government began to vigorously support the development of new energy industry.In this paper, we begin with the sort of fiscal subsidies theory and literature, and then summarize the path and the effect of policies of listed companies and taxation subsidies. We found out that most domestic scholars concern on the analysis of the new energy industry in the fiscal subsidy policy interpretation, target subsidies, and lack of the analysis the effects of policy, which is the weakness of current research areas.With the analysis of statistics that related to the16new energy listed companies, we found that:the scales of most of the new energy listed companies are around100billion, and the new energy industry is still in its early stages of development. The operating profit is not stable, the bigger the more obtained. Most of the listed companies operating profit of500million, and some even hovering in the tens of millions of dollars, the benefits of listed companies are not very well. The total intangible assets of5billion and the technological progress need to be improved. It needs government support and companies should also increase the investment of R&D.The empirical test concluded generally consistent with the theoretical predictions, most of the fiscal subsidy policy have a high contribution to the development of new energy listed companies’ size, efficiency and technological. Subsidy income is not very useful for the operating profit. This may be because the error caused by the difference in sample data. But it should be paid attention, the government can improve the efficiency of new energy listed companies from subsidies input and devote greater efforts.Finally, we give the countermeasures and suggestions for improving the fiscal subsidy policy effects from government. For the government level, they can optimize government fiscal support policies, programs, and determine fiscal support policy object, scope and channels while increasing the intensity of fiscal subsidies. And set up the relevant policy oversight mechanisms to ensure the effective and efficient implementation of the policy. We can optimize the industrial structure, and provide an opportunity to promote the development of new energy listed companies. For the enterprise level,new energy companies must take into account in the development of the scale and efficiency. And, take full advantage of the fiscal subsidy funds to improve corporate performance. They also need to increase the R&D investment to enhance independent innovation capability.