Analysis Of The Main Factors Affecting Independent Innovation Capability In The High-tech Industry Of China

Since reform and opening up, our economy has witnessed great-leap-forward development, which to a great extent is an extensive path based on the consumption of large amounts of resources. In order to realize sustainable economic progress, it is a must for us to change the way of development, and it is a crucial approach to develop high technology industry and optimize the industrial structure, with technical innovation as the driving force. High technology industry features high technological level, excellent product performance, quick technological upgrading and so on, and it has become a key indicator to evaluate the economic level of a country or an area. As put forward by countries with backward technology to catch up with and surpass countries with advanced technology, independent innovation mainly refers to the essence of mastering the core technology independently to improve the competitiveness. Consequently, for countries with backward technology, it is of great significance to study the independent innovation of high technology industry with the purpose of improving international competitiveness and promoting industrial technological level so as to realize sustainable development.This paper summarizes the theories relevant to innovation in the high-tech industry, and put forward four main factors affecting independent innovation in the industry by combining with the present development situation. The four factors are enterprise R&D capital input, government procurement, FDI, and financial support. Enterprise R&D capital input directly determines the scale of independent innovation, which significantly affects the output of industrial independent innovation. Government procurement refers to the direct large-scale procurement by the government with certain protective and supportive policies provided, it is featured by stable demands for the independently innovative products, and is therefore conducive to enhancing the confidence of the independent innovation enterprises. FDI affects independent innovation in the high-tech industry of China mainly through technology spillover, competition, talent flow, demonstration and model effects as well as correlative effect among industries. Financial support mainly refers to the specialized financing service provided by financial institutions to the high-tech industry. It is targeted at effectively supporting the independent innovation of the high-tech industry. In the empirical part, the data related to independent innovation of the recent ten years in the high-tech industry of cities in30provinces of China are sorted out, and four main indicators are selected based on theoretical analysis of the affecting factors:R&D input, government procurement, FDI, and financial scale. Quantity of patent applications and new product sales revenue are taken as the explained variables, and regression analysis is conducted based on fixed effect model of the panel data, showing that the four explaining variables all have a positive promoting effect on independent innovation, which verifies the previous theoretical analysis.At last, some suggestions are put forward for promoting independent innovation in the high-tech industry of China. In the aspect of government procurement, the scale of government procurement should be enlarged, especially in independently innovative products, also, the relevant policies should be improved by introducing the sunshine procurement and perfecting the guiding and supportive policies. In the aspect of FDI, enlarging FDI introduction scale, reasonable FDI introduction into the less developed central and western regions of China, differentiated attraction of FDI, strengthening talent cultivation, optimization of FDI source structures, and vigorously attracting European and American FDI of higher technology level are suggested. In financial support, firstly, strengthening bank support for independent innovation; secondly, striving to develop the multi-level capital market and then the venture capital market, introducing more venture capital into independent innovation of the high-tech industry, so as to make a contribution to the development of high-tech industry in our country.