The Study Of Changchun High-Tech Development Zone’s Financial System For Scientific And Technological Enterprises

We believe that the bottleneck of the combination of technology and finance were the c apitalization of research-finding and high-tech enterprises development. The combination of technology and finance will succeed only if the innovation of technology can be used as mon ey maker. We can say that, the commercialization of research findings was a process of fortu ne making. The research-finding was never just a technology or science result. It has financia1values, and can create fortune. Moreover, the capitalization of technology was the only way that can accelerate the commercialization of research findings. In order to achieve the combi nation of technology and finance, we must improve the liquidity of equity of the high-tech en terprises. The capitalization of research finding and the high liquidity of high-tech enterprise s’equity were the most essential key which can enhance the negotiation-condition between VC and the company, and also can raise the guaranty for indirect financing.Hence, we need to concentrate on the government guidance,the market mechanism and the present environment of Chinese finance in the contraction of the investment and financin g system of high-tech enterprises in Changchun National Hi-tech Industrial Development Zo ne.