An Index System For Investment Environment Of Service Industry And Application

As the economy of China stepping into the new normal state andthe economic transformation experiencing an historical turningpoint,the promotion of transformation and reform driven by serviceindustry has been very important.Aiming at accelerating thedevelopment of service industry, the whole country put forwardpolicies and measures to guide the development of service industryand to absorb foreign investment. The investment environment ofservice industry determines the quantity and quality of theinvestment.Based on the related researches on the investment environmentof service sector,this article picks the factors that influenced theinvestment environment evaluation,using the econometric model toanalysis the correlation of factors,selecting the influence factorson investment environment of service industry, and fabricating anevaluation system for investment environment.The index systemconsists of GDP,the proportion that the second industry contributedto GDP,labor cost,human capital stock service industry,urbanizationlevel, market level, the level of legalization and infrastructureconstitute.We calculate the contribution of each factor in the indexsystem to the service industry investment environment of31 provinces, autonomous regions and municipalities through principalcomponent analysis, according to the contribution of each factor inturn: the market level, city level, per capita GDP, the level oflegalization, service industry, labor cost infrastructure,2ndindustrial added value/GDP; On this basis, we score and rankservice industry investment environment of provinces. And we alsocalculate it from the level of city, the rank of the contribution are asfollows: per capita GDP, urbanization, legal, infrastructure,2ndindustrial added value/GDP, labor cost of service industry, stock ofhuman capital, market level; On this basis, we score and rankservice industry investment environment of cities.We found that the contribution of each factor to the serviceindustry investment environment of provinces is significantlydifferent from cities. This also shows that the policies to optimizeinvestment environment of service industry for provinces can not beused for cities. Cities should clearly cognitive status of regionalservice industry investment environment first. And then optimizefactors that contribute greatly to the improvement of investmentenvironment. If not, the policies are difficult to achieve the idealeffect.