The Study Of Finance For The Civil-Military Integration Industry In China

The military and civilian integration experienced beginning phase,army-civilian combination and civil-military integration three periods in China. General Secretary Xi put forward."with demand for traction and state-dominated, striving to form military and civilian integrated deeply in infrastructure and importance territory." at the Third Plenary Session of the eighteen, which indicating the path for planning economic development and national defense construction as a whole, and achieving the unity of rich countries and the army, and signing the civil-military integration in our country enter into a new development phase. "Civil-Military Integration" involves in many fields, which include exploiting dual-use technology, fusing management system and operation mechanism, industrial chain blend hierarchically, capital fusion and talents sharing etc. It is the inevitable choice of modernization of national defense, and is the strategic task of China’s new industrialization road.The finance of national defense and military industry experienced the following development course:dominated by government, landed from state-run banks, relied on market mechanism financing. The social capital that introduced to military and civilian industry promotes upgrading of industrial structure, improve the ratio of enterprise operation and management efficiency and fund efficiency. But the military project in China still exist problems on financial fund, capital market, institutional barrier, investment barriers,and these reason lead some matter in our military and civilian integration, such as the sole investment subject, low capital efficiency, dull financing mechanism.In this paper, I summarized the foreign military and civilian integration industry development experience and capital fusion. Giving full consideration to the technical content, product characteristics, enterprise scale and risk tolerance, I design a suitable enterprise financing model to realize the strategic target for military and civilian enterprise capital fusion.The first chapter of the paper is introduction, Mainly comb the content of the article and system overview the content of the entire article. The chapter includes five parts:the first part of the content selected background, with summarizing the development of our country "civil-military integration" strategy and military enterprise market financing process. The second part is about the research significance. The third department about literature review. The fourth part is the thesis framework, mainly overview the article structure. Last part introduces the innovation points in this paper.The second chapter is related to the civil-military integration industry concepts and theoretical basis. This chapter is divided into two parts.Part one is about the concepts of military-into-civilian, civil-military, civil-military integration. The second part introduces the theory of public goods, equity theory, the project distinction theory.The third chapter analyzes the financing status of military and civilian integration industry in China. This chapter is divided into three parts. The first part introduces the civil-military integration industry development situation, including primary participants, industrial field and general development situation. The second part analyzes the industry financing problems, including lack of a diversified investment subjects and financing incentives, the low efficiency service efficiency of funds. The third part of this paper analyses the causes of financing difficulties, including inappropriately allocate financial capital, inadequately use capital market, military enterprise and academy system reform lag behind, investment barriers and so on.The fourth chapter is about financing experience from foreign military and civilian integration industry, This chapter is divided into two parts, The first part introduces the United States, Japan, Israel’s military and civilian integration industry development situation and their financing pattern. The second part analyses the significance for the development of the military and civilian integration industryThe fifth chapter is the focus of the article, mainly introduces the design of military and civilian integration industry financing model. This chapter is divided into six parts. The first part reviews the civil-military integration industry financing mode of design thinking; The second part introduces the government leading business financing models; The third part introduces relying on stocks and bonds market of enterprise financing models, The fourth part analyzes the use of investment funds to finance for medium-sized enterprise, The fifth part introduces the financing mode of the international market. The sixth part introduces the use of the PPP and ABS project financing modeThe sixth chapter is about the policy suggestions for military and civilian integration industry development in China. According to five aspects, as enterprise system reform, the transformation government function, the use of capital market and so on, this chapter put forward related suggestions to perfect the financing model for China’s Military and civilian integration industry.