Study On Financial Support For The Development Of Strategic Emerging Industries In Jiangsu Province

The global financial crisis has had a serious impact on the economic development all over the world. In order to recover from it as soon as possible, countries such as the United States, Britain and France came out new policies one after another, taking science and technology innovation as the priority. For the sake of occupying a place in the fierce competition in the world, the State Council of China put forward the decision to cultivate and develop the strategic emerging industries in 2010.Considering the economic base and industry advantage, Jiangsu Province focus on the development of ten strategic emerging industries including the new energy, new materials, smart grid, energy saving and environmental protection, networking and cloud computing, high-end equipment manufacturing, biotechnology and new medicine, the new generation of information technology and software, new energy vehicles and marine engineering equipment. After years of development, strategic emerging industries in Jiangsu Province has begun to take shape,becoming an important driving force to promote the upgrading of industrial structure and growing of the province’s economy.The development of strategic emerging industries need long-term and stable financial support. An efficient financial system is crucial. The paper researched the situation of financial support for strategic emerging industries in Jiangsu Province. Firstly, on the basis of research results at home and abroad, the concept and characteristics of strategic emerging industries are defined. And then the paper expounded the related theories of industrial development and financial support. Then basing on the actual situation of the strategic emerging industries in Jiangsu Province, the paper studied different financing ways. The results show that there are several questions in the financial system, such as limited support strength of government finance, the lack of financial innovation of commercial banks, lager difficulties in financing from capital market and imperfect venture investment system. In the empirical part, the paper studied the different impact of financial support on the development of strategic emerging industries in Jiangsu Province using factor analysis and regression analysis method. The paper also studied the different ways and degree of financial support for strategic emerging industries in different industrial scales using comparative analysis method.Finally, according to the empirical results, the paper proposed suggestions to improve the financial support system from the perspective of government, commercial banks, capital market and venture investment.