The Research On The Regional Differences And Influencing Factors Of The Development Of Science And Technology Finance In China

In the report of the Eighteenth National Congress of the Communist Party of China,it was stressed that we must implement the strategy of innovation driven development,and it was also emphasized that scientific and technological innovation is the strategic support to improve the overall national strength and social productive forces.Meanwhile,Government departments at all level give attention to science and technology innovation,as the core of sustainable development of the national economy.In order to promote the integration between science,technology and finance,the Ministry of science and technology and the people's Bank of China and other departments have issued the opinions on vigorously promoting institutional innovation and solidly providing services in science and technology finance.Finance of science and technology,as an emerging industry,is benefit to improve the ability of China's total factor productivity and technology into productive forces,thus adjusting the national and regional economic structure,and promoting economic quality and efficiency upgrades,and keeping rapid economic development.However,there is the regional imbalance in the process of promoting technology finance in expanding the regional scope.In the paper,we have studied the degree and the influencing factors of China's science and technology financial development differences,which benefit to reduce the non-balanced degree of financial support for regional science and technology innovation from two aspects of technology and finance,adjust the supply structure of regional science and technology finance,adapt to the needs of local science and technology finance.Meanwhile,the adjustments are also conducive to the rational allocation of regional science and technology financial resources and improve performance,and to enhance the ability of regional scientific and technological innovation.It is of great practical significance to speed up the transformation of China's economic development mode,narrow the polarization,improve the quality of China's economic development,and enhance China's international competitiveness.In order to understand the situation and the influencing factors of China's regional financial development in science and technology objectively,optimize the financial structure of our country science and technology,at first,we discussed the micro foundation and the macro environment from the theoretical aspects in the paper as a result of regional differences in technology finance.On the other hand,we analyzed the current situation of the regional differences of China's science and technology finance from four aspects such as venture investment funds,technology and financial capital market,science and technology loans,and science and technology financial environment.Then we constructed the index system of the development in science and technology finance,and calculated the index of science and technology finance in our country through the scientific and technological finance data in 2014.Meanwhile,the performance of China's regional science and technology finance is measured by using the data envelopment analysis method.The region is divided into three echelons according to the degree of development of science and technology finance and performance results.Finally,taking the performance of science and technology finance as the dependent variable,we analyzed the three factors that affect the development of science and technology finance in china by use of Tobit model.The calculated results show that the government funds and the development of science and technology finance are negatively correlated,and the financial scale and venture capital investment scale are positively correlated with the development of science and technology finance.We also put forward some suggestions on optimize the government financial allocation mechanism.The establishment and development of local characteristics of scientific and technological financial institutions should be encouraged.The regional science and technology financial cooperation should be promoted actively.We should also adjust the structure of local science and technology finance,and integrate the resources,and create a good financial environment for science and technology.