Research On The Effect Of Public Subsidy Policies For China's New Energy Vehicle Industry

Under the background of energy shortage,environment pollution,new energy vehicles is the trend of the development of the auto industry,the development of new energy vehicles can not only alleviate the pressure of the increasingly aggravation of the energy shortage,environment pollution,but also can provide the possibility for a new economic growth point.The development of new energy automobile industry has become an important task to promote the sustainable development of society and economy.The automobile industry is one of the pillar industries in China,which is closely related to economic growth and people's livelihood.The subsidy policies for new energy vehicles has been implemented in China for nearly a decade,although the policy brought about some issues in the implementation process,but it has also promoted the development of new energy vehicle industry.This paper surveyed the fiscal subsidy policy at national and local level for new energy vehicles each year and found that although the subsidy are decreasing,but subsidies standards are higher in the economically developed regions such as eastern than in northwest regions,the less developed areas.In this paper,the influence of government subsidy policy on the new energy automobile industry is tested by combining theory with empirical analysis.Theoretical model results explain the excess in the practice of the manufacturers making low-end electric cars for more subsidies,and draw the conclusion:the new energy vehicles for the long-term development and the necessity of research and development of high-end perspective,R&D subsidy policy subsidy policy is superior to the products.Part of the empirical results show that the government subsidies on the whole,can promote the research of new energy automobile enterprises innovation,mainly reflected in R&D spending accounts for the proportion of sales and R&D investment amount two development indexes,through the regression model of research and analysis,found that in the control enterprise assets and financial leverage variable,Although overall,the government subsidies can stimulate enterprise research and development,but compared with battery or launch machine industry,vehicle industry subsidies to the enterprise R&D has a crowding out effect on R&D spending.The results show that the impact of product subsidy on R&D investment is weaker than that of R&D subsidy.In addition,this article also examined subsidies threshold to improve the effect of the policy adjustment,through the model to the output of energy saving and new energy vehicles is forecasted,the prediction model of the empirical results show that the energy saving and new energy automobile production forecasts and the fit of the actual value is very high,and the actual and estimated values quite close,however,subsidy policy adjustment has caused the energy saving and new energy automobile production temporary changes greatly,improve the threshold of R&D subsidy policy has a short-term negative impact on industrial output,the policy for restraining the expenses and promote enterprise to high-end research and development has a certain positive role.Results show that the original subsidies threshold low resulted in the excessive of low-end car production,and increase threshold of subsidies to promote the research and development,has the positive significance,incentive enterprises will develop into more high-end car production.This paper mainly studies the government subsidies on new energy vehicles research and development of enterprise and innovation policy effect,in the existing literature,analysis of new energy automobile policy measures in the field of literature is very limited,and,in 2017,after adjustment of subsidies policy in the new energy vehicles also nobody research assessment,this article has carried on the innovation to this part of the literature;And this article also consulted Liu and Li(2014),the mathematical model research methods in the article,in making modest changes to their basic utility model based on the application to this article focuses on the new energy automotive industry,subsidies for investment strategy and product development strategy under the two different strategies of product quantity,quality improvement,profit and so on were compared;In addition,the effect of subsidies for new energy automobile industry policy adjustment measure,according to the data used in this article,the Peltzman(1973),the simplified empirical research method is more suitable for research in this paper.In the last part of this article,we puts forward three suggestions,the government should further strengthen the research and development of high-end technology subsidies,to raise the threshold of subsidies to reduce low production capacity,at the same time,the push for high-end technology breakthrough speed,promote enterprise for high-end the release of production capacity;In order to make the subsidy policy better in practice,the government should make dynamic adjustment to the subsidy method and standard in combination with the policy practice to avoid the waste of financial funds.In addition,the government at the same time of subsidies for research and development and product should be more in subsidies and battery charging pile of industry chain enterprises,support the development of the industry and battery industry,charging pile,in turn,stimulates the market share of new energy vehicles.