The Research On China’s Biomedical Industry Financing Model And Its Financing Efficiency

In recent years,with the continuous improvement of the living standards of our residents,the increasing demand for medical care by human beings,and the integration of biotechnology and pharmaceutical industry,the biomedical industry has become one of the most growth industries.As a technology and capital-intensive industry,the bio-pharmaceutical industry has the characteristics of long development cycle,large investment,high risk and high profit.It is the characteristics of its industry.Whether it is technological innovation or product development,it requires a lot of money to support it.Support is an important factor driving the development of the biomedical industry.Affected by China’s financing environment,financing system and the development characteristics of various bio-pharmaceutical enterprises,the ways and funds for financing can be limited.How to find financing methods suitable for their own development and how to improve financing under existing financing methods Efficiency,creating more economic benefits for enterprises is the key to corporate financing.At present,academic circles have studied the connotation of China’s biomedical industiry,the cultivation methods of industrial clusters and policy recommendations from the perspective of industrial economics,and have a certain development foundation.However.there are few literatures on systematic analysis and research on the financing mode and financing efficiency of the biomedical industry.Based on the characteristics of the bio-pharnaceutical industiy and its related financing theory and efficiency theory,this paper attempts to compare the bio-pharmaceutical industry and its financing status with the comparison of the "industrial sector" and"international sector" of the bio-pharmaceutical industry financing model.It provides reference for the development of the financing model of biomedical industry in China.At the same time,based on the DEA-BCC financing efficiency static model and DEA-Malmquist financing efficiency dynamic model,empirical analysis of the financing efficiency level and development trend of China’s bio-pharmaceutical industry under the existing financing mode,so as to rationally arrange financing methods for China’s bio-pharmaceutical industry.Provide suggestions for improving financing efficiency.The empirical research draws the following conclusions:(1)In 2013-2017,the overall financing efficiency level of China’s biomedical industry is low;(2)From the average of comprehensive technology financing efficiency and DEA-Malmquist index,2013-2017 China Biomedicine The average financing efficiency level and financing efficiency level of the industry based on equity financing,debt financing and endogenous financing are the decline of intermal financing,debt financing and equity financing from high to low;(3)pure technical efficiency changes The decline of the index is the main factor for the decline in the financing efficiency of China’s biomedical industry.