The Research Of The Financial Support For The Development Of China's Biopharmaceutical Industry

The development of biopharmaceutical industry is the foundation of The Healthy China Project.The biopharmaceutical industry is also one of China's strategic emerging industries.The development of the industry plays an important role in improving people's living standards and health care.The world's major economies are increasing investment in the biopharmaceutical industry.China's biopharmaceutical industry should not lag behind,and should keep pace with them.In the meantime,financial support is also crucial to the development of the biopharmaceutical industry and the structural upgrading of the biopharmaceutical industry.In this context,this paper studies the development of China's biopharmaceutical industry and financial support status,combines domestic and foreign development,and has the case analysis,summarizes the deficiencies of financial support of the development of biopharmaceutical industry in China,and proposes policy advice to improve the financial support.Based on the industrial life cycle theory,industrial cluster theory,SME theory,company capital structure theory,capital market theory,and etc.This paper analyzes the development status of China's biopharmaceutical industry,from the perspective of enterprise scale,enterprise development stage,government policy,capital market development.The financial support status of the industry is analyzed,summarizing the financial needs and financial supply of China's biopharmaceutical industry development,and the gap in demand supply,whether it matches,enough to support the sustainable development of the biopharmaceutical industry.This paper also combines the financial supporting for biopharmaceutical industry of the United States,Europe,and Japan with the analysis of the characteristics of these advanced economies supporting the development of biopharmaceutical industries,and to analyze and compare the characteristics of domestic financial support of biopharmaceutical industries.This paper also selects Wuhan Optics Valley BioCity for case analysis,analyzes the development status of biopharmaceutical industry and thestatus of industrial financial support in the national independent innovation demonstration zone,and summarizes the characteristics and shortcomings of domestic financial support of biopharmaceutical industry.According to the analysis and comparative analysis of the status of financial support for China's biopharmaceutical industry,this paper draws the following conclusions and put forward some policy recommendations: China's financial support for the development of biopharmaceutical industry,the support for SMEs still needs to be improved,especially the need to address the SMEs R&D expenditure.In the capital market,it is necessary to improve the securities market regulations,improve the market exit mechanism,strengthen market liquidity,and support the development of venture capital.Government also need to establish a social credit system,stimulate venture capital to invest innovation projects,and improve the credit guarantee system for biopharmaceutical enterprises.