Research On Financing Support For The Development Of Private Economy In Hebei Province

Private economy has become an indispensable force to promote China’s development,a major field of entrepreneurship and employment,an important subject of technological innovation,an important source of national tax revenue,and has played an important role in the development of China’s socialist market economy,the transformation of government functions,the transfer of surplus rural labor,and the development of the international market.As an important part of national economy in Hebei province,private economy has played an important role in promoting economic development and expanding urban employment.At present,the coordinated development of the Beijing-Tianjin-Hebei region has become a national strategy.The whole province is firmly on the road of transformation and upgrading and green development.The private economy has ushered in a period of rapid development.However,the problem of difficult financing is troubling the private economy,seriously hindering the development of private economy,and the economic and social effects of private enterprises are greatly threatened.In order to solve the financing problem of private economy as soon as possible and let private economy continue to play its strong role,it is not only the focus of the government,but also the focus of all sectors of society.In 2018,the standing committee of the Hebei provincial committee held an expanded meeting to convey the spirit of general secretary Xi Jinping’s important speech at the symposium on private enterprises,pointing out the need to deepen the reform of "regulation and service",thoroughly implement various policies and measures of the party central committee,reduce the tax burden on enterprises,and solve the problem of difficult and expensive financing for private economy.Based on this background,this paper closely around the development of private economy in Hebei province,to analyze the current situation of the development of private economy in Hebei province as a starting point,based on the analysis of financing challenges faced by the development of private economy in Hebei province,on the basis of mature at home and abroad for reference,the mode of financing,to further explore the financing model of innovation to fit the development of private economy in Hebei province,which is advantageous to the development of private economy in Hebei province put forward financing support policies and measures,so as to financing support of private economic development in Hebei province to provide strong theoretical support.The research content of this paper mainly includes five parts: The first part,the private economy and the financing correlation theory summary.This part as the theoretical basis of the full text,first elaborated the meaning of private economy,based on the theoretical circle of private economy has three more representative views,this paper USES the narrow sense of view,namely refers to the individual economy and private economy.After that,it expounds the relevant theoretical basis of private economy financing: Marx’s theory of capital accumulation,MM theory and its extension,balance theory,and priority financing theory.The second part,the development status of private economy and development goals.Starting from the analysis of the basic situation of private economy in Hebei province in 2018,including the main indicators of private economy in Hebei province and the growth trend of private economy in recent five years.Furthermore,it points out the future development goals and tasks of the private economy in Hebei province,that is,by the end of 2020,the added value of the private economy in the province will take up more than 70% of the GDP,the number of 10,000 market players will exceed the national average,and the number of employed people will take up about 80% of the second and third industries.Among the top 500 Chinese private enterprises in Hebei province,strategic emerging industries and modern service industries account for more than 60%.Private economic tax revenue accounts for more than 75% of all tax revenue.The third part analyzes the challenges and causes of private economy financing in Hebei province.The contradiction between huge capital demand and financing constraint is an important factor restricting the development of private economy in Hebei province.To sum up,it mainly includes such problems as difficult financing,expensive financing,unreasonable financing structure,imperfect financing environment and narrow financing channels.The fourth part,Hebei province private economy development financing support experience draws lessons from and the pattern innovation.Based on the analysis of successful financing experience at home and abroad,such as perfect policy financing support,increasing direct investment,multi-level capital market,and emphasis on developing venture capital,this paper proposes financing mode innovation suitable for the development of private economy in Hebei province.This paper puts forward model innovation mainly from five aspects: strengthening government policy financing support,resolving the financing mode of traditional industries with excess capacity,promoting the transformation and upgrading of small and medium-sized technological enterprises,boosting the "going out" of private enterprises,and preventing financing risks.The fifth part is the financing policy and measure of private economy development in Hebei province.First,strengthen financial financing support;Second,improve the indirect financing system led by credit market;Third,broaden financing channels and innovate financing products;Fourth,reduce financing cost and improve financing efficiency;Fifth,strengthen the private capital gathering and investment guidance;Sixth,consolidate the industrial foundation of private enterprises and improve the mechanism to prevent debt financing risks.