Research On The Efficiency Of Venture Capital From The Perspective Of Industrial Policy In Anhui Province

Industrial policy has a significant impact on the economic development of a country or region.Industrial policy not only guides industrial development,promotes industrial structure and optimizes the allocation of resources by clearly encouraging and emphatically supporting the development of certain industries through policy documents and supporting the supervision and supporting facilities of certain industries,but also influences the direction of venture capital investment,and optimize the allocation of resources.This also provides a perspective for the study of the efficiency of venture capital.Based on the perspective of industrial policy of Anhui Province,this paper specifically analyses the industry areas in which venture capital invests in Anhui Province,and evaluates the efficiency of venture capital by defining the fit degree between the industries encouraged and supported in the industrial policy of Anhui Province.Firstly,this paper interprets the five-year plan outlines of "11th Five-Year Plan" and "12th Five-Year Plan" of Anhui Province,and sortes out the industries that are clearly encouraged and supported by industrial policies.Then,this paper analyses the industry investment data,and collates the data of venture capital and Anhui after collation.By comparing and analyzing the industries that are encouraged and supported by the provincial industrial policy,the paper draws a conclusion that the investment orientation of venture capital in Anhui Province is in accordance with the industrial policy of Anhui Province.Then,this paper analyses the investment efficiency of venture capital in Anhui Province from the perspectives of the adjustment of the industrial structure and the return on investment of venture capital itself.Based on the perspective of industrial policy of Anhui Province,this paper finds that the investment orientation of venture capital in Anhui Province is in good agreement with the industrial policy of Anhui Province,and venture capital has high investment efficiency.Based on the perspective of industrial policy of Anhui Province,this paper also finds that there are some deviations between the industry investment and the industry policy of Anhui Province,which is not conducive to the optimization of the industrial structure.This paper analyses the distribution of regional investment of in Anhui Province,and finds that the concentration of venture capital of Anhui Province is too high.Investment projects are concentrated in the provincial capital cities.In addition,compared with the economically developed provinces around Anhui Province,the number of venture capital investment transactions in Anhui Province is insufficient.This paper affirms the efficiency of venture capital investment in Anhui Province to a certain extent,but also analyses some problems of venture capital.At the end of this paper,it also puts forward some pertinent suggestions for the existing problems.