Research On Financial Support To The Development Of Strategic Emerging Industry In Sichuan Province

After the outbreak of the global financial crisis,the economic system of all countries was unbalanced.Under the pressure of huge economic downturn,in order to seize the commanding heights of a new round of global economic competition and industrial development,countries began to transform their economic strategies and focused their attention on strategic emerging industries that are led by scientific and technological innovation.China first put forward the characteristic term of "strategic emerging industry",and actively explored in recent years,and achieved certain results.Finance plays an important role in the development of the industry.However,due to the imperfect financial system and insufficient financial support,China's strategic emerging industries are still in the initial stage of development..In recent years,in order to speed up the construction of the financial center in the western region,Sichuan Province regards the cultivation and development of strategic emerging industries as the key to industrial transformation and upgrading.Through the proposal of “12th Five-Year Plan” and “13th Five-Year Plan” strategic emerging industry development plan,Sichuan Province has defined the basic ideas of industrial development,and carried out the planning and deployment of the next industrial development,striving to build a gathering highland for the development of the country's strategic emerging industries.At present,the existing literature has little research on financial support for strategic emerging industries in provincial and municipal regions,most of which are at the national level,and the financial support research for the development of strategic emerging industries in Sichuan is almost blank,so this paper has certain research significance.This paper first defines the meaning of strategic emerging industries,financial support,and expounds the industrial development theory and financial support theory as the theoretical basis of this paper.According to the relevant theories,this paper combs the development status and financial support status of strategic emerging industries in Sichuan Province,and puts forward the problems that still exist in the process of financial support industry development.This paper selects the 2011-2017 semi-annual financial data of 41 strategic emerging industry listed companies in Sichuan Province as the index data source,establishes the panel data regression model,analyzes the impact of the credit rate of banking financial institutions,the bond payable rate,the equity financing rate,the internal funding support rate and the government support rate on the development of strategic emerging industries in Sichuan Province.The empirical conclusions are as follows: the credit rate of banking financial institutions and the equity financing rate are negatively correlated with industrial development;the internal funding support rate and the government support rate are positivelycorrelated with industrial development;the impact of bond support industrial development is not significant.Based on this,the paper puts forward relevant countermeasures and Suggestions,such as putting policy finance into practice,improving the service system of banking and financial institutions,building a multi-level capital market system,accelerating the reform of enterprises themselves,and increasing the support of technological and financial innovation to strategic emerging industries.