The Influence Of Financial Resources Mismatch On The Upgrading Of Industrial Structure

At present,China's economy is in the transition stage from high-speed development to high-quality development.With the optimization and upgrading of industrial structure and the continuous progress of production technology,a part of low-end production capacity is gradually eliminated,forming a period of painful period of industrial structure adjustment.The optimization and upgrading of industrial structure is an important part of promoting the high-quality development of China's economy,and the upgrading of industrial structure cannot do without the rational allocation of financial resources.At present,the allocation of financial resources in China still tends to be excessively biased towards state-owned enterprises.The contribution of small and medium-sized private enterprises to China's economy does not match with the financial resources obtained.In China,state-owned enterprises have inherent advantages in terms of policy support and operation scale,while private enterprises are facing more fierce market competition and greater business risks,and the regional development needs of some local governments are superimposed.All these factors lead to the allocation of financial resources in favor of state-owned enterprises,which requires us to adhere to the main body of state-owned enterprises under public ownership At the same time,we should give more support to small and medium-sized private enterprises.In the critical period of upgrading and optimizing the industrial structure,it is of great significance to realize the reasonable allocation of financial resources among different ownership enterprises for the optimization and upgrading of China's industrial structure.Based on the perspective of enterprise ownership,this paper combs the existing views and research conclusions,analyzes the relationship between financial resource mismatch and industrial structure upgrading from many aspects,and finds that financial resource mismatch caused by different enterpriseownership is an objective phenomenon,and the impact of this phenomenon on industrial structure is likely to develop with regional economy The exhibition level is different.Based on the provincial panel data from2008 to 2017,from the perspective of enterprise ownership,this paper takes the financial development level,the degree of government intervention,the degree of opening up and other factors into the control variables,and studies the relationship between financial resource mismatch and industrial structure.Considering the different levels of economic development in different regions,this paper carries out group regression on Eastern and central and western regions of China,and then uses two methods of changing the length of time series and replacing the explained variables to test the robustness of the regression results,and finally puts forward corresponding policy suggestions for the research results.This paper finds that there is a negative relationship between the degree of financial resources biased towards the allocation of state-owned enterprises and the upgrading of industrial structure,and the impact is also different in different regions with different levels of economic development.In this regard,we need to consider different economic development conditions in different regions when formulating industrial policies,speed up the system reform,increase the policy support for small and medium-sized private enterprises,dredge the financial resources support channels for small and medium-sized private enterprises,take high-quality development as the guidance,make more financial resources flow to efficient and high-quality enterprises,and reduce financial resources mismatch The obstacles of industrial structure upgrading make small and medium-sized private enterprises obtain better business environment and stimulate market vitality.In the process of financial resources allocation,we should give full play to the positive role of market mechanism in the allocation of financial resources.We should continue to deepen reform and opening up,find new economic growth points,and promote the continuous optimization and upgrading of the industrial structure.