Research On The Development Of Venture Capital Investment In Urban Agglomerations In The Middle Reaches Of The Yangtze River

The city clusters in the middle reaches of the Yangtze River are super-large city clusters formed by the three sub-city communities of Wuhan urban agglomeration,Changsha-Zhuzhou-Xiangtan urban agglomeration and urban agglomeration around Poyang Lake.In recent years,China has continuously proposed to strengthen independent innovation and improve the country's overall competitiveness.The urban agglomeration in the middle reaches of the Yangtze River,as the new economic growth pole driving innovation and development in the central region,is an important engine for the rise of the central region in the national independent innovation system.As a financial tool to promote the transformation of regional scientific and technological achievements,venture capital investment can well enhance the regional comprehensive competitiveness.Therefore,it is of great significance to study the status quo and problems of entrepreneurial venture capital development in the middle reaches of the Yangtze River in order to enhance the comprehensive competitiveness of the central urban agglomeration.Based on the current situation and influencing factors of venture capital investment in the middle reaches of the Yangtze River,this paper selects the panel data of 22 prefecture-level cities in the middle reaches of the Yangtze River from 2007 to 2017 as samples,and uses the method of econometrics to construct a panel econometric model.An empirical analysis of the influencing factors of venture capital investment in the middle reaches and the three major sub-cities.The study found that from an overall perspective,the government policy environment,financial development level,technological innovation capability,and information infrastructure level can promote the development of venture capital investment in the middle reaches of the Yangtze River urban agglomeration,and the degree of impact decreases in order;from a partial perspective,the Wuhan urban agglomeration The development of entrepreneurial venture capital mainly depends on the local financial development level,information infrastructure construction level and the role of the government's policy environment.The Changsha-Zhuzhou-Xiangtan urban agglomeration relies on technological innovation capabilities and information infrastructure construction level to promote the development of local venture capital investment The urban agglomeration around Poyang Lake mainly relies on the financial development level,information infrastructure construction level,and technological innovation capabilities to promote the development of its venture capital investment.Therefore,on the basis of drawing on the development experience of venture capital investment in the three mature urban agglomerations of the Yangtze River Delta,the Pearl River Delta,and Beijing-Tianjin-Hebei,It proposed to increase regional policy support,cultivate regional science and technology financial entities,deepen regional characteristic technological innovation,give play to the central city of Wuhan,radiate the role of the central city of the Yangtze River,improve the level of financial technology and industrial information interconnection,and promote the technology of the three major urban agglomerations Suggestions on scientific division and coordination of finance and industry.