Research On The Impact Of China's Science And Technology Finance On Science And Technology Innovation

With the continuous advancement of society and the continuous development o f the economy,in the current information age,the status of this element of finance in modern development has become more prominent.Together with technology,it has gradually become the most active factor in productivity.If the country wants to further develop and enhance its international competitiveness,it must rely on technological innovation.Perfect financial services are the basic guarantee for technological innovation.How to promote technological innovation and industrial transformation and upgrading through financial innovation has become an important and urgent issue in the research field.Based on relevant research by scholars at home and abroad,this paper further explores the impact of China's science and technology finance on technological innovation and the differences in innovation levels among provinces.The panel data of 30 provinces,autonomous regions and municipalities directly under the central government in 2007-2016 were selected as samples.Firstly,the scientific and technological innovation index system was established to comprehensively evaluate the scientific and technological innovation indicators,analyze the difference s in the degree of scientific and technological innovation development in various regions,and then use the comprehensive index of scientific and technological innovation.The explanatory variables,with the four indicators of policy technology investment,technology innovation main input,financial market investment and foreign investment,are the indicators of science and technology finance,and further analyze the impact of science and technology finance on science and technology innovation.The empirical results show that with the development of time,the level of scientific and technological innovation in the country has been increasing year by year,but there are big differences among different regions.Among them,the technological innovation level in Beijing,Guangdong,Shanghai,Jiangsu and other places is at the leading level in the country,Hainan,Guizhou,Yunnan,Ningxia,Xinjiang and other places are at a relatively backward level.In general,the four science and technology financial indicators have positively promoted technological innovation,and the promotion of policy science and technology investment is the most significant.In the eight economic zones,technological innovation is affected by different scientific and technological financial indicators.The impact of various indicators of science and technology finance on scientific and technological innovation in the northwest region is not good,and even has a certain inhibitory effect.Finally,based on the empirical results,the paper ana lyzes the impact of science and technology financial indicators on scientific and technological innovation and the differences between regions,and proposes countermeasures to improve the effect of China's science and technology finance on scientific and t echnological innovation and promote the overall improvement of scientific and technological innovation.It is believed that improvement from the following aspects can promote the development of China's scientific and technological innovation: Give full pla y to the guiding advantages of the government,establish a financial service system for scientific and technological innovation,strengthen the ability of science and technology enterprises to obtain funds,improve the efficiency of capital use,strengthen the support of multi-level capital markets,and cultivate high-quality talents.