Research On The Relationship Between Bank Credit And The Conversion Of New And Old Kinetic Energy In Manufacturing Enterprises

In recent years,China's economy has entered a "new era" of development,and the State Council has repeatedly emphasized the special status of the conversion of old&new kinetic energy in China's economic development.The proposal of "Made in China 2025" also provides a good opportunity for the development of the manufacturing industry.Therefore,it is an era proposition to explore and optimize the transformation of new and old kinetic energy of manufacturing enterprises based on the coordinated development of new technologies,new industries,new talents,new efficiency,and new environments,also a necessary measure to seize development opportunities.As capital is an important production factor.the growth of its volume will have an important impact on the optimization and creation of kinetic energy in any industry.Therefore,it is very necessary to theoretically sort out the mechanism of mutual influence between the credit scale of manufacturing banks loan and the conversion of old&new kinetic energy of enterprises,and test it empirically in the context of current economic development.By establishing a time series data model,this paper explores the mutual influence between China's manufacturing bank credit and the conversion of old&new kinetic energy of enterprises,and builds an evaluation system for the conversion of old&new kinetic energy of manufacturing enterprises.First,this article sorts out,refines,and explores relevant literature in the field,and on this basis,analyzes the interaction mechanism between manufacturing bank credit and the conversion of old&new kinetic energy of the enterprise,and clarifies the relationship between the two through the "capital transmission mechanism,signal mechanisms of conduction mechanism,feedback signal generation mechanism,optimization of financial structure,improvement of financial efficiency,and expansion of financial scale ”are mutually restrictive relations of mutual promotion.Secondly,this paper uses time series data such as “Total Credit of China 's Manufacturing Banks Loan” and “Talent Capital,Innovation Capability,Advanced Level,Industry Efficiency,and Environmental Pollution of Listed Manufacturing Companies,” based on the comprehensive evaluation of established old&new kinetic energy conversion Index system,using principal component analysis,to conduct a descriptive analysis of the credit scale of China's manufacturing banks loan and the current status of the conversion of old &new kinetic energy.Afterwards,this article uses the VECM model and Eviews to process the data,quantitatively study the dynamic co-integration relationship between China 's manufacturing bank credit and the conversion of old &new kinetic energy between 2004 and 2018,revealed the mutual influence between the two,concluded that China's manufacturing bank credit has a stronger influence on the conversion of old&new kinetic energy of enterprises.Finally,this article reviews the previous article and summarizes the relevant conclusions,and puts forward the following three suggestions:(1)The precise positioning of bank credit policies in the conversion of old&new kinetic energy in manufacturing companies shall be improved;(2)Credit service system should be enhanced,and the new&old kinetic energy conversion capabilities of enterprises shall be improved(3)The role of "innovation" in bank credit and the conversion of old&new kinetic energy of enterprises should be emphasized.