Research On The Impact Of Fiscal And Tax Incentives On The Growth Of China's Biomedicine Enterprises

With the progress of modern human society,human demand for medical care has shown an increasingly strong trend.As one of China's strategic emerging industries,the biomedical industry has very strong development potential and vitality.The development of the biopharmaceutical industry has a great impact on the national welfare level and social development level of a country,but many issues such as industry thresholds,long investment periods and financing difficulties have become obstacles to the development of biopharmaceutical companies.So biopharmaceutical companies have become the government agencies at all levels in our country focus on the objects of support and support,and adopt a series of fiscal and tax incentive policies such as financial subsidies and tax incentives to support the development of biomedical companies and enhance their vitality.For this reason,this article through the compilation of academic materials found that China currently lacks a systematic theoretical study of the impact of fiscal and tax incentives on the development of biopharmaceutical companies.Therefore,in order to study the impact of fiscal and tax incentive policies on biopharmaceutical companies,this paper introduces the concept of growth to study the impact of fiscal and tax incentive policies on biopharmaceutical companies in my country,which is of great significance in theoretical research and guiding practice.First of all,this article summarizes the previous studies of experts and scholars.Based on economics related theories,this paper analyzes and summarizes the role and mechanism of government fiscal and tax incentives on the development of the biomedical industry,so as to obtain fiscal and tax incentives for the biomedical industry.Combined with the current development status of my country's biopharmaceutical industry,the shortcomings in the implementation of fiscal and tax incentive policies issued by the government are summarized.Therefore,to a certain extent,it is necessary to study the impact of fiscal and tax incentive policies on the growth of biopharmaceutical companies.Then this article introduces the financial data of 83 listed companies in the biopharmaceutical industry listed in Shanghai and Shenzhen from 2014 to 2018,and uses factor analysis to reduce the number of dimensions and process multiple financial indicators to establish a comprehensive growth of biopharmaceutical companies.Evaluate the indicators and determine two measures of fiscal and tax incentives: financial subsidies and tax incentives,and related control indicators.Establish an empirical model of the relationship betweenthe growth of listed companies in the biopharmaceutical industry,government subsidies,and tax incentives,using multiple linear regression an empirical analysis of the relationship between fiscal subsidies and tax incentives for the growth of biopharmaceutical companies,and verification of the proposed hypotheses.Through the analysis of empirical research results,this article draws the following conclusions: first,fiscal subsidies and preferential tax policies have a positive role in promoting the development of the biomedical industry;second,compared with fiscal subsidies,tax preferential policies promote biological The development of the pharmaceutical industry plays a more significant role.Third,fiscal and tax incentive policies have different incentive effects on private enterprises and state-owned enterprises with different types of enterprises.Generally speaking,the promotion effect on the growth of private enterprises is higher than that of state-owned enterprises.After going through relevant literature and economic theory research analysis and industry status analysis,combined with the analysis of empirical research results,this article puts forward my own views and suggestions on how to promote the development of China's biomedical industry in terms of fiscal policy.Suggestions on fiscal policy are: increase the intensity of fiscal subsidies in a targeted manner and lower the threshold for fiscal subsidies;establish and improve the supervision and management mechanism of fiscal subsidy funds afterwards to improve the efficiency and effectiveness of fiscal subsidy funds;and guide social capital into the biomedical industry.The establishment of a government-led industry support fund.The suggestions on taxation are: perfect tax preferential methods and expand the scope of tax incentives;establish and improve the tax preferential system for talent training in the biomedical industry,and promote the construction of talents in the biomedical industry;other suggestions: the government should change its concept and re-target biomedicine Positioning in the development of the industry,constantly optimizing the market business environment,and creating a fairer and more fair market competition atmosphere for biopharmaceutical companies of different natures.