Fiscal And Tax Policies To Promote The Innovative Development Of Energy Conservation And Environmental Protection Industries

Science and technology are the primary productive force,which is advocated by the international community,and scientific and technological progress cannot be achieved without innovation.In order to seize the development opportunity period and occupy the leading position,many countries have introduced various fiscal and tax policies to promote the development of emerging industries.As the first strategic emerging industry,energy conservation and environmental protection industry has received more attention and policy preference.With the outbreak of COVID-19 in the world,various countries have great demands on energy conservation and environmental protection industry and attach great importance to it.With the arrival of the post-epidemic era,promoting the vigorous development of energy conservation and environmental protection industry has become an important measure for many countries to promote economic development and boost the post-epidemic economy.For China,it is also an inevitable requirement to promote the upgrading of industrial structure and achieve sustainable economic and social development.In the draft of the Fourteenth Five-Year Plan for National Economic and Social Development and the Outline of the 2035 Long-range Goals released in 2021,it is mentioned that we will promote the research,development and application of new energy-saving and environmental protection technologies,equipment and products,and foster and strengthen the energy conservation and environmental protection industry.However,China’s energy conservation and environmental protection industry is still in the primary stage,the development of industrial structure is not stable,enterprises carry out technological innovation activities are risky,the investment return cycle is long,and the energy conservation and environmental protection industry is policy-oriented industry,the need to be supported and adjusted by the "visible hand" of the government.In this paper,the fiscal and tax policies as the entry point,in-depth combing of China’s fiscal and tax policies in this field in recent years,combined with the relevant data of China’s energy conservation and environmental protection listed companies,research and discuss the incentive effect of fiscal and tax policies on energy conservation and environmental protection industry R&D and innovation investment.This paper takes the data of 41 energy conservation and environmental protection listed companies in Shanghai and Shenzhen stock exchanges from 2011 to 2019 as the research samples,and discusses the incentive effect of tax incentives on R&D investment,among which,the heterogeneity of enterprise nature and enterprise size is analyzed.It is found that the income tax burden is negatively correlated with the R&D investment intensity of energy conservation and environmental protection enterprises,that is,tax incentives have a positive effect on the R&D investment of energy conservation and environmental protection enterprises,and enterprises can promote the growth of R&D investment while enjoying tax incentives.Tax incentives have a positive incentive effect on R&D investment of energy conservation and environmental protection enterprises,and the incentive effect of private enterprises is stronger than that of state-owned enterprises.Based on assets logarithmic grouping,it can be divided into assets ten billion yuan and above,in the enterprise of assets of ten billion yuan the following,the function of tax preferential policy of R&D is significant for positive incentives,the grouping of enterprise assets more than 10 billion yuan,while 10% of significant,but compared with assets of ten billion yuan of the following companies,the tax policy on R&D intensity of incentive is weak.Based on the above analysis,this paper puts forward the following Suggestions: to build a more targeted tax preferential policy system to increase the intensity of fiscal subsidies and transfers,adjust measures to local conditions,accurate policy,incline of the private enterprises preferential tax policy,continue to encourage change "mix",to promote energy conservation and environmental protection industry standards updated energy saving and environmental protection industry,improve the fiscal and taxation policy information disclosure system,cultivating scientific research talents,as well as encourage enterprises to absorb the talent to improve advice.It is hoped to provide reference for the government to cultivate and develop energy conservation and environmental protection industries and ensure the steady development of energy conservation and environmental protection industries.