Research On The Legal Regulation Of Soft Constraint On Subsidy Budget Of New Energy Industry In China

In the face of the current situation of the traditional energy increasingly exhausted,new energy resources as a strategic emerging industries,inevitably need government support,and fiscal subsidies have to optimize the allocation of resources,promote transformation and upgrading of industry,for the survival and development of new energy enterprises,fair competition between new energy market main body,is very important to China’s economic and social development.Since the introduction of the Renewable Energy Law in China,with the support of financial subsidies,the market share and consumer demand of new energy products have been expanding in a short period of time.However,the new energy financial subsidy has the problem of soft budget constraint.Excessive financial subsidy has caused problems such as low efficiency,cheating and unfair competition.Since Kearnai first put forward the concept of budget soft constraint in the1980 s,there have been disputes about the reasons for the formation of budget soft constraint.Theoretically speaking,most economists explain the causes of soft budget constraints from three aspects: "exogenity","endogeneity" and "policy burden",and think that "paternity","time inconsistency" and strategic policy burden are the reasons for the formation of soft budget constraints.In practice,in terms of legal system,China’s new energy industry subsidies lack of legislative norms,unclear procedures and standards,lack of supervision and accountability mechanism are the practical reasons for the soft budget constraints.Based on the new energy industry subsidies,therefore,the theoretical and practical study of the reasons for the soft budget constraint,with reference to the United States,the European Union and other new energy policies and laws in the developed countries,specific content and pay attention to the regulation pay equal attention to useful experience,this paper puts forward some countermeasure and the suggestion of new energy industry subsidies: perfecting the legislation of new energy industry subsidies;The physical and procedural rules that build the system;We will strengthen oversight and accountability mechanisms.Based on the above ideas,this paper is mainly divided into five parts:The first part is the introduction,which indicates that the research purpose of this paper is to regulate the soft budget constraints of new energy industry subsidies through the system attribution.The second part,starting from the concept of soft budget constraint from the interpretation of exogenous and endogenous and policy burdens three theory to explain the reasons for the formation of the soft budget constraint,and the soft budget constraint is obtained by empirical for intensifying the new energy and low efficiency of listed companies,the result of the unfair competition between market subjects.The third part combines the current situation of China’s new energy industry subsidies,from the legal system level of China’s new energy industry subsidies exist the problem of soft budget constraints,and believes that the lack of legal norms,procedural rules are not perfect and lack of accountability mechanism caused by the realistic reasons for the soft budget constraints.The fourth part draws on the legislative experience of developed countries in the new energy industry,and gets some useful inspirations,such as strengthening legislation,perfecting legal system and strengthening supervision.On the basis of the above analysis,the fifth part puts forward some suggestions,such as improving the current legal norms,constructing systematic procedural rules,and strengthening supervision and accountability mechanism construction.