Research On The Influence Path Of Fiscal Science And Technology Expenditure On The Competitiveness Of China’s High-tech Industry

Fiscal expenditure on science and technology is the main source of R&D funds in China.It undertakes the important function of the government to support industrial innovation.For high-tech industries with high technology proportion and strong capital demand,financial science and technology expenditure plays an important role in improving the competitiveness of high-tech industries.In order to make an all-round study on the path mechanism of financial science and technology expenditure affecting the competitiveness of high-tech industries,this thesis first analyzes the diamond elements affecting the competitiveness of high-tech industries from the theoretical level,and constructs their influence path hypothesis by using the internal and external cause relationship and factor result relationship between diamond elements.Based on the characteristics of high-tech industry,this thesis constructs a diamond model integrated into the core of technological innovation.The four diamond factors affecting the competitiveness of high-tech industry include:"production factors","enterprise competitive strategy","relevant supporting industries" and "demand conditions".The four factors that affect the industrial competitiveness are the internal transmission of technology,which can improve the industrial competitiveness.As an innovative development tool at the level of government funds,Fiscal Science and technology expenditure plays the role of external factors affecting the development of high-tech industry by giving play to the macro-control power outside the industry.It can play a positive role in the competitiveness of China’s high-tech industry through the growth path of innovation factors and the influence path of enterprise innovation strategy.Secondly,the thesis analyzes the relationship between financial science and technology expenditure and the competitiveness of high-tech industries from a practical perspective.In the analysis of the scale and structure of Fiscal Science and technology expenditure,the article finds that the increase of R&D funds in the industry is an important way for Fiscal Science and technology to support the development of high-tech industry.At the same time,this thesis makes a preliminary measurement of the competitiveness of high-tech industries,and makes a sub index and comprehensive measurement from the four aspects of scale strength,foreign trade capacity,profit level and innovation efficiency of high-tech industries,so as to significantly represent a series of industrial development achievements and comprehensive strength of the industry.It is found that the competitiveness of China’s high-tech industry shows an increasing trend year by year with the increase of financial science and technology expenditure,and shows obvious differences in each sub industry.Subsequently,based on the analysis of theoretical and practical dimensions,using the data of China Science and technology statistical yearbook and China high technology industry statistical yearbook from 2009 to 2019,the thesis applies structural equation model to test the constructed path system.The results show that "financial science and technology supportproduction factors-industrial competitiveness" and "financial science and technology support-enterprise strategic competition-industrial competitiveness" both exist significantly,The effect of promoting the competitiveness of high-tech industries through the path of innovation is greater than that through the indirect path of promoting the competitiveness of high-tech industries.At the same time,it is found that a series of measurement elements of China’s financial science and technology support and the competitiveness of high-tech industries show obvious regional imbalance and differences.Therefore,according to the output results of the model,this thesis ranks 31 provinces in China according to the overall situation of financial science and technology support,four diamond elements and industrial competitiveness,and divides the national provinces into four echelons for analysis according to the situation of different regions.Finally,the thesis suggests that in the future,we should improve the competitiveness of China’s high-tech industry from three aspects:improving the strength of financial science and technology support,promoting the construction of regional factor agglomeration and innovation system,and enhancing industrial innovation strategy and kinetic energy.