The Impact Of Industrial Policy On The Competitiveness Of Enterprises

As the main body of the industrial economy,the manufacturing industry is the driving force for the economy to achieve high-quality growth.The scale and level of manufacturing and the international division of labor in which it is located are important indicators of the comprehensive strength of the country and the embodiment of the core competitiveness of the region.At present,industrial policy has made a strong return in the field of international economic policy,and major developed economies have successively formulated and implemented strategic plans to promote the development of their high-end manufacturing industries represented by the United States,Germany,And Japan;emerging economies,represented by India and Brazil,have also issued strategic plans to accelerate the promotion of advanced manufacturing.With the development of China’s economy,China’s low-end manufacturing model of developing low-end manufacturing industry in an investment-driven manner by virtue of the demographic dividend will be difficult to sustain,in order to cope with the new trend of domestic and foreign manufacturing development and the new challenges brought by technological upgrading,China put forward the "Made in China 2025" strategic plan in March 2015,trying to integrate informatization and industrialization,develop advanced manufacturing,and drive the manufacturing industry to the high-end of the manufacturing chain.Realize the transformation from the past manufacturing cost advantage to quality advantage and innovation advantage,and enhance the competitive level of China’s manufacturing industry.Taking the 2012-2019 Shanghai and Shenzhen A-share listed companies as a sample,this paper uses a double differential analysis method to deeply investigate the impact of the strategic industrial policy of "Made in China 2025" on the competitiveness of enterprises and its mechanism.The study found that the "Made in China 2025" policy can significantly enhance the competitiveness of enterprises after implementation,this conclusion is still true after the robustness test,and the "Made in China 2025" policy shows the sustainability of the policy effect in the dynamic test of policy effect.At the same time,the "Made in China 2025" policy effect also shows heterogeneity,based on the nature of enterprise property rights,the industrial policy significantly promoted the competitiveness of state-owned enterprises,the effect and significance of non-stateowned enterprises is not as good as state-owned enterprises;based on the enterprise life cycle,the industrial policy is more to promote the decline and maturity of enterprises competitiveness,the lack of impact on the competitiveness of enterprises in the growth period;from the perspective of regional differences in enterprises,The implementation of this industrial policy in the eastern region has a better effect on improving the competitiveness of enterprises.Further explore the "Made in China 2025" policy in the implementation of the guidance incentive mechanism,innovation incentive mechanism and constraint adjustment mechanism,the study shows that the policy through the guidance incentive mechanism and innovation incentive mechanism to promote the inflow of capital and technology agglomeration,can bring about the improvement of enterprise competitiveness,and the constraint adjustment mechanism strives to create a good market competition environment to promote the competitiveness of enterprises The role is not obvious.The above research conclusions verify the effectiveness of industrial policy,help guide micro-enterprise entities to establish competitive advantages,and provide empirical evidence for the government to better serve the real economy and promote the development of China’s advanced manufacturing industry through industrial policy.