Research On The Impact Of Technology Finance On The Upgrading Of Regional Industrial Structure

Under the new economic normal,China’s economic development model urgently needs transformation.The development of technology finance guided by the upgrading of industrial structure is the key work of regional economic development.Technology finance mainly provides various financial support for high-tech enterprises,and high-tech industry also plays a major role in the upgrading of industrial structure.However,at present,Few people have studied the path that technology finance affects the optimization of regional industrial structure.Therefore,This paper discusses the direct impact of technological finance on the upgrading of industrial structure,and whether high-tech industries play an intermediary role.Firstly,this paper analyzes the relationship between technology finance,high-tech industry and regional industrial structure upgrading from the theoretical level.Secondly,this paper selects the data of 30 provinces and cities in China from 2010 to 2019 and uses entropy method and intermediary effect model to explore the impact of technology finance on the rationalization process and upgrading process in the upgrading of regional industrial structure from the empirical level,as well as whether high-tech industries provide an intermediary role.Finally,this paper compares and analyzes the results from three regional levels.There are four research results in this paper:(1)from the view of the development of technology finance,China’s technology finance presents the characteristics of stepped development.The order of the development degree of technology finance in each region is from high to low: east,middle and west.(2)The rationalization degree of industrial structure in most regions of China is low,but the advanced degree of industrial structure is high,indicating that the nature of economic service industry in most provinces is high.(3)From a national perspective,the development of technology finance can promote the rationalization and upgrading of industrial structure.Technology finance can only affect the advanced process of industrial structure upgrading by affecting the development of high-tech industry.(4)From a subregional perspective,first of all,only the technology finance in the east and west regions has played a positive role in the rational adjustment of the local industrial structure.Technological finance in eastern and central China can promote the advanced process in the upgrading of local industrial structure.Secondly,it is found that the development of high-tech industry in the East,central and western regions does not play an intermediary role in the process of technology finance affecting the rationalization of industrial structure.Only the development of high-tech industries in the eastern and central regions plays an intermediary role in the process of technology finance affecting the advanced industrial structure.According to the research of this paper,this paper puts forward relevant policy suggestions:(1)strengthen the integration of regional science,technology and finance;(2)Adopt different policies for the development of science and technology finance according to different local advantages;(3)Give play to the leading role of regions and make full use of resources and policies;(4)Establish an efficient independent innovation system to promote the development of high-tech industries.