Research On Financial Support Of Strategic Emerging Industries In Jiangsu Province

Endogenic growth theory has long revealed that science and technology is an important factor to promote sustainable and efficient economic growth.However,the current development of science and technology has encountered bottlenecks,the global economic growth has fallen into weakness,and some countries have even experienced economic retrogression.China has also entered a new normal stage of slowing economic growth.The strong driving forces of China’s long-term rapid economic growth,such as the reform and opening up policy,huge demographic dividend and foreign advanced technology,are now gradually weakening.Therefore,both at home and abroad,in order to achieve sustained and efficient economic growth as soon as possible,they have formulated new policies to focus on high and sophisticated industries in order to promote rapid and efficient economic development through breakthroughs in high and new technologies.In the report on the work of the government in 2020,the CPC Central Committee clearly pointed out to increase the support for strategic emerging industries,in order to improve the national strategic position and enhance international competitiveness.In order to actively respond to the call of the CPC Central Committee and the State Council and support the development of emerging industries in Jiangsu Province,Jiangsu Provincial Government has issued a number of policies to escort the development of strategic emerging industries.The development of strategic emerging industries not only need to come from outside the industry long-term and stable financial support,namely financing mechanism,but also need to be within the industry with the efficient use of resources mechanism of efficiency of the financial support mechanism,internal and external mechanism of linkage operation not only needed capital strategic emerging industry development needs,but also ensure the efficient operation of capital,to some extent avoid the waste of resources.That is to say,the strategic emerging industry should form development,promote the virtuous circle,not only to “blood transfusion” to“blood”,is to be able to pass the financial markets for dong business need money,also will be funded by money for efficient operation resulting in higher profits,and attract more capital in the capital market to enter,steadily promoting their growth.According to the classification of national strategic emerging industries,this paper determines the seven fields covered by it,and studies the role of financial support in the development process of strategic emerging industries in Jiangsu Province.The review of domestic and foreign literature is helpful to understand the research status of financial support for strategic emerging industries.By analyzing the current situation of its development,it points out the problems existing in the current financial system.In the part of empirical analysis,the internal mechanism of industrial enterprises is studied by using the data envelopment analysis(DEA)model to analyze the utilization efficiency of the funds financed by strategic emerging industries in Jiangsu Province,and the external mechanism is studied by using factor analysis method to study the situation of the capital obtained by emerging industries in the financial market.Finally,according to the empirical results,the energy conservation and environmental protection industry is good in both financing and capital use efficiency,and is expected to develop into the pillar industry of Jiangsu Province,while the new energy industry is slightly insufficient in financing and capital use efficiency,and the rest of the industry is good as a whole.Therefore,in order to promote the development of strategic emerging industries in Jiangsu Province.We should broaden the financing channels and reduce the financing standards,and strengthen the supervision of financial market in the use of capital efficiency.