| At present,socialism with Chinese characteristics has entered a new era,and the report of the 20 th Party Congress points out that we should build a modern industrial system,adhere to the focus of economic development on the real economy,promote a new type of industrialization,and accelerate the construction of a strong manufacturing country.This ambitious goal has pointed out the direction for the development of manufacturing industry,and at the same time has put forward higher requirements for the transformation and upgrading of manufacturing industry.Since the reform and opening up,China’s manufacturing industry has made great progress,not only the scale is in the leading position in the world,but also the only country in the world with a complete industrial chain.However,the current development of manufacturing industry still faces the problem of insufficient power and capacity of independent innovation,"big but not strong",and is in urgent need of transformation and upgrading.With the deepening integration of technology and manufacturing value chain,among the many factors influencing the transformation and upgrading of manufacturing industry,financial expenditure on science and technology has entered the research field.Fiscal expenditure on science and technology is a financial tool used by the government to provide public goods and services,optimize resource allocation and support the development of science and technology industries.However,at the same time,it should be noted that China is currently facing a slowdown in the growth of fiscal revenue,and fiscal "tight balance" has become the norm.Under the background of the intensified contradiction between income and expenditure,how to promote the transformation and upgrading of manufacturing industry in a more sustainable and practical way is a realistic problem we must face,and it is important and urgent to explore the policy response to promote the transformation and upgrading of manufacturing industry from the perspective of the efficiency of fiscal science and technology expenditure.In view of this,this paper firstly compares and compares the literature on the efficiency of fiscal science and technology expenditure and manufacturing transformation and upgrading at home and abroad,and explores the possible innovation points;then defines the relevant concepts and analyzes the theoretical basis,and on this basis explores the influence mechanism of fiscal science and technology expenditure efficiency on manufacturing transformation and upgrading;then explores the current situation of fiscal science and technology expenditure and manufacturing transformation and upgrading from the perspective of reality,and Next,from the perspective of empirical evidence,29 provinces and autonomous regions are selected as research objects from 2011 to 2020 to verify the relationship between fiscal science and technology expenditure efficiency and manufacturing transformation and upgrading,and to test the mechanism;finally,relevant policy suggestions are proposed to improve the efficiency of fiscal science and technology expenditure and promote manufacturing transformation and upgrading in China.It is found that there are problems that the scale of fiscal science and technology expenditure is insufficient and the project structure is unreasonable;the efficiency of fiscal science and technology expenditure needs to be improved and the scale efficiency is low;the output level of fiscal science and technology funds and the role of supporting the transformation and upgrading of manufacturing industry need to be further exerted in China.The empirical analysis also proves that the efficiency of China’s financial science and technology expenditure has a significant role in promoting the transformation and upgrading of manufacturing industry,and will promote the transformation and upgrading of manufacturing industry by enhancing the degree of talent concentration,capital concentration and technology concentration.In order to solve the current problems,the efficiency of fiscal science and technology expenditure should be improved by improving the efficiency of the utilization of fiscal science and technology funds and the output effect of fiscal science and technology funds;at the same time,the finance should focus on improving the independent innovation capability of manufacturing industry and maximizing the promotion effect brought by the concentration of innovation factors. |
