The development of strategic emerging industries are facing financial problemson January 7th, 2012 at 2:04 AM
The development of strategic emerging industries need large-scale, long-term funding support. From the” strategic” point of view, strategic emerging industry involves an area wide, and mostly is beneficial to the people’s livelihood, is not limited amount of funds to support it; from the” new” point of view, strategic emerging industry is far from mature, from investment to the effective time span is big, in the technology development, the respect such as industrialization exists various uncertainty, need to be repeatedly innovation, need long-term capital investment. Therefore, capital is the development of strategic emerging industry that needs to give priority to a problem.(led tube)
1, sources of funds
As a result of the strategic emerging industry is directly related to the overall economic and social development and national security, to driving economy social progress, enhance the comprehensive national strength plays an important role in promoting, must receive financial support from the government, this is without a doubt, but also its strategic significance. However, as a developing country, China’s financial strength is not strong, facing the complex and changeable situation at home and abroad, especially in recent years the continuous earthquake, drought, floods and other natural disasters, resulting in a serious loss of life and property, our country needs to invest capital area too much. To co-ordinate the use of funds, for the development of strategic emerging industries, the government finance investment can only play the role of guiding capital, could not monopolize the whole process of industrial development.(led tube)
Therefore, to develop emerging industries of strategic importance in government financial funds on the basis of social capital, leverage, in particular to the introduction of risk capital. In fact, this approach is feasible, because capital has profit natural attributes, the government to take effective measures to massive speculative funds forced out of the market, stock market, with the strategic emerging industry is gradually rising, it is possible to attract these liquidity.
In this situation, our country needs to build much channel capital throws a mechanism, in order to achieve the strategic emerging industry development funding needs, promote the rapid development of the industry. First of all, should appear personally by the government, increase financial support for emerging industries of strategic importance, to arrange the central financial capital and leading the local finance capital, ensure the government investment to be rapid, steady growth, to play the investment of the government on social demonstration effect.
Secondly, we should use market mechanism to raise funds for development, to encourage and guide the bank credit to the strategic emerging industry tilt, there are differences in the implementation of the interest rate policy; to actively industrial investment fund and venture capital fund, encourage small business set debt; to set up the risk investment system, leading at home and abroad including venture capital funds and private equity funds all kinds of social forces to enter strategical burgeoning industry; to establish and perfect the system of investment and financing, encourages relevant enterprises listing and financing.
Third, to play the enterprise funds to emerging industries of strategic investment. The our country can draw lessons from to the United States of america. In the past few decades, the United States used for scientific research and development investment fund sources have been rapidly transferred to the private sector, according to the White House Office of science and technology policy, various folk groups in scientific research investment has accounted for 2/3 of the total investment. Obama after taking office, has also taken a series of measures, such as the establishment of civil space program, establishing joint enterprises explore of clean coal technology business model, encourage private investment in broadband service field, intended to promote the civil participation in science and technology development and utilization.
2, the use of funds
In finance, then needs to solve is the fund utilization. Total funds are limited, therefore it is necessary to use the blade, to eliminate waste. According to different sources of funds, need to take the characteristics of the fund utilization plan.
The government funds, should be used mainly in basic research, technology research and general research. Basic theory and basic techniques are very important, but do not produce economic benefits directly, there are very few companies encroach on the field; key technology strategy is of great significance, must be licensed by the state to control, otherwise easy to be controlled by hostile forces, plus the key technology is easy to break, the enterprise will be difficult to achieve in general; common technology extensive demand, also from public funds for investment, after the success of research and development and large scale promotion, can avoid duplication of investment. Therefore, these three areas should be dominated by government public funds as a whole, to provide funding.
On social capital, should be used mainly in the aspect of application research. As a result of the social capital has the obvious profit, be placed in the industrialization, to the greatest extent possible to mobilize the enthusiasm of this part of the funds, attract social capital everfount into emerging industries of strategic importance, the formation of the capital of benign loop.