(A) The inspiration given to us by the S&T investment mechanism of foreign developed countries
By studying the S&T investment mechanism of foreign developed countries, we summarize the following points of experience worth learning:
Figure 2-7 Distribution of R&D of various countries according to the type of research
1. Diversification of the main body of investment
Government investment is one of the main sources of S&T investment. government investment is one of the main sources of S&T investment, and government S&T investment of 1% of GDP has become the investment target of major developed countries. in 2003, the U.S. federal government's S&T investment hit an all-time high of 112.047 billion U.S. dollars, an increase of 8.6%, accounting for 5.2% of the government's total budget, which is equivalent to 1% of the GDP in the fiscal year of 2003 (Yangmei, 2008). Japan put forward the second science and technology basic plan in 2001: to ensure that the government's investment in science and technology accounted for 1% of GDP, and to strive for a total investment in research and development to reach 24 trillion yen over a period of five years (Chen Shao Hui, 2010).
Enterprises have gradually become the main investor of S&T investment. In developed countries such as the United States, Japan and other countries, enterprise investment is higher than the government investment of more than 10 percentage points (Yang Mei, 2008), enterprises in order to improve the core competitiveness, and constantly enhance the strength of scientific and technological investment in the research and development of new technologies and new products, the virtuous cycle of high investment and high return mechanism effectively stimulate the enthusiasm of the enterprise scientific and technological investment (Zhu Jian, Chai Yuping, 2006).
Because of the high risk of scientific and technological research and development, general banks have a lot of restrictions on the provision of loans. For this reason, many countries have adopted financial measures to raise funds such as providing government credit and credit guarantee, establishing specialized science and technology credit banks, and issuing high-tech bonds (Yang Mei, 2008). In addition, venture capital with its unique mode of operation and the effectiveness of risk avoidance came into being, for the social capital into the high-tech industry to build a bridge to promote the transformation of high-tech to real productivity. At present, there are about 1,000 venture capital firms in the U.S.***, and their funds are mainly invested in high-tech enterprises (Zhu Jian and Chai Yuping, 2006).
In addition, the scientific and technological inputs from universities, overseas investments, and personal investments are also extensive sources of scientific and technological inputs.
2. Strategizing the investment direction
Science and technology investment should be reasonably planned according to the development strategy of the country. industrial field.
In the three stages of basic research, applied research and experimental development, the basic research stage requires a large amount of scientific and technological investment support due to the higher risk as well as externalities. In addition, the special characteristics of basic research also require long-term scientific and technological investment as well as concentration, so as to better ensure the smooth progress of the project and the rational allocation of resources. Even countries like Japan and South Korea, which started with technology application and technology introduction, have begun to emphasize the importance of basic research and take independent innovation as an important weapon to compete for the future industrial heights (Chen Shaohui, 2010).
In terms of research fields, S&T investment should also have different focuses according to national strategies. 2001, in the S&T investment budget of the Japanese government, the investment in life sciences increased by 16.7%, and the investment in environmental sciences increased by 18.7%; the United States has successively listed the new materials, information technology, biotechnology, etc. as strategic technologies, and its superb and advanced investment has played an important role in supporting and leading the overall leadership of the U.S. in science and technology, and in the development of the economy. The United States has listed new materials, information technology, biotechnology and other strategic technologies, and its strong and advanced investment has played an important supporting and leading role in the overall leadership of science and technology and economic development of the United States; India has identified software technology as a strategic technology and the software industry as a strategic industry according to its own characteristics, and it has played a leading role in the development of the country's economy (Yang Mei, 2008); From the distribution of the governmental scientific and technological investment in the countries of the Organization for Economic Cooperation and Development (OECD), in the field of nondefense, the key focus of its financial support is health care and environmental protection, and the ratio of the governmental R&D investment in the two fields has increased year by year (Yang Mei, 2008). R&D investment has been increasing year by year (Chen Shaohui, 2010).
3. Focus on the transformation of results
In recent years, developed countries have not only attached great importance to scientific and technological investment to promote scientific and technological progress and development, but also attached great importance to the link between scientific and technological development and economic development, and emphasized the transformation and application of scientific and technological achievements. The development of science and technology promotes the development of the economy, and economic development is conducive to further increase the investment in science and technology, thus further promoting scientific and technological progress, to achieve a virtuous circle (Liao Tiantu, 2007).
4. Legislative guarantee
Developed countries focus on guaranteeing S&T investment through legislation. The U.S. Small Business Investment Act to help small businesses to obtain additional shareholder capital and long-term loan funds, the Small Business Innovation and Development Act, the Small Business Research and Development Act, the Federal Technology Transfer Act, and other legislation, have incentivized small and medium-sized R & D investment (Li Songtao et al., 2000). In the UK, the government has implemented the "Funding for Innovative Approaches Scheme", which provides tax incentives for R&D in science and technology through legislation such as the Enterprise Expansion Program Act. In France, the "Tax Incentive System for Investment in Technology Development" was formulated in 1983, which clearly stipulates that enterprises that increase their R&D investment compared to the previous year are exempted from paying 25% of the enterprise income tax on the amount of the investment; and the "Decree-Law on Special Investment Loans" was adopted in 1985, which requires the government to support SMEs' scientific and technological R&D with low-interest loans. Italy's Law on Fostering Innovation and Development of Small and Medium-sized Enterprises explicitly stipulates that any investment in innovation within the scope of the law is eligible for preferential treatment (Du Wei et al., 2004).
5. Policy Support
The government adopts policies such as fiscal, taxation, finance, and government procurement to rationally optimize the allocation of scientific and technological resources. For example, it implements tax incentives for venture capital and research and development, and levies less tax on high-tech industries. In addition, countries such as the United States provide for accelerated depreciation of fixed assets such as instruments and equipment used for research and development and scientific research buildings to exempt real estate and other taxes. South Korea's tax law also encourages the transfer of scientific and technological achievements, and income derived from the transfer or lease of patents, technologies or new processes can be exempted from income tax (Yang Mei, 2008). Some countries have also introduced special taxes on technology development to encourage enterprises to engage in technology research and development and use domestically produced technologies. For example, in 1986, the Indian government levied a tax of 5% of the cost of introducing foreign technology to the business community, and used this tax to establish a venture capital fund to promote and accelerate the development and application of domestically produced technology (Chen Shaohui, 2010).
(2) Problems of China's science and technology investment mechanism
By analyzing China's science and technology investment situation and comparing it with foreign developed countries, it can be found that China's science and technology investment mechanism still exists in the following problems:
1. Lack of a clear strategy
While China has determined the "science and education for a prosperous country" strategy, it does not have a clear strategy.
While China has established the strategy of "developing the country through science and education", there is no clear strategy for investment in science and technology, and there is no clear range of ratios for different scientific and technological inputs, different scientific and technological inputs, and types of research, etc., and major scientific and technological project inputs do not have a more defined channel in the national development plan (Jia Kang, 2006).
2. Weak intensity of S&T investment
In recent years, the total amount of R&D investment in China has been growing continuously, but there is still a big gap with other countries in the world, and in 2005, the total amount of R&D investment in China was only 9.57% of that of the U.S.A. (Liao Tiantu, 2008) The value of R&D/GDP symbolizes the intensity of a country's S&T input to economic development, and is a commonly used indicator for international comparison of the intensity of S&T input. R&D/GDP value symbolizes a country's S&T investment intensity in economic development, and is a commonly used indicator for international comparison of S&T investment intensity. The R&D/GDP value symbolizes the intensity of a country's investment in science and technology in economic development, and it is a commonly used indicator for international comparison of the intensity of investment in science and technology. The input intensity of economically developed countries is between 2% and 3% (Cheng Wenxin, Liu Min, 2007). Compared with developed countries, China's R & D intensity is still in a lower position.
3. Diversified input mechanism is imperfect
The vast majority of R & D funding from enterprises in developed countries, China's R & D funding in 2009, 71.7% from enterprises, and developed countries are basically comparable to the proportion of the government's R & D investment compared to the older developed countries in Europe and the United States is relatively low. In addition, China's other channels of funding sources accounted for only 4.8%, much lower than other countries. China's R & D funding channels are still relatively single, to be further expanded.
4. Insufficient investment in manpower
From the relative amount of developed countries, such as Japan, the United Kingdom, France, Germany, etc., the number of people engaged in R & D per 10,000 people in the labor force is basically between 100 to 120 people, China in 2009, only 40 people, not only lagging far behind these developed countries, and many developing countries compared with the gap is also very large.
5. Low proportion of investment in basic research
Basic research is the source of high-tech and economic development, but also a measure of a country's highest level of science and technology (Li Bo, 2009). China's basic research science and technology investment is insufficient, in 2009, the investment in basic research only accounted for 4.7% of the total investment, other countries this proportion is maintained at more than 15%, China's basic research field there is still a lot of room for development (Liao Tiantu, 2008).
6. Low transformation rate of scientific and technological output
Currently, the industrialization rate of China's scientific and technological achievements is only about 3%, and the transformation rate is also slow (Gao Sizhong, 2006), mainly because of the current self-contained system of China's research departments, the lack of overall planning, resulting in a lot of duplication of construction; the combination between the research department and the enterprise is not close to the science and technology and the economy is not linked, resulting in the separation of the results of research and development and the application of results. Separation of results research and development and results application, scientific research results can not enter the field of application, thus can not realize the economic value. In addition, scientific and technological investment in the use of the process of the implementation of the rough performance evaluation, accountability mechanism is weak.