金融抑制对中国产业安全影响研究

The Impact of Financial Repression on China's Industrial Security

理论和实证两个层面就金融抑制对中国产业安全影响展开了全景式的研究,结果表明:我国金融管控措施日趋完善,对产业安全起到了正面的促进作用,我国产业安全日益改善;金融抑制的改善对企业融资约束的缓解具有一定的促进作用。但金融资源在政府金融抑制措施下优先满足第二产业的融资需求,对我国产业发展能力提升起到了一定程度的阻碍,金融抑制现象在我国仍起到主导作用;我国对外贸易主要集中于第二产业,且对外贸易产品附加值较低;人民币汇率的提升倒逼我国产业结构进行优化升级调整,优化产业生态。因此,应推进金融市场化改革,丰富投融资渠道,政策引导和市场推动双轮驱动,弱化金融抑制,通过金融资源的合理配置,加快科技研发创新,促进重点产业良性发展,推动产业结构优化转型,全面提升产业安全程度。

This paper conducts a panoramic study on the impact of financial repression on China’s industrial security from both theoretical and empirical perspectives. The study shows that China’s financial management and control measures are increasingly improved,which has played a positive role in promoting industrial security,and China’s industrial security is improving day by day. The improvement of financial repression can promote the mitigation of corporate financing constraints. However,under the measures of government’s financial repression,financial resources give priority to meeting the financing needs of the secondary industry,which has hindered the upgrading of China’s industrial development capacity to a certain extent, and financial repression still plays a leading role in China;China’s foreign trade is mainly concentrated in the secondary industry, with a low added value for foreign trade products;Higher RMB exchange rate forces China to optimize,upgrade and adjust industrial structure and industrial ecology. Therefore,we should promote the reform of financial market,enrich investment and financing channels,promote double-wheel drive by guide policy and market and weaken financial restraint,accelerate scientific and technological research and innovation through rational allocation of financial resources,promote the benign development of key industries,promote the optimization and transformation of industrial structure,and comprehensively enhance the industrial security.