At present, research on the financial theory of the transformation of scientific and technological achievements mainly focuses on the problems existing in the process of promoting the transformation of scientific and technological achievements and the formulation of fiscal policies. Scholars gave their own opinions from the aspects of fiscal taxation, fiscal expenditure, and national procurement.
(1) Research status of fiscal taxation in promoting the transformation of scientific and technological achievements
Many scholars believe that my country’s preferential tax policies lack incentive mechanisms and are difficult to promote the transformation of scientific and technological achievements.
Liu Rongcang (2000) believes that my country's current corporate income tax preferential policies mostly provide tax exemptions and exemptions for income from scientific and technological achievements, but do not provide enough tax support for prior scientific research and development activities. As a result, high-tech enterprises that already have strong scientific and technological capabilities and units that generate income from results benefit, but there is a lack of appropriate tax incentives for those companies with outdated technologies that are in urgent need of updating and undergoing scientific research and development activities. Liu Haitao and Shao Bing (2006) also pointed out that my country's current preferential tax policies are mainly direct preferential treatment such as tax rate concessions and tax reductions and exemptions, and have no tax incentives for enterprises that have not yet formed or are in the process of technology development. In order to improve the effectiveness of tax incentives in promoting the transformation of scientific and technological achievements, attention should be paid to the use of direct preferential treatment and indirect preferential treatment, especially indirect preferential methods, such as accelerated depreciation of fixed assets used for scientific and technological research projects, accelerated depreciation of fixed assets used for scientific and technological research projects by enterprises, etc. The investment shall adopt the investment credit method and establish a scientific and technological research and development reserve system, etc. Tang Haiyan (2006) believes that my country's current preferential tax policies focus on granting certain tax exemptions and exemptions for profits gained by companies developing new products, and lack tax protection for companies that may fail due to risks. This undoubtedly reduces the enthusiasm of some enterprises, especially those with weak financial strength, for independent innovation. We should learn from the practices of innovative countries and adopt a tax-based preferential approach that focuses on the transfer of ex-post benefits.
Gu Guopei (2003) believes that the current "production-oriented" value-added tax system limits the transformation of scientific and technological achievements. Since the production-type value-added tax cannot be deducted from the input tax included in the fixed assets purchased by the enterprise, the phenomenon of double taxation has not been eliminated. The tax burden borne by the enterprise increases with the increase in the value of the fixed assets purchased by the enterprise. To a certain extent It dampens the enthusiasm of enterprises. It is recommended that the value-added tax can be gradually transitioned from the current "production-based" value-added tax to the "consumption-based" value-added tax, and tax paid on purchased fixed assets and machinery and equipment investments can be deducted.
Yang Chunmei and Yang Zhihong (2010) believe that my country's existing science and technology tax incentive policies focus on tax support for enterprise technological transformation and technology introduction, but do not provide enough support for the commercialization and industrialization of technological innovation results. It is recommended to formulate tax incentive policies for the industrialization and production stage of enterprise technological innovation. For example: expanding the scope of value-added tax deductions for equipment and increasing the value-added tax deductions for equipment purchased by small and medium-sized technology enterprises, implementing a zero tax rate for the export of technological innovation products, and forming innovative features after the introduction of major technological equipment is digested, absorbed and re-innovated. The corporate tax authorities of the product will refund the taxes paid during the import process, etc.
Song Fengxuan and Bian Weihong (2002) pointed out that the application of my country's tax policy has focused on regional preferences for many years, while weakening industrial tax preferences, resulting in industries of the same nature varying in different regions. The situation of different tax burdens is not only incompatible with the country's industrial policy and contrary to the principle of tax fairness, but also greatly limits and weakens the role of taxation methods in promoting national scientific and technological progress. In the long run, the scope and intensity of industrial tax preferential policies should be increased to achieve fair and efficient tax preferential policies. Yan Yixun, vice president of the Chinese Academy of Sciences, also pointed out that there are unfair phenomena in the taxation of my country's high-tech industries. The main manifestations are: tax rate differences between regions; tax rate differences between enterprises; tax officials have too much power and lack of restrictions. There are both policy and management reasons that lead to these phenomena, but ultimately it is the latter.
Luo Jing pointed out from the perspective of human capital investment that my country lacks preferential tax policies to encourage human capital investment (Luo Jing, 2002). Most of the beneficiaries of the preferential treatment are enterprises that apply high-tech achievements, while scientific and technological workers in scientific research units specializing in research and development are difficult to benefit from it. Liu Rongcang also pointed out that my country's current tax law has almost no preferential tax policies for high-tech talents, which are limited to "science and technology bonuses" and "special government subsidies" issued by governments at or above the provincial level. It is recommended to strengthen tax incentives for scientific and technological human capital by improving personal income tax, which is of great significance to promoting the investment of personal human capital in my country, improving the quality of workers, and transforming scientific and technological achievements (Liu Rongcang, 2000).
Liang Kai and Li Lianshui (2005) pointed out that my country’s statutory tax exemptions for corporate income tax are related to whether the enterprise is identified as a high-tech enterprise. As long as the enterprise is recognized as a high-tech enterprise and registered in a high-tech development zone, it can enjoy the corporate income tax preferential treatment of high-tech enterprises for life. If it cannot be recognized as a high-tech enterprise, it will not be able to enjoy this policy benefit, and it will be impossible to promote the transformation of scientific and technological achievements. There is a disconnect between this tax policy preference and the growth pattern of the development of high-tech products or projects, and the incentive effect of tax preference policies is weakened. It is recommended that tax support should adhere to the orientation of scientific and technological achievement products and projects, and tax incentives should not be given if those that do not meet the requirements.
(2) Current research status of fiscal expenditures promoting the transformation of scientific and technological achievements
Corresponding to national fiscal and taxation is the country’s public financial expenditures. Regarding how the country transforms scientific and technological achievements The main points of view for providing financial support are as follows.
Huo Bin (2004) believed that the transformation of scientific and technological achievements has strong external economic characteristics. However, due to limited transformation funds in our country, most scientific and technological achievements are idle, preventing potential productivity from being transformed into actual productivity and giving full play to the huge advantages of science and technology. Therefore, financial support for the transformation of scientific and technological achievements should be effectively increased. Mao Zhixiong also believes that the transformation and application of scientific and technological achievements, as a decisive link in the scientific and technological innovation process, requires more financial investment, but it cannot produce economic benefits in the initial stage, and there is a general lack of funds, so the government needs to provide start-up funds ( Mao Zhixiong, 2002).
Gao Guoshun (2003) believes that the government should not only effectively increase investment in the transformation of scientific and technological achievements in universities, but also particularly improve the efficiency of the use of investment funds. For scientific and technological achievements that have passed identification or obtained patents, scientific and technological experts and entrepreneurs must be organized to fully demonstrate the feasibility of their transformation, and funds must be concentrated to provide key support to projects with real market prospects and economic benefits.
Relevant research by the Ministry of Finance shows that my country’s science and technology investment structure is unreasonable. More funds are invested in the research and development stage, while less funds are invested in the pilot and industrialization stages, resulting in a large number of scientific and technological achievements that cannot reach the maximum level. conversion effect. Therefore, it is necessary to optimize the structure of science and technology investment. In terms of adjusting the structure of science and technology investment, firstly, scientifically and rationally adjust the funding structure and proportional relationship between scientific research, pilot testing and industrialization stages, and gradually increase the proportion of investment in the latter two stages; secondly, R&D funding should mainly be used for major projects. The research on key technologies of the project will be tilted towards research projects related to the national economy and people's livelihood, industry development and efforts to improve international competitiveness; third, in the pilot test funds, it will be used for pilot tests of major scientific and technological achievements as well as the introduction of industry key technologies and revolutionary technologies. The focus is on digestion, absorption, promotion and application; fourth, in the funding for the industrialization of scientific and technological achievements, the focus is on the transformation of major scientific and technological achievements and the construction of trading platforms. Liu Haitao and Shao Bing (2006) believe that in the theory and practice of modern public finance, the government's role is mainly to make up for market failures. Therefore, we should play an active role in areas where companies are unwilling or unable to invest. The government should transform from the existing functional structure that covers the field of scientific and technological research in all directions to a supply structure that focuses on ensuring basic research and public welfare scientific research, and focus the support of fiscal science and technology expenditures on improving the country's industrial competitiveness; in the field of industrial technology, The government should focus on supporting revolutionary scientific and technological research projects with greater social benefits, pre-competitive research and development that does not affect the fair competition of domestic enterprises, and strategic industries that help improve the country's overall strength and form competitiveness; and for the above fields Scientific research undertakings outside the country should be gradually promoted to society and provided by the market. Li Jiancheng (2008) also holds the same attitude towards this and believes that the national finance should provide continuous and stable scientific research projects and units engaged in basic research, pre-competitive strategic high-tech research, major public welfare research, and industrial leading technology research and development. Basic scientific research funding support enables it to properly deploy research forces and research directions, enhance its original innovation capabilities and levels, and accumulate preliminary research reserves for undertaking national strategic tasks.
Many experts and scholars have given their own suggestions on how national finance can promote the transformation of scientific and technological achievements.
Sun Jiahua (1986) believed that there are many steps to go through from the generation of scientific and technological achievements to the promotion, application, transfer and diffusion of the achievements. Due to the lack of investment in the promotion and application of scientific and technological achievements in our country, the utilization of scientific and technological achievements in the production sector has been reduced. The rate is quite low. It is recommended to establish a "Scientific and Technological Achievements Promotion and Application Fund" with financial investment. The fund will be used for a fee and is mainly used for the promotion and application of scientific and technological achievements with short development cycles and high economic benefits. At the same time, it is necessary to implement tracking investment in scientific and technological achievements to meet the funding needs of research, development, re-creation and other links.
Wang Gang and Huang Luhong (2011) believe that during the achievement transformation period, banks should give full play to the role of technology development loans, guide their investment in enterprise technological innovation, expand the source of enterprise funds, and support the late development and development of technological enterprises. Provide financial support during the maturity stage. This can effectively increase the quantity and speed of the transformation and industrialization of scientific and technological achievements, avoid the waste and potential loss of scientific and technological resources, and promote the formation of a virtuous cycle of "scientific research-production-benefit-funding-scientific research", thereby effectively improving the ability of independent scientific and technological innovation.
Xie Fuji and Wang Xudong (2008) believe that my country’s fiscal investment method for the transformation of scientific and technological achievements is single, and most of the funds are mainly gratuitous investment. They suggest that through “government purchase”, the promotion of venture capital, interest discounts, and paid use , give full play to the guiding role of fiscal policy and fund allocation through awards instead of subsidies, and establish a diversified and multi-channel science and technology investment system. Wang Yuan, executive vice president of the China Academy of Science and Technology Development Strategies, also pointed out that to solve the investment and financing problems in the transformation of scientific and technological achievements, it is necessary to maintain financial investment in science and technology while giving greater play to the leverage effect of financial investment and laying a solid foundation for the whole society. The role of scientific and technological support base, active innovation of financing products and development of various investment and financing institutions, promoting my country's venture capital companies to invest more in the front end, creating a good policy environment, allowing capital to look for technology, rather than technology looking for capital ( Danfeng, 2011).
(3) Other related research
Some scholars have put forward their views from the perspective of transfer payments and government procurement. The main points are as follows:
Du Jianfeng (2007) From the perspective of transfer payments, it is pointed out that my country’s science and technology funding allocations are mainly allocated by the central government. There is a large gap in the level of science and technology investment between regions. The central government should increase the intensity of transfer payments to local governments. On the one hand, it should standardize and strengthen special projects in science and technology and education. Transfer payments, on the other hand, reasonably emphasize the gap in technology and education in the factor method calculation of general transfer payments.
Zhou Bo (2004) believes from the perspective of government procurement that government procurement can strengthen the role of intermediary structures in the transformation of scientific and technological achievements. The operational idea is: the government science and technology department collects results with industrial prospects from the society; after evaluation, projects that are in line with the industrial direction of the region and promote industrial upgrading (including projects that are already part of the government science and technology plan) are included in the government procurement targets, and then , using a bidding system to open bids to social intermediaries, and the winning bidder will receive government funding for expenses in the project financing process. Du Jianfeng (2007) proposed that the government procurement market should be gradually opened up. While in line with international practices, government procurement should be used internally and externally to tilt towards my country's high-tech fields. The following three methods can be adopted: ① Direct overseas government procurement Products are restricted. ② Implement price preferential policies for domestic products and allow certain price differences. ③Trade compensation policy, which requires foreign suppliers that win the bid to transfer certain technologies or establish R&D centers domestically. Xie Fuji and Wang Xudong (2008) also pointed out that a government procurement system should be established to support independent technological innovation and urge purchasers to consciously purchase independently innovative products.