Close-Clean Government-Business Relations Empowering Investment and Financing of Specialized, Refined, Distinctive & Innovative Enterprises: Mechanisms and Optimization Paths

Xiaoman Chen; Yuwei Liu; Jiali Weng; Yan Jiang

doi:10.6981/FEM.202608_7(8).0013

Authors

Xiaoman Chen Business School, Chengdu University, Chengdu, Sichuan 610106, China
Yuwei Liu Business School, Chengdu University, Chengdu, Sichuan 610106, China
Jiali Weng Business School, Chengdu University, Chengdu, Sichuan 610106, China
Yan Jiang Business School, Chengdu University, Chengdu, Sichuan 610106, China

DOI:

https://doi.org/10.6981/FEM.202608_7(8).0013

Keywords:

Close and Harmonious Relationship between Government and Business; Specialized, Innovative and Distinctive Enterprises; Financing Constraints; Investment and Financing Behaviors.

Abstract

Under the background of cultivating new types of productive forces, specialized, innovative, and high-tech enterprises serve as the micro-support for the modern industrial system. However, due to the long investment cycle of scientific and technological innovation and the high proportion of intangible assets, these enterprises often face practical challenges such as financing constraints, imbalanced investment structure, and mismatch between investment and financing terms. This paper adopts literature research and normative analysis methods to systematically review the existing literature on the relationship between government and business and the financing of specialized, innovative, and high-tech enterprises. It distinguishes the differentiated functional logic of the "close" service dimension and the "clean" supervision dimension, and analyzes the current shortcomings of the government-enterprise governance system in alleviating the financing problems of scientific and technological enterprises. The research finds that "close" mainly alleviates enterprise financing constraints through information communication, policy resource supply, and government-bank-enterprise collaboration; "clean" mainly improves long-term investment by reducing rent-seeking, ensuring fair resource allocation, and stabilizing policy expectations. Based on the research conclusions, it proposes adaptive optimization measures from the aspects of government services, financial supply, and enterprise compliance operations, providing a reference for local areas to smooth out the financing bottlenecks of specialized, innovative, and high-tech enterprises by relying on the new type of government-enterprise interaction system.

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