Factors and tools for the development of high-tech industry

Recognizing the important role of high-tech industry in the economies of the leading countries in the world, various scientists identify different factors that determine the dynamics and nature of the development of industrial systems. In this regard, this study aims to systematize and comprehensively assess the factors of development of the high-tech industry in order to determine their impact on the high-tech industry in China, and on this basis, develop a set of tools to stimulate the high-tech sector of the economy. The research is based on the application of systemic and evolutionary approaches and is built on a balance of theoretical and practical analysis. The practical part of the study is to use a panel data tool to assess the factors of high-tech industry development in thirty-one provinces of China from 2011 to 2020. Using the Stata 16.0 software, a regression equation was built according to a fixed effect model, which made it possible to analyze the relationship between 11 variables and the resulting value of the high-tech industries production facility. Based on the result of the theoretical analysis, the factors of development of the high-tech industry were identified and 11 variables characterizing them were identified. Based on the assessment of these variables by the panel data tool, the factors that have the greatest impact on the development of China's industry were found. With this in mind, direct and indirect tools for the development of the high-tech sector of the economy of the specified country were identified. In the presented work, a linear regression analysis of the factors influencing the development of high-tech industries was carried out. Since the time series is ten years, it may not fully reflect the development of high-tech industries. Prospects for further research are related to the study of longer periods of time, as well as testing the proposed tools on the example of other economic systems.