以耐心资本发展新质生产力:中西分野、二重属性与实践探索  

Developing New Productive Force with Patient Capital:Divergence between China and the West,Dual Attributes,and Practical Exploration

作　　者：贺城[1] 高鹤鹏 林鹏 HE Cheng;GAO Hepeng;LIN Peng(School of Economics,Liaoning University,Shenyang,110036;Economics Teaching and Research Department,Party School of the Central Committee of C.P.C(National Academy of Governance),Beijing,100091;School of Economics,Fujian Normal University,Fuzhou,350117)

机构地区：[1]辽宁大学经济学院 [2]中共中央党校(国家行政学院)经济学教研部 [3]福建师范大学经济学院

出　　处：《中国经济问题》2024年第6期29-42,共14页China Economic Studies

基　　金：国家社科基金重大项目(23&ZD070)。

摘　　要：耐心资本是推动新质生产力发展的重要动力,是带动各类先进生产要素实现创新性配置的重要纽带。与其他资本形态不同,在我国基本经济制度框架内运行的耐心资本具有长期性和稳健性的特征,这使其在保障科技创新、提高全要素生产率、推动产业深度转型升级方面发挥着不可或缺的作用。当前我国耐心资本在发展进程中仍面临着资本市场短期化倾向、各类资本长期投资意愿不足、“科技—产业—金融”循环体系存在堵点等问题。坚持问题导向,要促使耐心资本的持有者践行责任投资理念,通过发挥国有资本的引导作用、扩大多元化投资主体、优化适合长期投资的市场环境等举措,以壮大耐心资本为发展新质生产力提供长期稳健的资金支持。Patient capital is a significant driving force for the development of new productive force and a crucial link in facilitating innovative allocation of various advanced production factors.Unlike other forms of capital,patient capital operating within the framework of China's basic economic system is characterized by its long-term and robust nature,making it indispensable in safeguarding technological innovation,enhancing total factor productivity,and promoting in-depth industrial transformation and upgrading.Currently,patient capital faces challenges such as the short-term orientation of China's capital market,insufficient willingness among various types of capital for long-term investments,and bottlenecks in the"technology-industry-finance"circular system.To address these issues,it is essential to adopt a problem-oriented approach by encouraging holders of patient capital to adopt responsible investment principles and strengthening patient capital through measures such as leveraging the guiding role of state-owned capital,expanding diversified investment entities,and optimizing a market environment conducive to long-term investments.These efforts will provide long-term and stable financial support for the development of new productive force.

关 键 词：耐心资本 新质生产力 高质量发展 资本 

分 类 号：F27[经济管理—企业管理]