Research on the Development of TechFin and the Economic Growth Effect of the Yangtze River Delta

The endogenous driving force of economic growth is the advancement of science and technology. The development of science and technology industry cannot be separated from the financial boost. The Yangtze River Delta region is trying to become a world-class urban agglomeration with high-quality and integrated development. It is gradually building a TechFin system which is called TechFin in China and the system is aimed to vigorously support the development of technology enterprises. This paper focuses on the financing of SMEs in science and technology area, sorts out the current situation of Techfin in cities in the Yangtze River Delta, and uses the basic financial function model and the Solow Growth model to analyse the indirect promotion of financial innovation to economic growth. The analysis shows that TechFin has promoted regional economic growth. Based on this point of view, this paper makes some suggestions on the coordinated development of TechFin System in the Yangtze River Delta.