East China University of Political Science and Law, Shanghai, China
In the process of promoting the reform of the market economy system, China's comprehensive strength has been improving very fast. All along, China has paid great attention to the adjustment and reform of the market economy, focusing on the current situation of economic development, and through the analysis and research of the development law to better improve its comprehensive competitive strength, so as to effectively meet the challenges of the times and achieve good and fast growth. The market and the government play a key role in the reform of the market economy management system. The government needs to take the initiative to focus on the spirit of the development of the times, strengthen macro-control and management, build perfect management rules and systems, and flexibly use economic and administrative means to promote the smooth development of economic activities. The market is an invisible hand, which can better compensate for the various deficiencies of government management. However, the frequent emergence of market failure makes the government start to readjust its working mode and management means, focusing on the realistic conditions of high-tech industry development, understanding the specific causes of industrial regulation, and then better realize the right remedy to truly achieve effective interaction between the market and the government, so as to create a good external space and environment for the positive and stable operation and development of the market.
Market failure; High-tech; Industrial regulation
Zhicheng Liang. Market Failure - The Origin of Government Regulation on High-tech Industry. Academic Journal of Business & Management (2022) Vol. 4, Issue 6: 74-78. https://doi.org/10.25236/AJBM.2022.040613.
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