Abstract:Science, technology and finance are the "two-wheel driving" factors in the development of independent innovation in China, so it is very important to clarify the influence mechanism of science and technology finance on science and technology innovation. On the basis of combing the present situation of science and technology finance business and science and technology innovation in Beijing banking industry, this paper adopts TVP-VAR model to study the linkage relationship between science and technology finance and science and technology innovation from a dynamic point of view. The results show that there are asymmetric characteristics between the two, and the long-term lag effect of science and technology finance on science and technology innovation; at the same time, the science and technology finance has a short-term positive response to the innovation of science and technology, but has obvious inhibition in the long-term. Therefore, in the new normal period of economic development, the Beijing Municipal Government should actively promote the development of science and technology finance, and promote the capitalization of scientific and technological achievements by improving financial efficiency, so as to drive the sustained and stable growth of scientific and technological innovation.