现有研究对于政府对制造业补贴能否提高制造业绩效存有争议。通过理论分析认为，研发投入是提高制造业绩效的有效途径，而且相比于一般制造业研发投入对高技术产业的绩效提高效果更为明显。同时研发投入需要大量资金，如果一味增加研发投入，可能挤占其他部门资金。因此，政府补贴能够通过提高企业的研发投入促进企业绩效提升，而且对于高技术产业企业绩效提升的正面影响要大于对一般制造业；并通过A股上市企业的数据进行实证研究，证明以上研究结论。这意味着政府应该对企业进行补贴，而且应该重点补贴高技术产业。

Abstract: The existing research is controversial about whether government subsidies can improve manufacturing performance. According to the theoretical analysis, R & D investment is an effective way to improve the performance of manufacturing industry, and compared with the general manufacturing R & D investment, the effect of improving the performance of high-tech industry is more obvious. At the same time, R & D investment needs a lot of funds. If we increase R & D investment blindly, we may squeeze other departments' funds. Therefore, government subsidies can promote the performance of enterprises by increasing the R & D investment of enterprises, and the positive impact on the performance of high-tech industry enterprises is greater than that on the general manufacturing industry; and through the data of A-share listed enterprises, empirical research proves the above conclusion. This means that the government should subsidize enterprises, and should focus on high-tech industries.

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