The purpose of this paper is to make clear the negative effect mechanism yielded by the finance system with an extractive feature on innovation and economic growth.

From the launching of poverty alleviation program in old revolutionary base areas in 2008 to the end of 12th Five-Year Plan period, the Central Government's special lottery ticket public welfare fund has been disbursed to 22 provinces and 421 counties with a total of 5.535 billion yuan.

European Union started the process of European integration in the 1950s and since then EU countries began to build a European innovation policy system.

High interest has become an impediment to both the healthy development of non-government financial organizations such as small-loan companies, pawns and non-government capital management companies, as well as to the service efficiency provided to the real economy.

Emerging in regional finance reform in recent years, non-government capital management companies are new types of non-government financial organizations.

China's three oil giants are approaching transnational petroleum corporations in terms of both asset and income in recent years and their production and management efficiency has also witnessed some improvement.

Since the 1980s, the United States, Europe, Japan and some developing countries and regions have quickened their steps in opening oil market.

Provincial border areas have similar natural resources and development level.