Abstract: The article obtains two aspects of macroeconomic environment through the statistical data analysis of China's industrial enterprises, the theoretical hypothesis that the macro-economic development speed and the macro-economic policy stability influence the government subsidy policy on the enterprise survival and development is obtained, Then we use the survival analysis method to test the theoretical hypothesis. Theoretical and empirical studies show that government subsidies are more willing to be implemented in the period of low macroeconomic growth, but in the period of high macroeconomic growth, the promotion effect of government subsidies on the survival probability of enterprises is significantly higher than that in the period of low macroeconomic growth. Enterprises with unstable macroeconomic policies are more likely to receive government subsidies, In addition, in the period of macroeconomic policy instability, increasing the subsidy intensity of enterprises can more obviously promote the survival and development of enterprises than in the period of policy stability.

Key words: economic environment, government subsidies, enterprise development