A Study Of Pudong New Area Financal Industry Cluster

In such an era that economy and finance are increasingly globalized, market-oriented and information-prioritized, the geographic conglomeration of financial institutions is becoming a trend. Financial institutions inside those are shaping up even closer linkage and cooperation. Clustered finance is one of the important indexed showing the competitiveness of a certain region and thus has been enjoying priority of government working as well as of academic research in the field of economic geography.Based on related researches home and abroad, this article lists and gives general introduction on the common theories on the clusters of financial sector, focuses on analyzing the motivating mechanism of financial clusters by establishing a motivation model, and this analysis is mirrored in two facets of region-based research and conglomeration-based approach. In addition, this article describes the strength and the network of the clusters of financial industry.In the practical research section, this article, on the basis of the evaluation on the development of Pudong's financial industry, makes analysis on the driving mechanism, the networking and other areas of financial clusters with the tools of economic statistics, financial indexes and questionnaires and by ways of combining theoretical statement with practical analysis and by integrating quantitative analysis with qualitative description. The major driving force of the cluster of Pudong's financial sector is originated from region-based factors such as industrial demands, governmental policy and infrastructure conditions. The clusters, per se, hasn't exerted an evident conglomerating impact yet. The connection of the internal network is comparatively not strong enough, and cooperation synergy has not been shaped up to upgrade the cluster. Those challenges that Pudong has to face for promoting its financial sector includes a less developed business environment, the lack of development space, the lack of face-to-face communication and the restriction of existing mechanisms. In general, the clustered development of Pudong's finance industry is still in its infancy stage, but to enjoy a promising future with its rapid growth.Following the texture respectively going through those parts of definition clarification, logical analysis, case study and summarization, this thesis is organizedby the following seven chapters.Chapter 1, Introduction, gives general information on the background of the research, territory, material evaluation, texture of thoughts and content of the research. This chapter intends to emphasize on the theoretical and practical significance of the research on Pudong's financial clusters. This chapter also explains the methods and thoughts adopted in this article in brief, combs out the framework and summarizes the innovative essence of this article.Chapter 2, Concerned Definitions, proposes definitions of financial industry and industrial clusters at the first place and then further elaborate on the essence and features of financial clusters on the basis of existing researches on financial clustering in China and other countries.Chapter 3, Theories and Practices of Financial Cluster, firstly introduces those existing researches on financial clusters home and abroad, on the basis of which, it elaborates on the economic features of the financial industry as well as the characteristics of financial clusters in terms of their motivation mechanism, networking cooperation and competitive edge. In its end, this chapter presents a detailed statement on the construction and development experience of the financial cluster in The City of London.Chapter 4, History and Reality of Pudong's Financial Industry, firstly elaborates on the background, history and present situation of financial industry in Pudong New Area. Secondly, via SWOT tools, it makes analysis on the environment, reality and overall competitiveness of Pudong's industrial industry. At last, this chapter describes the geographic layout of the financial sector in Pudong by the tools of Lorenz Curve and GINI Coefficient.Chapter 5, Motivation and Challenges of Pudong's Financial Cluster, on the basis of practices and theoretical analysis, addresses the driving forces that helps to form and develop the financial cluster in Pudong new area, which include the demand for industrial development, governmental planning, regional conglomeration, human resources and urban infrastructure development, and also identifies those challenges to hold back the progress of financial clusters, such as the increase of business cost during the process of the development of Pudong's financial cluster.Chapter 6, Networking inside Pudong's Financial Cluster, on the basis of first-hand information from surveys, makes analysis on the vertical and horizontal networks inside Pudong's financial clusters and find out that Pudong's financialcluster components got weak horizontal connections but strong vertical links, strong external connections, and this network has much local features.Chapter 7, Conclusions, summarizes the major conclusions and research results of this article.