Research On The Development Of Regional Financial Center In China

In view of the economic spatial structure of great nation, there is a superior regional characteristic in economic operation and development owing to the obvious unbalances of the distribution of economic resource, the level of economic development and the social division of labor in regions. Also, financial system, as an important component of national economy system, is bound to take on regional characteristics. In the process of financial development, financial resources including elements driven by it, aggregating into the economic central city, which is promoted to be upgraded and forms a regional financial centre (RFC). On the other hand, RFC plays a positive organizational role in regional financial activities, optimizing the allocation of financial resource, proceeding to promote regional economic growth and then generating a virtuous cycle based on the coexistence and mutual growth of both economic growth and financial development. In consideration of the importance of regional financial centre, an upsurge of setting off regional financial centers is sweeping in the majority of cities in domestic country, which has causes some problems seriously influencing a healthy development of China's regional financial center. Therefore, the study relating to the development of regional financial centers is of great significance.According to the basic theory of financial development, Regional financial development and Regional financial center, this dissertation analyzes the status and existing problems of regional financial center development of China in foundation of drawing advanced experiences from international financial center. Then the dissertation designs the development trail of China's RFC combining the reality of unbalanced regional development. Finally, the dissertation expounds the safeguard measures of RFC development from three aspects—implementation of region finance policy, region finance risk control and regional financial ecoenvironment optimization.The framework of the dissertation is as follows:Chapter 1: General Introduction. This chapter firstly presents the research background, the purpose and significance of the dissertation, and then briefly summarizes and evaluates the dynamics of domestic and international research on the study of ideas. Finally, the chapter puts forward the methods and possible innovations. Chapter 2: Basic Theory of the Development of Regional Financial Center. This chapter is the foundation of follow-up research of the dissertation. In addition to presenting a detailed expatiation of the theory of financial development and regional finance, this chapter focuses mostly on the theory of RFC, defines fundamental conception and meaning, and sums up six primary functions of RFC, known as aggregation function, radiation function, supervision and management function, financial innovation function, structural adjustment function and information processing function.Chapter 3: On the Reference from the Development of International Financial Center. After defining the conception, expounding the connotation and the symbol of international financial center, this chapter introduces the development of international financial centers by taking four international financial centers—London, Now York, Singapore and Hong Kong—as examples. On this basis, the dissertation concludes the enlightenment of international financial center development on RFC development of China emphasizing in term of the pattern, the general process, the condition of RFC development and so on.Chapter 4: Analysis and Pathway Design on Current Development of Regional Financial Center in China. This chapter firstly analyzes the status of regional financial centers development in China, presenting a formation of competitive situation among cities on RFC development. Moreover, the dissertation uses the fundamental principles and methods of Game Theory to analyze the deep administrative structure reasons for the competitive status of regional financial center development. And then, after discussing both possibility and necessity of developing several regional financial centers in China, the dissertation designs the pathway for developing RFC, including the establishment of general viewpoints on RFC and the selections of development patterns for different regions.Chapter 5: Safeguards MeasuresⅠfor the Development of Regional Financial Center—Regional Financial Policy Implementation. Establishing and developing regional financial center in China demands a series safeguards measures, the implementation of regional financial policies for one. On the basis of defining the concept of regional financial policy and analyzing the relationship with regional economic policy and general financial policy, this chapter sets up the general and concrete objectives of regional financial policy. Then, the chapter develops a detailed demonstration on the necessity of carrying out regional financial policy in terms of promoting executive effect of financial policy, improving the capacity of macroeconomic control, deepening the reform of financial system, and providing safeguards for regional economic development. After specifying the general train of thought about the structure of regional financial policy system, the chapter recommends building such a system including regional financial-structure policies, regional monetary policies, regional financial-supervised policies, and some other regional financial policies.Chapter 6: Safeguards MeasuresⅡfor the Development of Regional Financial Center—Risk Control of Regional Finance. This chapter discusses in detail another important safeguard measure for regional financial center—risk control of regional finance. The causes resulting in regional financial risk are from both financial field itself and other fields out of it. By analyzing these causes, this chapter finally advances the concrete countermeasures to control the risks.Chapter 7: Safeguards MeasuresⅢfor the Development of Regional Financial Center—Ecoenvironmental Optimization for Regional Finance (EORF). Comparing the similarities between financial system and ecosystem, this chapter expounds the connotation of regional financial ecoenvironment, and establishes its framework through an ecological perspective. Afterward, the dissertation addresses the value of EORF and finally presents optimization measures for EORF.