Research On Financial Support To Northern Shaanxi Resource-Rich Region's Economic Development

With the speeding up of the world economic integration process, problems of the energy shortage and the related economic sustainable development around the world have increasingly been paid great attention to by the theoretical circles and government departments. On the one hand, the resource strategic status in the economic development substantially increases along with the continuous and rapid economic growth and social status improvement in the resource-rich areas and countries; On the other hand, with the depletion of resources, areas rich in traditional resources have met with many social contradictions and problems. Areas rich in new resources have developed rapidly, and meanwhile, environmental protection and ecological issues have attracted a wide range of concerns. Under such circumstances, economic development in transition in those areas has faced great challenges. Therefore, economic development in the resource-rich areas has become an important question for discussion. As China's important energy and chemical industry base, the northern areas of Shaanxi Province are abundant in natural resources such as coal, oil, natural gas and so on. The resource-rich areas in northern Shaanxi Province have witnessed a sustained and rapid economic growth in recent years driven by the rapid growth of the resource-based industries. So, the resource-rich areas in northern Shaanxi Province have promoted the economic growth of Shaanxi Province and the government of Shaanxi Province has clearly put forward a wide-span development strategy for the northern areas of Shaanxi Province. Under the condition of increasing energy shortage, how to accelerate the sustainable economic development in the resource-rich areas of northern Shaanxi Province is of great theoretical and practical significance.Finance is the first and sustained impetus for the economic development. How effective does the financial industry support regional economic development in the northern areas of Shaanxi Province? What problems and difficulties is the financial industry currently facing during the process of supporting regional economic development? And how does the financial industry change concepts or ideas to more effectively promote the sustained and healthy and rapid economic growth? This paper makes an initial discussion and research around above-mentioned contents.The paper includes 9 chapters:Chapter 1, Introduction. This chapter introduces the research background, purpose and significance. It summarizes the current related research states home and abroad in brief, puts forward research ideas, main research methods and framework, and the innovation.Chapter 2, The Theoretical Analysis of Economic Development and Financial Support in The Resource-rich Areas. This chapter defines the theories and concepts related to resources, analyzes the ingenerate rules of the economic development in resource-rich areas on the basis of theories, and makes a model analysis on the relationship between financial support and economic development, which all provide theoretical bases for the future research.Chapter 3, The History and Current Situation of Economic and Financial Development in The Resource-rich Areas of Northern Shaanxi Province. This chapter introduces the history and current situation of economic and financial development in the resource-rich areas of northern Shaanxi Province, analyzes the major characteristics and laws of the economic development as well as the features and current situation of financial industry development in those areas, which provide practical bases for the further analysis.Chapter 4, The Problems and Difficulties Existing in Financial Support for Economic Development in Resource-rich Areas of Northern Shaanxi Province. The paper considers that in the economic and financial development in the resource-rich areas of northern Shaanxi Province there exist four problems such as the industry and financial lock, financial repression, weak competitiveness of local financial institutions, and poor financial ecological environment.Chapter 5, The Empirical Analysis on Financial Support and Economic Development in Resource-rich Areas of Northern Shaanxi Province. This chapter studies the relationship between the financial support and the economic development in the resource-rich areas of northern Shaanxi Province using the methods like the comparative analysis, correlative analysis and regressive analysis. And it studies the efficiency of the financial support in the resource-rich areas of northern Shaanxi Province from the point of the regional economic development. The study shows that finance really supports the economic development of the northern areas of Shaanxi Province. But compared with the national level, the function of the financial industry in the northern areas of Shaanxi Province is relatively weak, and the performance of the financial institutions in the economic development needs to be improved. The deposits balance of financial institutions in the resource-rich areas of northern Shaanxi Province has a long-term effect on the regional economic development, but financial institutions do not play a full role regarding the credit orientation and support for the economic development in the aspects of credit policy and credit investment orientation.Chapter 6, Analysis of The Financial Support and Industrial Development in Resource-rich Areas of Northern Shaanxi Province. From the regional industrial development point, this chapter analyzes the situation and the problems and causes of the financial support for major industries in the resource-rich areas of northern Shaanxi Province.Chapter 7, The experiences home and abroad. From the aspects of supporting and nurturing SMEs growth, supporting the development of rural economy, promoting economic restructuring of resource-rich areas, this chapter introduces the experiences of the United States, Japan. Germany, France, India and other countries. This chapter also introduces the experiences of Ordos city and Ningxia autonomous region from taking the road of diversified development, playing the role of listed companies, supporting the development of the micro loan companies. All the experiences provide a reference for the following parts of the paper.Chapter 8, The Measures and Strategies of Financial Support for The Economic Development in Resource-rich Areas of Northern Shaanxi Province. To promote the economic development in the resource-rich areas of northern Shaanxi Province, the paper puts forward the following measures and strategies: palying a full role of the various financial institutions supported and led by the local government; developing direct financing in great efforts; exploring the ways of using such financial instruments as insurance industry, trust business, and leasing industry; encouraging financial innovation and making good use of informal financing; optimizing the financial ecological environment; eliminating the impacts and constraints imposed by industry and financial lock, financial repression, weak competitiveness of local financial institutions, and poor financial ecological environment.Chapter 9, The External Environment Optimization of Financial Support for The Economic Development in Resource-rich Areas of Northern Shaanxi Province. The paper thinks that a sound external environment should be created to improve the effect of the financial support, that is to say, to raise the threshold of resource-based industries, to reduce the dependence of the economic development on the resource-based industries, to greatly develop the non- resource-based industries, and to take the road of diversified development; to extend the industrial chain centered around the leading industries and establish the manufacturing industry clusters supporting the resources industry; to develop the local private economy and actively cultivate and strengthen the capacity of independent growth of local economy; to increase the investment in science and technology and education and lay a solid intellectual foundation for the sustainable development; to raise urban and rural people's income levels and promote the modern service industry development; to perfect the reform of taxation system and step out of "the fertile poverty" as soon as possible; to strengthen the scientific development and protect ecological environment; to accelerate the pace of economic integration between the two cities in northern Shaanxi Province, properly deal with the cooperation and competition between the two cities and promote the coordinated development of the regional economy.