Financial Structure Optimization In The Context Of High-quality Economic Development

Since the Reform and Opening up,China's economy has continued to grow at a high speed,and the level of per capita income has continued to increase.It is currently in the ranks of upper-middle income countries.With the rapid economic growth,the scale of the financial system is also expanding,the number of financial intermediaries,financial markets,and financial institutions is increasing,financial supervision is gradually established and improved,and the financial system is continuously improved,and a diversified financial structure system is gradually formed.However,since the beginning of the new era,China 's economic growth has gradually slowed down,and the structural contradictions accumulated over the course of rapid economic growth have gradually emerged.General Secretary Xi Jinping stated in the report of the 19 th National Congress of the Communist Party of China: “China's economy has shifted from a high-speed growth stage to a high-quality development stage”.Corresponding to the high-quality development of the economy,the financial system also needs high-quality development.It has shifted from scale expansion to structural optimization to better serve the real economy and meet the financial demand for high-quality economic development.For this reason,the current research on the optimization of financial structure is of great significance to the high-quality development of China's finance and economy.On the basis of fully drawing on the existing research results,this thesis theoretically expounds the relationship and mechanism of financial structure and high-quality economic development,builds a theoretical framework of the relationship and mechanism of the two,and use the development practice of our country to make an empirical test on the theoretical point of view.At last,policy suggestions for optimizing China's financial structure were put forward based on the current status of China's financial structure.The first chapter of the article is an introduction,which mainly introduces the topic selection background,research significance,research ideas and research methods.The chapter two firstly reviews relevant theories in the logical order of economic growth,economic development,and high-quality economic development.Based on this,it points out that high-quality economic development is in line with the new development concept and can achieve "three major changes" in development;Economic growth and economic development are the foundation of high-quality economic development,and high-quality economic development is an advanced stage of economic development.High-quality economic development requires high-quality financial development.The New Development Concept is mainly reflected in the financial system: First,the development of various venture capital and multi-level capital markets can develop economically and innovatively;Second,commercial finance and policy finance Coordinated development,coordinated development of open finance and domestic finance,and reasonable urbanrural or regional financial space layout;Third,develop green finance and increase financial support for industries such as environmental protection,energy conservation,and clean energy;Fourth,increase financial Opening efforts include the internationalization of RMB and the two-way opening of capital;Fifth,develop inclusive finance and promote shared economic development.The high-quality economic development is the development that realizes the "three major changes",and the optimization of the financial structure can promote the upgrading of industrial structure and economic innovation,and achieve quality and dynamic changes.The optimization of the financial system can improve the efficiency of financial resource allocation and achieve efficiency changes.In order to achieve high-quality economic development.The high-quality economic development is the development that can achieve“the Three Great Changes”,the optimization of financial structure can promote the upgrading of industrial structure and economic innovation,and achieve quality and dynamic changes.The optimization of the financial system can improve the efficiency of financial resource allocation and achieve efficiency changes In order to achieve high-quality economic development.The current theoretical research on financial structure and economic development can be summarized into the following three aspects: first,from the perspective of financial structure for industrial structure upgrade,discuss the relationship between financial structure and economic development,and try to find a dynamic and optimal financial structure,that is the theory of optimal financial structure;Second,from the perspective of the support and promotion of technological structure for technological innovation,the relationship and mechanism of financial structure and economic development are discussed;third,from the perspective of institutional economics,discusses the relationship between financial structure and economic development.Based on this,combining with the characteristics of the high-quality economy in the new era of China and the way to achieve it,this paper systematically constructs a theoretical framework of financial structure and economic development.It is believed that the financial structure can promote the high-quality development of China's economy in the following three aspects:(1)The optimization of the financial structure can promote the upgrading of China's industrial structure,change the mode of economic development,and achieve quality change;(2)The optimization of financial structure can promote scientific and technological innovation,promote the innovative development of the economy,and realize dynamic changes.At the same time,technological innovation also affects the financial structure optimization process through financial innovation,realizing a benign dynamic optimization process of technological innovation and financial structure optimization;(3)From the perspective of the financial system,the financial system can promote the optimization of the financial structure,thereby improving the efficiency of resource allocation by the financial system,and at the same time reducing the overall economic system costs and achieving efficiency changes.The third chapter of the article uses a combination of normative analysis,empirical analysis and historical analysis to demonstrate the relationship between financial structure,industrial structure and economic development.After defining the concepts of industrial structure,industrial structure upgrade,industrial structure rationalization,and advanced industrial structure,the internal mechanism of financial structure transformation was explored.The main contents include the decision and influencing factors of financial structure transformation,and the path of financial structure transformation.And the measurement standard of financial structure optimization;then the relationship and function mechanism of financial structure optimization,industrial structure upgrading and economic development are studied,and the theoretical viewpoint is verified and verified from the perspective of historical development.The third section constructs an index system of financial structure,industrial structure,and economic development,and then uses time series analysis to establish an econometric model.The data of China's financial structure,industrial structure,and economic development are used to empirically test the financial structure,industrial structure,and economy.The relationship and mechanism of development.The research results show that the optimization of the financial structure can promote the high-quality economic development by promoting the upgrading of the industrial structure,changing the mode of economic development,and realizing quality changes.Scientific and technological innovation is the first impetus for high-quality economic development.However,technological innovation also requires financial support from the financial system.The fourth chapter of this paper analyzes the relationship between financial structure,technological innovation and economic innovation development from the perspective of technological innovation.Firstly,the related definitions and characteristics of scientific and technological innovation are discussed,the characteristics of technological innovation's demand for funds and the financial supply channels for technological innovation are analyzed,and then the funding and supply map of technological innovation cycle is constructed.The second section mainly discusses the mechanism of technological innovation on the financial structure.This mechanism is mainly realized through financial innovation.The third section further discusses the mechanism of financial structure,scientific and technological innovation,and economic innovative development.The process can be described as: optimizing the financial structure to meet the needs of scientific and technological innovation ? smooth progress of scientific and technological innovation ? transformation of scientific and technological innovation achievements ? market promotion of innovative products ?Increased output or increased productivity when applied to the real economy ? Increased output ? Economic development;applied to the financial industry ? financial innovation ? emergence of new financial instruments or new financial institutions or new financial systems ? changes in the financial structure ? improvement in the efficiency of the financial industry ? financial development ? economic development.Because the motive force of this development process comes from scientific and technological innovation,it is called innovative economic development.Institutions play an extremely important role in economic activities,and finance is an important part of the economy.Institutions should also pay attention to its role and study it in depth.Chapter 5 first defines the relevant concepts and connotations of the financial system,including the composition and classification of the financial system,and the function and efficiency of the financial system.The second section is guided by the theory of new institutional economics and new institutional finance.It mainly discusses the financial system and financial structure from four aspects: financial transaction costs,financial property rights system,financial supervision system,and financial system changes.The analysis results suggest that the soundness and improvement of the financial system will promote the optimization of the financial structure.The third section uses the empirical data of China's financial development to build an evaluation index system of China's financial system on the basis of existing research,assign values to each indicator,and then calculate the index factor FI of China's financial system by principal component analysis.Then,The empirical test of the relationship between the financial system and the financial structure.The results show that the improvement and improvement of the financial system can promote the optimization of the financial structure.At the same time,the improvement and improvement of the financial system can also improve the efficiency of the financial system itself and the efficiency of resource allocation,achieve efficiency changes,and then promote economic development.The sixth chapter of the thesis elaborates the process of the change of China's financial system,and analyzes the status of China's financial structure in detail from four aspects: financial development level,financial institution structure,financial market structure and monetary policy structure,and compared with the US and Germany financial structure.In the end,we analyzed the problems existing in China's financial structure and their causes.Chapter ? puts forward policy suggestions for the optimization of China's financial structure from four aspects: the structure of financial institutions,the structure of financial markets,the financial system,and the framework of macro-control.Finally,the deficiencies in the research are pointed out,and the possible future development of the theory is envisaged and prospected.