The Empirical Study On Securities Markets Development And Industrial Structure Of Yangtze Delta

Three decades of reform and opening up, China's economy has made great progress, people's living standards improved, and comprehensive national power developed. Industry competition is the economic strength of competition among countries. Overall competitiveness of a country depends on the strength of the international competitiveness of industries. China has been into the WTO almost 10 years, China's industrial structure optimization and upgrading go into a new stage, China's industrial structure optimization and upgrading of the pressure from both domestic and abroad, which requires China's industrial structure upgrade mode must be closed to the open system changes.Yangtze River Delta, as the focus of economic development in China, is playing an important role in economic development. After 20 years of development, Yangtze River Delta regional economic development has formed a solid foundation, and showing continued strong growth trend, while the Yangtze River Delta region continue to optimize and upgrade industrial structure, industry, the booming economy, showing a secondary and tertiary industries jointly promote the characteristics of regional economic development. However, at this stage in the Yangtze River Delta, there are still many problems and shortcomings, such as the agricultural foundation is still weak, slow income growth of farmers, the internal structure of the tertiary industry is unreasonable, the problem of insufficient infrastructure development is still quite prominent.Securities market is a modern market economy the main way of resources and means it as an investment benchmark, to raise funds, capital pricing, capital allocation, risk diversification and other functions, in the market at the core of the economy. Securities market is currently booming Yangtze River Delta. As of August 2010, the Yangtze River Delta in Shanghai and Shenzhen A shares of a total of 467, the A share market in 1896 accounted for 25%; end of 2009 the Yangtze River Delta A shares in Shanghai and Shenzhen A shares of the total market value of the total market value of 19.5%. In this paper, on the basis of the theory of Chinese and foreign scholars of the stock market and industrial restructuring. Firstly function of the stock market starting from the Yangtze River Delta, Yangtze River Delta stock market analysis on the industrial structure adjustment mechanism. Secondly, with the Yangtze River Delta in the current situation of industrial structure and stock market based on the analysis, this paper from the stock market on the role of upgrading the industrial structure in China, the Yangtze River Delta stock market adjustment on the role of the three major industries within the industry and the role of the industry adjustment three starting from the empirical point of view of the stock market on the Yangtze River Delta, the specific impact of industrial restructuring, the conclusion is:the Yangtze River Delta to upgrade the industrial structure on the overall stock market have some role in promoting. However, obtained by co-integration test of the Yangtze River Delta Stock Market and industry structure does not exist co-integration, the two do not have a long-term relationship, proof of the Yangtze River Delta in the function of stock market distortions and can not be a good role in the Yangtze River Delta upgrade the industrial structure. Yangtze River Delta stock for the better play the role of industrial structure adjustment, the paper concludes with a perfect China's securities markets, and industry to the growth of benign combination of industrial restructuring and coordinate the development of some policy recommendations.