The Study Of Financial Industry Agglomeration In Shenzhen

There are many important financial innovations in Shenzhen, which is the forefront ofthe China’s reform and opening up, such as the Chinese first stock exchange, the firstsecurities company, the first venture capital test, etc. The position of Shenzhen in ourcountry’s strategic has been great. Once it competed with Shanghai for the country’s financialcenter. Later Shanghai won, and it was positioned to build the international financial center.And the Tianjin Binhai New Area has been developing rapidly. A number of financial sectorreforms are transferred to both of them. Today the position of Shenzhen in financial industryis the regional financial center in our country. So does Guangzhou. Both of them aresupporting Hong Kong as the international financial center. The position of Shenzhen hasbeen descending absolutely. This paper is trying to find the way to win the fierencelycompetition in the financial center between cities and realize the differential coordinationdevelopment for Shenzhen.Based on the financial industry agglomeration theory, the article tries to sort out thecourse of development of financial industry agglomeration in Shenzhen since the reform andopening up, and to measure the degree of financial industry agglomeration in our maincountrywide city and the main global financial ceter city. It also detailed discusses the currentsituation of the nine segments of financial industry in Shenzhen, such as the bank industy, thesecurities industy, the insurance industry, the futures industy, the funds industry, the venturecapital, the private equity funds, the credit ratings, the credit assurance and the small loanindustry. And this paper does the qualitative and quantitative analysis of the affecting factorsof Shenzhen financial industry agglomeration, including the internal cause (the scaleenomices, information, innovation, the economicial demand) and the external cause (thelocation, the infraustructure, the institution, the human capital). Then it researches the powermechanism of financial industry agglomeration; the positioning and strategy of developmentof financial industry for Shenzhen.In this paper, Shenzhen financial industry agglomeration is divided into three stages:entrepreneurship development periond, the transition time, the deepening developmentperiond. And with the principal component method, the Shenzhen’s financial industry concentration degree is ranked as third in the six major domestic cities and slightly on levelwithin the global financial center. Shenzhen has formed the multi-level capital market: themain board market, the small and medium-sized enterprise board, the growth enterprisemarket, the angency share transfer system of muti-level capital market. And it nurtured theVC/PE very well. In the internal and external affecting fators of Shenzhen financialagglomeration analysis, innovation and infrastructure and so on are insufficient. It reflectsShenzhen lacks of platform innovation. The Shenzhen financial industry agglomeration isjointly formed by the government and the market forces. And Shenzhen should vigorouslydevelop the small capital market and become the small and medium-sized enterprise pricingcenter. It als should seize the development opportunity of Qianhai, improve the concentrationenvironment, build the Hong Kong–Shenzhen financial circles with Hong Kong, as a part ofHong Kong international financial center.