Factor Analysis On Sustainable Growth Of Tianjin Financial Agglomeration

Financial agglomeration level can reflect the core strength of the center city. In recent years, the research on the financial agglomeration is not as mature as the manufacturing industrial cluster phenomenon research, but gradually be dynamic. However, in the present study do not involve the sustainable development research after the financial agglomeration yet. Tianjin is the economic center in north China, in recent years high-speed development of the finance industry in Tianjin caused wide attention, but the development of Tianjin financial agglomeration is not stable. How to improve the Tianjin financial agglomeration level, how to promote the sustainable and stable development of Tianjin financial agglomeration and what factors influence the sustainable development of Tianjin financial agglomeration, are not only the focus of the academia and practice field, but also the key of setting up Tianjin international financial center.Firstly, this paper based on the existing literature, combined with the reality of Tianjin. and put forward six aspects in what influence the sustainable development of Tianjin financial agglomeration based on the porter diamond model:demand factors, the investment of capital and human capital factor, financial institutions competitive factors, information liquidity factors and government policy factors.Secondly, by collecting relevant data of Tianjin, this paper uses regression and principal component analysis method (eliminating the government policy factors, because it cannot be quantified) in the empirical analysis. The results showed that, demand factors (especially foreign demand factors), human capital and capital investment factor are the main factors in influencing the sustainable development of Tianjin financial agglomeration. And financial institutions competitive factors influence slightly weakly, information liquidity factors are not the main factor.Lastly, in order to promote the sustainable development of Tianjin financial agglomeration, and the construction of Tianjin international financial center, this paper puts forward a series of specific policy recommendations, such as further improving the level of opening up to promote the offshore financial center construction; Giving full play to the government’s role to establish and perfect the financial market system; Attracting high-end financial talents to improve the financial innovation level; Reducing the proportion of state-owned economy to promote the free flow of financial resources; Vigorously developing the related industries to promote financial agglomeration.