Comparative Study Of The Development Of Financial Industry In Bohai Economic Circle And Yangtze River Delta Economic Circle

Finance is the core of modern economy, is one of the main driving force ofeconomic development.There is an obvious promote relations between regionalfinancial development and economic growth. Since the reform and opening up ofChina, the financial industry is developing rapidly.As the financial increases, thestructure optimized, regional financial difference problem is serious increasingly.Bohai economic circle and the Yangtze river delta economic circle in the regionaleconomic development pattern in China’s two most important growth pole.Because ofthe economic development level, industrial structure, economic policy, the influenceof many factors such as openness, its financial sector development in the financialscale, financial structure, financial efficiency and financial market has bothsimilarities and obvious differences.From the point of the current domestic research, A lot of research has been doneon regional financial difference and the problems such as regional financialdevelopment and economic growth for. In the existing research results, on regionalfinancial difference, mainly in the nationwide comparison or a comparative study ofeastern, central and west. The Yangtze river delta and bohai economic circle in the financial sector is less comparative studied. This article will discuss from theperspective of regional economics, using the combination of theoretical analysis andempirical analysis method, combing the region finance development in the system, onthe basis of relevant theories, using the comprehensive measure of the financialindustry development level index analysis of the two regions financial industrydevelopment, and thoroughly discusses the causes of regional differences in financialdevelopment. Finally, making suggestions on the financial sector development in twooperable countermeasures.From the level of economic development and the level of regional financialdevelopment, bohai economic circle in terms of total economic aggregate and thefinancial sector were greater than Yangtze river delta economic circle, but in percapita GDP, per capita deposit and balance on indicators, such as Yangtze river deltaeconomic circle is better than that of the bohai economic circle. From a financialindustry of the development of the securities, banking, insurance industry’s point ofview, securities industry development level is higher than the Yangtze river deltaeconomic circle of bohai economic circle, but its banking industry development levelis lower than the Yangtze river delta economic circle, and there is a certain gap. Botheconomic circle of the insurance industry development level shows a huge development space. From financial scale, financial efficiency, financial markets,financial institutions and other indicators point of view, the in securitised bonds,equity financing, the development of financial institutions of bohai economic circlehave certain advantages, while the Yangtze river delta economic circle of financialratios, financial efficiency, efficiency is good at financial institutions.Our country is a regional economic development imbalance developingcountry.Geographical location, economic development level, industrial structure,institutional factors, government policy, market openness as well as the culturaldifferences affecting the development of regional finance from different aspects, andmake the development of different areas of the financial sector faced with a certaindegree of difference. First, from the perspective of the level of economicdevelopment,on the one hand, the regional economic development level decides thelevel of regional financial development, the level of regional financial developmenton the other hand also promote the rapid development of regional economy. Bohaieconomic circle and the Yangtze river delta economic circle is roughly the economy,the financial sector amount is the same. Bohai economic circle is obviously betterthan the Yangtze river delta economic circle of per capita GDP, make its financialquality obviously superior to link bohai sea economic circle. Second, from the perspective of industrial structure, the bohai economic circle have a large and strongdual economic structure, and the second industry is quite high.The financial industrydevelopment level is low except Beijing, other provinces and cities of the financialindustry is relatively backward; Three big industry of Yangtze river delta economiccircle is relatively reasonable and its internal development is more balanced. This ledto the financial efficiency and per capita amount of Yangtze river delta economiccircle is better. Third, from a policy perspective, bohai economic circle in policy termsis not occupy obvious advantage compared with the Yangtze river delta economiccircle and the correlation among provinces and cities of the economic policy is notwell.In the Yangtze river delta economic circle, Shanghai under the support ofnational policy and regional policy obtained rapid development of inancial industry.Fourth, from the Angle of market openness, Yangtze river delta opens earlier.Inreference to foreign investment, private economy has a substantial lead to the bohaieconomic circle. This also led to the Yangtze river delta economic circle of thefinancial sector in terms of openness, radiation role ahead of the bohai economiccircle.Although bohai economic circle and the Yangtze river delta economic circle hada rapid development in financial industry, but the two economic problems faced by financial industry development is still grim. Through comparative analysis, this paperargues that bohai economic circle has no formation mechanism of regional financialcooperation, not good regional internal coordination of the monetary policy, regionalmarket opening degree is low, did not form the internationalization issues of regionalfinancial center. Yangtze river delta economic circle has the problem of thedevelopment of finance relies heavily on capital investment,financial marketdevelopment of small scale and level of regional financial development differenceobvious and not form a good regional cooperation mechanisms, etc.In order to solve the problems of the Yangtze river delta economic circle andbohai economic circle in the financial industry development.Both economic circlesshould break the regional barriers, improve the financial industry’s openness, makerational and effective flow of financial resources, give full play to the two economiccircle in each financial center of regional advantages, efforts to improve the radiationeffect of every financial center, so as to drive the two economic the development offinancial industry, and promote the economic development of two economic circle.Making the financial sector development and economic development of the twoeconomic circles have good interactions.