Financial Strategies Research For Underdeveloped Areas Development Around Beijing

Since the reform and opening, China’s economy has experienced a process shift from inpriority to develop some areas to the coordinated development of surrounding region, fromthe center city absorbing the surrounding region to the center city radiating surroundingregion. The “five-year plan” strategic vision focuses on building Ring Beijing EconomicCircle in order to effectively undertake the capital’s industrial technology. On February26,2014, General Secretary Xi Jinping highlighted the requirement to achieve integrateddevelopment of Beijing, Tianjin and Hebei while listening to the collaborative developmentwork report. From international experience, some international metropolis such as London,Seoul, Tokyo, Paris have established the huge ring capital economic circle which has formed astrategic hinterland for city development and function extension.Underdeveloped areas around Beijing is an important part of Ring Beijing EconomicCircle which not only assume the task of the region’s economic and social development, butalso bear to provide water resources, protect the environment and maintain the stability in thethese areas. To achieve green development in underdeveloped areas around Beijing isimportant to improve the living standards of local residents, protect water resources andecological environment around Beijing and maintain social stability around Beijing.This paper defines the scope of underdeveloped areas around Beijing. This paper followsdifferent phase’s character of economic development variation and different economicdevelopment stages, obeys objective requirements of non-equilibrium growth to balancedgrowth of our country’s regional economic development and integrates economicdevelopments characteristics as well as financial supply and demand conditions. This paper isdevoted to analyze the phenomenon and reason of the economic and social development ofthe underdeveloped region and elaborate the performance and region between the financialneeds and the supply shortage of accelerated development of underdeveloped areas. Throughthe analysis of the necessity and objective conditions to increase financial support by thecommercial finance for Green development in underdeveloped areas, against financial supply shortage performance and reason in this region and based on objective need to accelerate thegreen development in underdeveloped regions, this paper proposes the financial developmentidea and main measures to support financial development of underdeveloped areas aroundBeijing respectively from the deepening financial reform, improving the institutional system,increasing policy financial support, enhancing commercial financial support, optimizing thefinancial ecological environment and promoting the healthy development of the financial andeconomic development aspects.