Beijing, Tianjin, Chongqing And Financial Competitiveness Difference

Finance is the core of modern economy and plays a decisive role in the economicdevelopment. In view of this, the research of City financial competitiveness which is apart of the research on economic competitiveness of the city has become more and moreimportant. Beijing, Tianjin, Shanghai and Chongqing are the representative of in China,which developed economy and has the financial total amount of city. So it is veryimportant on studying the region’s financial competitiveness. This paper’s the researchobject is four municipalities directly under the central government. We analysisfinancial competitiveness by the qualitative and quantitative method.The overall research ideas as follows: Firstly, we combine with the concept ofcompetitiveness and interpret financial competitiveness and City financialcompetitiveness by the classical theory in this paper reviews and summaries the relevantliterature; Secondly, combining with Potter’s competition theory including the diamondmodel, the classic theory of financial resources and financial measure theory and so on,we design the evaluation index system of the financial competitiveness of Beijing,Tianjin, Shanghai and Chongqing by the actual situation and the availability of data;Third, we analyze the financial competitiveness of Beijing, Tianjin, Shanghai andChongqing by factor analysis.This paper shows that: the financial competitive level in Beijing and Shanghai arebeyond the other cities. Beijing that is the China’s political center has powerfuleconomic strength. Shanghai is our country’s financial center, the strong financialstrength of which has also given great impetus to the economic development and thedevelopment of regional finance. Tianjin is the capital city of the eastern port.Chongqing is the west provincial capital city. Their absolute financial numbers fallbehind with Beijing and Shanghai. But, the respectively financial competitivenessgrowth speed and the potential increase of Tianjin has increased from2006andChongqing from2007. Particularly, the economic development of Chongqing andTianjin grow fast, even more than Beijing and Shanghai after2006.Financial scale, financial efficiency and financial ecological environment are thethree aspects of measuring important regional financial competitiveness. Through theresearch on the regional financial competitiveness difference in the four cities, we thinkthat the main cause of the difference is due to the impact of location factors and policy differences. The difference of Location is the natural conditions; The difference ofpolicy mainly include the time of policy regulation, the aspect of policy regulation andthe intension of policy regulation. However, the intension of policy regulation is mainlyaffected by the economic environment influence. Therefore, the necessity of reducingthe financial competitiveness difference is proposed by their.Finally, we put forward some suggestions, For instance: advancing the constructionof Regional Economic Zone; implementing the differential financial policy; acceleratingthe promotion of regional financial center formation.