Empirical Analysis And Countermeasures Research Of Building The Regional Financial Center In Wuhan

Since the reform and opening up,midland of china has made remarkable achievement.However, the low level of production and division of labor lead to the low resoure utilization and the low industrial competitiveness.Economic growth also decelerate.Unreasonable industrial structure and the low level of foreign capital utilization resrict the economic development in the middle.Central Economic Work Conference in2003and2004,stressed the need to promote the coordinated development of regional economy.But in order to promote the coordinated development of regional economy and the full implementation of the economic revitalization of the central region,we are required to have the regional financial center which have a obvious advantage in geography and good infrastructure.This article have opted for the method of system analysis to describle the regional financial center-related theory and evaluation on the competitiveness of regional financial center starting from the theory of regional financial center.Based on previous studies,we build the competitiveness index system of regional financial center from the reality.In this article, the regional financial center competitiveness indicators are divided into two aspects:Fist,the revealed index system,including7indicators;Second, the interpretative index system, including economic development, opening strength,urban development three aspects. Such index system could be more completely and accurately reflect the region’s financial competitiveness level.Selecting six provinces in the central provincial capital as the object of study,we use the principal component analysis to evaluate the financial competitiveness and give a reasonable interpretation of the results.In the revealed index system,economic development, opening strength,urban development,Wuhan is very competitive by analysis.Compared to other central city,Wuhan is in a better position building a regional financial center.Finally combined with the opportunities and obstacles,we put forward corresponding countermeasures and suggestions from government involvement,economic development,financial institutions,finacial markets and so on.