Comprehensive Evaluation On The Competitiveness And Analysis Of Influencing Factors Of The Financial Service Trade In China

With the development and deepening of global economy and free trade, the financial service has been one of the most significant industries in the national economy. The competitiveness of financial service trade has become an important symbol of national comprehensive competitiveness as well. Because of the small scale and weak foundation, financial service trade in China faced chronic deficits. Therefore, how to stabilize the financial system and maximize the benefits of financial service trade at the same time has a profound significance on the sustainable development of economy in our country. In this paper, combining theoretical research and empirical analysis, the author evaluates the competitiveness of financial service trade in China in the international market, and find out the related factors. In hope to help promote the long-term development of the financial service trade in China, there will be the relevant policy recommendations at last.In the first chapter of this paper, the research background and research significance, related literature and research, research content and overall framework are introduced. Then the relevant theories of financial service trade competitiveness are discussed and the competitiveness evaluation index system and its influence factor model are constructed. In the third chapter, grey correlation analysis method is used to evaluate the competitiveness of financial service trade in our country compared with 9 other countries. The conclusion is that among the top ten countries of the import and export trade of global financial service, the competitiveness of our country is the weakest. With the comparison of Singapore, a brief analysis of the causes of our weak competitiveness is followed. After that, adding the market openness and international factors with Porter’s "Diamond Model", this paper selects 16 economic indicators to represent the influencing factors in our country. The author proceeds the factor analysis and multiple regression analysis with time series data from the year 2000 to 2013 and finds that capital source of financial institutions, employment number in the financial industry, internet penetration, domestic demand for financial services, urban residents’ disposable income, trade in goods exports, second industry gross domestic product, GDP, deposit reserve rate, development opportunities, market openness was positively correlated with the financial services trade exports, namely, the international competitiveness of financial service trade in China could be improved by this factors. On the contrary, loan interest rate, market concentration, FDI investment in the financial industry and exchange rate against the dollar are negatively correlated with financial services trade exports, namely, these factors will weaken the international competitiveness of financial service trade in China. Finally, according to the foregoing conclusion, there will be some policy recommendations to enhance the competitiveness of financial service trade in China.