| Officially started on March 2015, China’s “Belt and Road Initiative” development strategy brings super excellent development opportunities for the areas along. As an important area on the “Silk Road Economic Belt”, Qinghai ought to actively seize this favorable development opportunity, and give full play to the regional geographical location advantage, so as to create a regional financial center.With theoretical principles of financial supply guidance theory, financial geography theory, regional economic theory and financial industry cluster theory, this paper conducts a systematic analysis on the feasibility and necessity of regional financial center construction in Qinghai by adopting methods of document analysis, statistical analysis, case analysis and SWOT analysis. Besides, this paper also proposes a way to complete the construction of such center in under-developed Qinghai and discusses how and what to construct.Located in the heartland of five provinces in western China as well as connecting our country’s inland areas to the east and countries of Central and West Asia to the west, Qinghai has a superior geographical position. However, the industrial development is limited by its special and fragile natural ecological environment, which forces Qinghai to seek a sustainable development path of green ecology. As a result, making full efforts to create the regional financial center becomes an optimum choice for Qinghai. It can be learned from the SWOT analysis that superior, location, outstanding history and culture as well as stable economic and financial development are the main advantages for the regional financial center construction in Qinghai, while its insufficiency in economic, financial and personnel strength are deemed as the weaknesses. Development strategies such as “Silk Road Economic Belt” bring opportunities for Qinghai to construct the regional financial center, while pressures arising from western cities’ striving to be the regional financial center and resistance that may exist in the cooperation between different regions pose challenges to the regional financial center construction in Qinghai.The results from SWOT analysis show that, in terms of the regional financial center construction in Qinghai, SO strategy which refers to superiority and opportunity strategy shall be implemented. Relying on its excellent location and historic and cultural advantages, Qinghai is in a position to be integrated in “Silk Road Economic Belt”, which could add the jetton for seizing opportunities. At the same time, the rapid development of economic and financial business could also be achieved by virtue of “Silk Road Economic Belt” development, thereby strengthening its own advantages by using exterior opportunities.To implement the SO strategy and construct the regional financial center in Qinghai, the government-motivated construction model ought to be adopted. Local government in Qinghai should coordinate with central government to list the regional financial center construction in Qinghai into the national financial development planning, guide the financial industry to the cluster formation in Qinghai, continuously strength the economy, do a good job in infrastructure construction and propaganda as well as introduce financial talents. The regional financial center has the characteristics of green ecology, providing service for the Silk Road, modernization and information, innovation support, culture root-taking and concern for advanced energy mining industry. The construction of the regional financial center can be completed in four tranches: to form a financial center in Xining to serve the whole Qinghai and radiate the northwest; build an energy transaction center facing to the Central Asia; to establish a RMB settlement center for Central and West Asia; to take shape a fully-opened regional financial center serving the Silk Road. |
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