Research Of The Financial Assets Structure Of Urban Residents In Hebei Province

Data show that the per capita disposable income of urban residents in Hebei province has reached to 22226.75 yuan by the end of 2013,increasing by nearly 80 times higher than that of in 1978, which has directly increased the total financial assets. Along with the continually increasing total financial assets held by the urban residents in Hebei, its position in regional economic development has been gradually improved.As a result, improving the urban residents’ financial assets structure in Hebei has a huge significance for diverting savings, increasing financial investment and promoting regional economic development.Based on the urban residents’ financial assets structure in hebei province as the research object. In this thesis, the urban residents’ financial assets can be divided into four aspects, which are spot cash,saving deposits, securities, and savings insurance [1]. This thesis makes an analysis on both stock structure and flow structure of urban residents’ financial assets by data, and then analyses and studies the existing problem in urban residents’ financial assets structure in Hebei. Result shows that,although the urban residents in Hebei make more and more diversified financial investment, variation in financial structure is relative lag, compared to the rapid growth of total amount. There is much difference between monetary assets and non-monetary assets. As the monetary assets still takes the lead, there still exists a serious imbalancein structure. There are several factors that influence urban residences’ financial assets structure in Hebei,mainly include social change, adjustment of financial institution system, disposable income,consumption level, per capita GDP and so on. On this basis, this thesis selects four factors as variables, they are economic development level,consumption level, income and interest rates. Spot cash, saving deposits,securities and savings insurance are explained variables. With ADF test,Johansen test and vector error correction model.It comes to the conclusion that: ? there are three factors exerting influences on urban residents’ spot cash in Hebei province, they are interest rates,disposable income and consumption level;?there are four factors exerting influences on urban residents’ saving deposits in Hebei province, they are interest rates,disposable income, consumption level and per capita GDP. ?the factor exerting influences on urban residents’ securities and savings insurance is interest rates.On the foundation of empirical results, this thesis puts forward some suggestions on improving urban residents’ financial assets structure in Hebei province, such as enhancing residents’ financial awareness, completing social security system, strengthening the innovation of financial products and so on.