A Comparative Study Of The Financial Development Level Of The Six Provinces In Central China

Based on the basic theories of financial development and relevant domestic and foreign researches, this paper constructs the regional financial development evaluation index system, and uses factor analysis to measure and analyze the financial development level of the six provinces in Central China. The results show that: Firstly, the financial development scale factors and efficiency factors of the six provinces in Central China score differently. During the process of the financial development of the six provinces in Central China, the financial development scale factors and the financial development efficiency factors have not yet reached the collaborative development; Secondly, the financial development comprehensive factors of the six provinces in Central China score increased year by year and the scores increase significantly from 2000 to 2013. Thirdly, from the relationship among the financial development scale factors、the financial development efficiency factors and the financial development comprehensive factors of the six provinces in Central China, we can see that the changes of the financial development scale factors and the financial development comprehensive factors are trend to be convergent,which shows that the financial development level of the six provinces in Central China affected by the financial development scale factors is bigger, and the financial development efficiency factors are not enough to affect the financial development level of the six provinces in Central China. Fourthly, the financial development of the six provinces in Central China is not balanced and different provinces have different forms. Fifthly, the financial development characteristics of the six provinces in Central China are similar to the national financial development, and the financial development level of the six provinces in Central China is slightly lower than the national level.In view of the existing financial development level of the six provinces in Central China, we argue that in order to achieve the strategic goal of the rise of Central China, the following measures should be taken to improve the financialdevelopment level of the six provinces in Central China.Firstly, in view of the differences between the financial development level of the six provinces in Central China,the guidance to financial development should be different. Secondly, promote the further development of the financial market. Thirdly, improve the efficiency of the financial system of resource allocation. Fourthly, establish the financial risk prevention and control mechanism and pay attention to financial stability. Fifthly,promote regional financial cooperation and improve the regional financial development. Lastly, strengthen the financial innovation.