Research On The Impact Of Sub-regional Financial Cooperation To Xinjiang Economic Growth

In 2008, the world financial crisis have brought a painful lesson to the world’s major economies, but also push the international financial cooperation to the stage of history. Worldwide, the European Union, North America, ASEAN and the BRIC countries are all in the implementation of regional financial cooperation, China is also strengthening of the bilateral and multilateral cooperation as a financial services trade and investment, and promote the internationalization of RMB, prevent financial risks and even build a new international economic order an important tool.Kazakhstan is largest economy in Central Asia, and also high-income countries of the World Bank’s classification. China and Kazakhstan are neighboring land, the two sides trade through the Alashankou port, Horgos, Timbuktu crossings, ports and Lata Jimunai port, and economic activities frequently. Since 2011, China has become Kazakhstan’s second largest trading partner and largest export market.Currently China & Kazakhstan financial cooperation has a gradually track. Further promote and deepen the China & Kazakhstan cooperation in line with the inherent requirements of monetary and financial globalization, also in line with the actual needs of both sides and economic development of China and Kazakhstan.With the China-Kazakh Cooperation Committee and its Sub-Committee is hereby established under the areas of cooperation between the two countries continue to extend. Meanwhile China and Kazakhstan as members of the Shanghai Cooperation Organization has played a significant role, especially to ensure regional security(including border peace), such as the smooth progress of economic cooperation. Although the mechanism by means of dialogue in this sub-committee Kazakh financial cooperation at the governmental level, indeed largely contributed to the upgrading of the Kazakh financial cooperation, but do not let this great sense of long-term cooperation dialogue at the level of senior government officials wandering not before, we must go deep into specific areas of the grassroots in order to effectively serve the economy and trade between the two countries.At the beginning of the writing of this article, we recognize that one of the goals is both a prerequisite for trade and financial cooperation, as well as financial cooperation. Also confirmed that based on this knowledge, the first article on the profile of the financial sector in Kazakhstan, background and current situation of financial cooperation between the two countries do an analysis, followed by trade data for guidance and thus come out of financial cooperation for the future economic growth in Xinjiang the effects last for a full analysis of the proposed co-existing problems and give suggestions, the whole idea is as follows:The first chapter, Introduction section includes background and significance, literature review, research methods and ideas and innovation framework and shortcomings.The second chapter discusses the background of Kazakhstan and China financial cooperation. Then, make a descriptive introduction of the following three aspects of Kazakhstan and China’s financial industry, mainly from the banking, insurance and securities. And last, introduce the general situation of Xinjiang’s economic growthThe third chapter from four levels of government, banking, insurance and securities industries in Kazakhstan summarized the achievements made in financial cooperation, analyzed the current situation in the Kazakh financial cooperation.The fourth chapter using var econometric model, analyze the impact of financial cooperation to Xinjiang’s economic growth with trading data.The fifth chapter, according to the results of the article, points out the existing problems. And make some practical suggestions.The main point of this paper is that financial cooperation between China and Kazakhstan will undoubtedly eventually be the driving force of economic growth, not only for the real economy of the two countries, but also for route places. It is a new growth point in the future economic development. But the specific process is not known. Therefore, using var model, this paper analyzes and forecasts the specifically response to the economic growth of Xinjiang, under the disturbances of China and Kazakhstan financial cooperation. This has a great significance for the future of the two countries to carry out deeper financial cooperation.