An Analysis Of China’s Financial Industry And Other Related Industries

Finance is the lifeblood of the modern economy, the financial sector to promote economic growth through its unique products and services. Deng Xiaoping once said Finance is the core of modern economy, The financial invigorate the economy as a whole are living. Financial and economic relations has been always is the hot issue of scholars study, and with the continuous development of the deepening global economic ties and foreign trade, how to correctly understand the development of the domestic financial sector and the position in the national economy is of great importance.This paper first reviews the studies on the relationship between finance and economic growth, the analysis revealed that the majority of these documents are from the qualitative point of view to study the relationship between finance and the economy, and the conclusion is also inconsistent; second review of the input-output method in industry analysis, which competitive analysis of China’s financial industry is the domestic use of the preparation of the input-output tables,but these studies did not exclude the impact of imports on intermediate inputs, has a certain influence on the accurate analysis of the financial sector industry association, therefore, this paper using non-competitive Eurostat input-output tables compiled from a quantitative point of view to study the correlation of the domestic financial sector and other industries in the national economy. In this paper, using 1995 year to 2011 year 35 input-output table in specific sectors, by calculating the financial industry for various industrial sectors of the national economy direct consumption coefficient, for three industries directly consumption coefficient, the rate of intermediate inputs and intermediate demand rate, A series of index values influence coefficient and sensitivity coefficient to quantify the financial sector industry characteristics, through these coefficient values can clearly understand the impact on the financial industry in the end what sectors of the national economy and the impact of size.The results of this study showed that:Financial industry in the process of production activities on the dependence of the industry itself is one of the greatest, but this capacity to promote Over time there has been a downward trend; Followed by the direct consumption of real estate, hotel and restaurant industry, paper and printing industry and electricity and optical equipment industry and other industrial sectors. In addition. the domestic financial sector is not directly consume animal husbandry and fishery,indicating that the financial sector is not directly dependent on its;in three industries.the direct correlation of the financial industry and the tertiary industry is the highest, followed by their own industry and the secondary industry, but overall downward trend emerged. At present,China’s financial industry still belongs to the intermediate product type basic industries of intermediate demand is high and intermediate inputs is low, description of the financial services industry in the production of the main products and services to the financial industry are used as part of living is less consumption, and in the production process, driven by the upstream industry is weak, and its high value-added capabilities. In other sectors of the national economy when comparing discovered, the impact and influence of China’s financial industry coefficients are lower, ranking in each industry is also on the list, and they appear downward trend, indicating that China’s financial industry in the national economy the industry position is not high, the demand for a smaller role in driving other industries, is not currently a leading industry in our country; while sensitivity and sensitivity coefficient of the financial industry are larger, greater influence and influence coefficient, indicating nationals economic capacity of the financial sector led the financial sector to the national economy is greater than the influence of various industries, but there was a certain sensitivity to decline. Therefore, the development of the financial sector should take the initiative by actively promote financial reform and improve China’s financial markets and encourage innovative financial products and services to the industry, the financial sector to the national economy to expand the influence of other industries, financial services really play the financial sector, better for contributing to the development of the real economy.