A Study On The Relationship Of China’s Financial Services Trade And Economic Growth

With the new technology industry development and upgrading of accelerating international market demand, industrial structure of the world is constantly adjusting, many country is trying to change the mode of economic development in order to adapt to the current economic trend. Although Goods trade still occupy a leading position in international trade, but its growth rate has lagged far behind the services trade, services trade has injected new vitality for the rapid development of world economic growth. Finance is the core of a country’s economy, and financial service trade is also an important part of the services trade, the development of financial service trade not only promote the liberalization of the global financial market, it also play a role through impacting the various economic factors. In order to conform to the current business situation of economic development, and provide a new path to the transformation of Chinese economic growth, this article try to explore the existence between financial service trade and economic growth on the basis of the relevant theoretical research before, in order to find the correlation between financial service trade to China’s economic growth.Firstly, this article introduces background, purpose, and ideas and content, providing a basic context of the article; the second part of this paper summarizes the relevant theoretical and empirical studies of domestic and foreign financial service trade and economic growth; the third part of this article is an overviewing of the development of China’s financial services business, including the basic situation, and its international competitiveness; the fourth part of the article is going to explain the impact on economic growth path of financial service trade theoretically, it mainly includes three aspects, financial services trade promote economic growth by affecting production factors, the financial services trade promote economic growth business by promoting financial development, the financial services trade promote the goods economic growth by promoting trade development; the fifth part of the article is empirical examination of the fourth part, including the examination of the relationship between financial services trade and economic growth, and the three paths of financial service trade influencing economic growth. Through theoretical and empirical research of the above we can find that there is a positive correlation between economic growth and financial services trade, the three paths are also all feasible. Finally, give some appropriate recommendations based on the research results on China’s current economic situation in order to promote economic growth.