Research On The Impact Of Social Financing Scale On China's Economic Growth

In recent years,China's social financing scale diversified development trend,since the scale of social financing concept,attaches great importance to the monetary authorities,traditional banks as the main channel of social financing gradually declined,with broad money M2 and new RMB loans macro-control force on monetary policy significantly weakened.In the background of the new economic norm next,our country is faced with the optimization of the financing structure,the structural adjustment of economic growth challenges.The adjustment of industrial structure,then adjust the scale of social financing structure is very necessary,at the same time,the analysis of social financing structure of three major industries for economic growth,adjust the financing structure,and provide a theoretical basis for the optimization of the industrial structure,so the analysis of social financing scale the effect of real economic growth,has important significance.In this paper,through descriptive statistical analysis and empirical analysis method of combining,using descriptive statistical analysis of China's current social financing situation,financing structure and change trend,the current economic growth structure in China is analyzed.The analysis of the social impact on the scale and structure of the three industries to economic growth using grey correlation degree and the state space model,analysis results show that the scale of social financing effectively promoted the growth of the real economy,the financing structure is the trend more obvious,non bank in the form of business financing in the financing of the social scale the rising influence,ability of leading bank financing all weakened,but the banks in the form of business financing and bank balance sheet business financing presents collaborative development trend.Non bank financing and bank financing efforts on banking,financing plays a great The shunt function in the form of business and non table of bank financing in the form of business financing proportion is gradually narrowing trend,bank control in business financing decreased significantly.At the same time,there are obvious interaction between non bank in the form of business financing.On the structure of China's economic growth to economic growth,although the second industry slow down,but still high,economic growth in the third industry is in a slow growth trend.The different ways of financing for the three major industries influence economic growth of different.In the form of business financing on the three industrial economic growth in recent years has certain negative impact effect,non bank balance sheet business financing substitution effect significantly the enhancement of the bank balance sheet business showed some volatility impact on economic growth in the primary industry,the policy may be affected by policy.In second,the three industry The economic growth effects of later stage affect the level of relatively stable,a great influence on the economic growth of the second industry.Direct financing,other financing has a stable effect on economic growth.The first industry financing institutions to the three major industries in the economic growth effect on the whole,consistent with the trend of changes in three industrial economy growth,but the impact strength is different.The scale of social financing on the elastic changes in the overall economic growth trend,in recent years,with the expansion of the scale of social financing,the economic growth due to the increase in efficiency,financing elasticity showing a slow upward trend,but from the micro economics perspective,the scale of social financing on economic growth is the lack of elastic.Finally,combined with China's current social financing scale situation analysis of the development of Xinjiang social financing scale trend,and the whole nation through financing The scale and level of analysis found that compared to Xinjiang social financing scale and the development speed,showed significant volatility;banking financing still occupy the main channel for financing,the RMB loan is still the main channel of bank financing business,occupy the dominant position in the scale of social financing when,and the difference is obvious.