Study On The Influencing Factors Of The Construction Of Chongqing Functional Financial Center

With the process of economic globalization and information accelerating,the financial industry,which can efficiently dispatch resources,has become the accelerator of national or regional economic development.As a highly developed financial center in financial industry,the construction of financial center has increasingly become an important measure for many countries or regions to develop their economy.Under this background,the situation of "one province,one center" has emerged in our country,resulting in the homogeneity of the construction of financial centers in various provinces and cities.Forming vicious competition for resources,and even turning the economic development impetus of financial center construction into economic development resistance,many provinces and cities began to plan the road of construction of different financial center.For example,Lanzhou began to seek the construction of a resource-based financial center in the "Belt and Road" economic belt.Chongqing,as the only municipality directly under the Central Government in the western region,relied on its strategic position in the large-scale development of the western region and the Yangtze economic belt as early as 2009.Being designated by the State Council as a regional financial center in the upper reaches of the Yangtze River,19 th CPC National Congress of the Party and Chairman Xi Jinping of the Party in his Chongqing speech on early 2016 further emphasized that Chongqing,as an open highland in the western region,should find its own position.To help complete the new task of shifting the focus of economic growth to the Midwest.According to the Party Central Committee's plan for Chongqing's development,the Chongqing Municipal Government has further accurately positioned Chongqing as a functional financial center.This paper attempts to meet the new requirements of the development of the functional financial center.From the angle of forming mechanism and function of financial center,this paper explores the financial center through five functions and runs through the evaluation index system of financial center with the characteristics of settlement function of Chongqing.This paper investigates whether the current development of Chongqing financial center meets the requirements of the development of the functional financial center characterized by settlement function,and seeks the starting point of the construction of the functional financial center in order to further accelerate the development of the functional financial center.This paper combs the causes of the formation of the financial center at home and abroad,the selection of the functional and influential factors,and the selection of the evaluation index of the financial center according to the scholars' evaluation of the financial center.Taking into account the reality of Chongqing's functional financial center,which is positioned to develop the clearing and clearing function,combining the relevant theories of financial center with the theory of settlement currency selection,and starting from the formation mechanism of financial center,including economic strength,The index system of the comprehensive service function and the financial ecological environment of the financial center,considering the influencing factors of the RMB cross-border settlement and the function of the financial center innovatively,from the economic strength through the factor analysis.Three aspects of comprehensive service function and financial ecological environment of financial center reflect on the positioning of building functional financial center in Chongqing.It is found that in the long run,this positioning conforms to the characteristics of Chongqing's economic development,and in the short term,The functional financial center has the problems of unbalanced function development,weak economic competitiveness of foreign trade affecting cross-border settlement and increasing industry risk,so it is necessary to adjust the focus of the next financial center.At the same time,using TOPSIS to compare and analyze Chongqing,Sichuan,The formation potential of the functional financial center,which is characterized by financial settlement in Yunnan and Shanghai provinces and cities,is found to have an absolute advantage in the western region,but its economic efficiency is on the low side.Finally,based on the results of the horizontal and vertical analysis of Chongqing functional financial center,the paper tries to consolidate the economic base and balance the service function of the financial center.To optimize the financial ecological environment and prevent the financial industry from the point of view of the development of specific proposals.