Study On The Influencing Factors Of Financial Agglomeration In China

In July 2017,the Secretary Xi pointed out that "finance is the core competitiveness of the country" at the National Financial Work Conference.The financial industry has become the fresh blood of the national real economy,from 2005 to 2016,the contribution of China's financial industry to economic growth has been steadily increasing.The proportion of financial industry's added value to GDP has risen from 4% to 8.35%.The spatial movement of financial institutions and related companies has become a concentrated trend,gradually forming a financial center,financial agglomeration and its influencing factors are more and more attention.The research on financial agglomeration is mainly focused on a developed country and region,rarely study the differences between different regions,this paper selects the data of China 's 30 regions from 2001 to 2016 as the research object,to compare the regional financial agglomeration and development trend,and through the software such as Eviews,Stata empirical analysis of different regional financial agglomeration,which can provide good policy recommendations for the coordinated development of China's regional finance,and ultimately contribute to the development of China's real economy.Firstly,based on industrial cluster theory and financial geography theory,this paper introduces the connotation,characteristics,dynamic mechanism and development mode of financial agglomeration.Second,it analyzes the overall situation of China 's financial industry as well as the banking,securities and insurance industry.Once again,compares the differences of financial agglomeration in different regions of China by location entropy method,and from the perspectives of financial scale and financial resources,the development trend of financial agglomeration in the entire country,the eastern part,the central part,and the western part was analyzed.Finally,it empirically analyzes the effect of economic development level and government regulations on financial agglomeration.On the whole,China 's financial agglomeration degree is not high,regionalfinancial agglomeration development trend and influencing factors are also different.The results show that government regulation,consumption level will have a significant role in promoting the national and regional financial agglomeration;Industrial upgrading and urbanization promote financial agglomeration,but the role is not significant;The level of economic development,information technology,unemployment and technological innovation will have a significant adverse impact on regional financial agglomeration;The effects of opening to the outside world and human capital on financial agglomeration in different regions are different.According to the above analysis,it can provide reference for the development of China's financial agglomeration.