Research On The Financial Competitiveness Evaluation Of Zhengzhou

Finance is the core of the modern economic system.It is closely related to regional economic and social development and plays an increasingly important role in promoting regional economic development and accelerating regional economic transformation.The higher the degree of financial development in a region,the better its economic and social development.Financial competitiveness is the embodiment of the development level of a financial industry in a country or region.Therefore,research on financial competitiveness is becoming more and more important.In the new era,the development of Zhengzhou is faced with opportunities and challenges.Under the background of Zhengzhou being selected as a National Central City and the State Council approved the “Central Plains Urban Agglomeration Development Plan”,the study of Zhengzhou's financial competitiveness has important theoretical and practical significance.Based on the combing of relevant literatures,this paper constructs an evaluation index system of urban financial competitiveness.Then,factor analysis and cluster analysis are used to evaluate the financial competitiveness of 13 cities including Zhengzhou.At the same time,it analyzes the changes of financial competitiveness in Zhengzhou in the past five years,and concludes the advantages and disadvantages of Zhengzhou and other cities in terms of financial competitiveness.Finally,the policy recommendations for improving the financial competitiveness of Zhengzhou were put forward in a targeted manner,which provided some ideas for Zhengzhou to speed up the construction of the national central city.The main study of this paper are as follows:This paper first describes the financial competitiveness of Zhengzhou.Taking the economic and financial data of Zhengzhou from 2003 to 2017 as a sample,it analyzes from two aspects of economic development and financial development.Data show that: 15 years,Zhengzhou's economy and financial development is rapid,but compared with other national central cities there is a certain gap.Secondly,it defines the concept of urban financial competitiveness and establishes a comprehensive evaluation index system for urban financial competitiveness.Based on the previous research results,this paper argues that urban financial competitiveness is not only reflected in the development of the urban financial industry itself,but also in the advantages and disadvantages of the urban financial development environment.Therefore,this paper constructs a comprehensive evaluation index system including financial development indicators and financial development environment indicators.Among them,financial development indicators include: financial scale and financial efficiency two factors,including 12 specific indicators;financial development environment includes: the four factors of economic strength,the degree of openness,the level of science and technology education and the level of infrastructure,including 23 specific indicators.In order to find out the disadvantages of Zhengzhou's financial competitiveness,this paper uses factor analysis to evaluate the financial competitiveness of 13 cities,and compares the financial competitiveness of Zhengzhou and other cities.At the same time,it also examined the changes in financial competitiveness of Zhengzhou in the past five years.The study concluded that Zhengzhou ranked ninth in the comprehensive financial competitiveness of 13 cities.It ranks lower in the national central cities and has a significant gap compared with other national central cities;it ranks second among the provincial capital cities in central China and has the potential to develop into a regional financial center.Then use cluster analysis to classify cities such as Zhengzhou and increase the credibility of the evaluation results.Finally,this paper puts forward the policy Suggestions to improve the financial competitiveness of zhengzhou city: First,optimize the financial structure and expand the scale of finance.Second,actively promote the development of the capital market,thus improving the financial market construction.Third,optimize the industrial structure and improve the level of economic development.Fourth,strengthen foreign cooperation and open the economy wider to the outside world.Fifth,we will increase investment in science,technology and education to boost financial development.Sixth,strengthen infrastructure construction and improve the financial development environment.