Research On China's Regional Financial Structure Based On Multi-Level Growth Poles

Imbalance of regional economic development is an objective fact during the courses of economic development in every country. Based on the theory of imbalance of economic development, the courses of geographical evolution in regional economic development is from pole to axis, then from axis to plane, through the alternating acting of polarizing and diffusing, finally to the relative balance of regional economic development. In this course, pole refers to growth pole. Actually, theory of growth pole focuses on the imbalance of regional economic development, concentrating limited scarce resources on several departments and regions which have high potential of development, effect of economies of scale and obvious returns of investment, to make differences from the area around, and to promote economic development of the whole region, due to conducting strength of market economic mechanism.Regional economic development is driven by the dual mechanisms of polarized and trickling-down effects of growth pole, but in the different economic system and different regions, the effect of growth pole is different. Especially in the less developed regions, because market economy is not developed, the market mechanism is not sound, industries lack relation, economic protection barrier between regions are many, the polarized effect and trickling-down effects of growth pole are restricted and the scope and intensity of spatial action all change small. Therefore in less developed regions, multi-level growth poles should be established. This growth pole is not a single, and it has size and level. Growth poles can be large cities, and can also be small cities or counties scattered around the country.In the multi-level growth pole's polarizing and diffusing process, the financial resources also display the same spatial and temporal operational mechanism with other elements of production. It displays for the spatial and temporal dynamic phenomenon and condition that monetary funds, financial products and tools, financial institutions, financial system, financial laws and regulations, policies, cultures of certain scale and density coordinate, collocate and assembled in certain region. When polarized effect occurs, marginal productivity and marginal profit in the growth pole enhance, and the financial resources will gather extremely to the growth pole, and provide financial supports to the growth pole.The growth pole has the hierarchy, and the different level and scale's growth poles have different demand to the finance in the process of establishing and developing. The economic conditions of different level and scale's growth poles have decided the supply and demand of financial resources. The demand and behavior of economic subject in different level and scale's growth poles have directly decided different finance supplies pattern of regional finance. And the regional financial development pattern also must obey the economic realistic need of different growth poles. Under the economic adaptability and the profit inductivity of different growth poles, the regional financial institution should adjust their service structure and scale structure spontaneously, carry on the financial innovation effectively, reduce the financial risk, enhance finance function and the disposition efficiency of financial resources, and thus realize the regional financial structure optimization and the regional financial development. The structure optimization of regional finance is advantageous to the development of superiority industry and the formation of complementarity's industry system in the multi-level growth poles, is advantageous to industrial structure's adjustment and structure upgrade, and is advantageous to supporting"weak finance community"and weakening dual economic structure.Our country's regional financial structure has the characteristic of administrative balance before reform and open. Along with the socialism organizational reform consummates unceasingly, our country's regional financial structure presents the new characteristic. The main performance displays the transform of regional financial layout from the administrative balance to the market imbalance, and the spatial disposition of financial institution, market, mode, action, and deals are not administrative balanced but market in-balance,according to the market economic rule and regional development level. But the existing characteristic of regional financial structure displays actually for the regional financial structure obviously unbalancing, therefore we must carry on the structure optimization to our country's regional finance. Structure optimization of regional finance has not an absolute optimized standard; the key lies in whether can display its function fully, manifests its efficiency, and can promote the regional economic development. In view of realistic characteristic and existence questions of regional financial structure in China, this article proposes the overall mentality of optimizing regional financial structure: must optimize and adjust financial structure, according to economic development of different level's growth poles. Our country's optimization way of regional financial structure is divided into three part:optimizing macroscopic structure of regional financial structure, optimizing multi-level growth poles'financial structure of certain regions, and optimizing multi-level growth poles'financial structure of different economic development regions. These three parts are not separate, but close. The optimization of macroscopic financial structure affect and decide the optimization of regional financial structure overall, the second part provides the overall mentality and general way of optimizing regional financial structure from the multi-level growth poles, and the utilization also must distinguish according to the different regions'economic development in China.