The Path To The Realization Of The Financial Industry Gathering And Its Implications For China

Financial industry agglomeration is an effective approach to promote the development of financial industry and to improve the competitive power. In recent years scholars do much research on industry agglomeration. However there are no uniform ideas on the formation and affecting factors of industry agglomeration. Now the financial industry agglomeration in our country has developed for a certain period ,but the degree of agglomeration is low. And the layer of agglomeration is low, which represent in that the financial centre city has not enough power to attract the financial institutions, financial business and financial products. Regional financial centres has appeared ,but there is a long way to go to become international financial centre.On the background of steady growth of the economy of our country, it is a big issue how to promote the financial industry agglomeration and boost the financial industry development. Therefore , the start point of this paper is what is the route to realize the financial industry agglomeration and how to promote and realize the financial industry agglomeration of our country.This paper study the subject from three layers, that is, theory, experience and practice.First, this paper construct a theoretic framework of financial industry agglomeration and analyze the formation, development, spatial development and effect of financial industry agglomeration. After the research of the experience of financial industry agglomeration of foreign counries, we studied the acturality ,factors and the development strategy of financial industry agglomeration in our country.The paper mainly has four sections: introduction, theory analysis,experience analysis and practice analysis.The first section is introduction. First, we state the research significance of this paper. In the section of Literature overview,we pack up the theory and research of industry agglomeration and financial industry agglomeration. Based on the value of the former research, we bring about the analysis framework of this paper and describe the research method and innovation.Theory analysis is the emphasis of this paper. Aimed at rhe approach of realizing financial industry agglomeration, we erect a theory framework to analyze the financial industry agglomeration. Based on the theory of agglomeration economy ,comparative strength,specialization and spatial economy, We analyse the formation, development and spatial development of financial industry agglomeration from the angle of three dimensionality of time ,layer and space. We also analyze the effect of financial industry agglomeration on financial industry development .This section include four chapters . The 2nd chapter is the analysis from the general factors.The formation factors mainly include agglomeration factors and location selection factors and they both determine the formation of financial industry agglomeration. Meanwhile , financial industry agglomeration has its unique feature, that is ,financial sector is a sector that produce specialized information, which determine the difference between financial industry agglomeration and industry agglomeration.The third chapter study the development of financial industry agglomeration. As the evolvement of industry specialization have three stages: inter-industry ,intra-industry and intra-products ,the financial industry agglomeration develop from specialization organization, integration organization to flexible specialization organization. And as the specialization deepen to the layer of value chain, financial industry agglomeration develop from institution agglomeration to function agglomeration. On one side , through the form of agglomeration of headquarters, contolling the higher tache of the value chain and own the strong control and management function.On the other side, through the form of dummy enterprise and strategy alliance, financial industry agglomeration organization form important nodes of global specialization. By the oriental network ,they perform the industry fuction as a whole. From the exterior form, financial industry agglomeration has three phases of arise ,development and mature, three layers of regional , country ,and international financial centre and three distribution forms of pure agglomeration,industrial complexity,social networks.The fourth chapter analyse the spatial distribution of financial industry agglomeration.the theory basis are core-periphery theory and gravity model. In general , financial industry agglomeration include four shapes of Mashall's new industry district, core-periphery district , secondary planet platform district, and government depended district. The geographical distribution of offshore financial centre has the feature of strong time-zone character and geography character.There are five community of offshore financial centre across the world and they form a whole offshore world financial market. The geography distribution of these offshore financial centres represent core-periphery shapes and can be devidied into core circle and periphery circle.The fifth chapter is financial industry agglomeration and financial industry development. It mainly analyze the effect of financial industry agglomeration. The research angle is the role of financial industry agglomeration in the financial industry development .The first section of this chapter study the definition , feature and development stage of financial industry,the second section analyze the effect of financial industry agglomeration on different layers of financial industry development, including scale development ,industry structure improvement and regional space structure.The third part is experience analysis. The financial industry agglomeration of foreign coutry has a long development process and it is in the mature stage .There must be a lot of experience in it .This part include the sixth charpter, in which we sum-up the devopment experience of financial industry agglomeration of foreign coutries using for the reference of our country.The fourth part is practice analysis. This part include two chapters. In the seventh chapter,we study the status quo of the financial industry agglomeration in our country, including financial industry agglomeration degree,spatial distribution and affection factors.The affection factors are from the former theory analysis. In the eighth chaper, we bring about some development strategy and policy suggestion for financial industry agglomeration of our country. For the financial industry agglomeration formation, location choice and evolvement ,this paper bring about three strategies of specialization, competitive distribution and informalization.meanwhile ,this paper suggest that we should reform the financial system and improve the financial policy to promote financial industry agglomeration.This paper takes efforts to do the following innovations .First, this paper provide a three-dimensional theoretical framework to catch on the immanent mechanism of financial industry agglomeration. Secondly, we analyze the endogenetic and exogenous competitive strength factors ,which is a systematic sum-up of the main factors of financial industry agglomeration. Thirdly ,according to the financial industry character, we analyze the different location choice of different financial business. Financial industry's character of producing specialized information determine the unique feature. Fourthly, we carefully study the impact of information technology on financial industry agglomeration, including the impact on financial industry agglomeration degree , agglomeration shape, and agglomeration functional style. Fifthly ,this paper do some elementary research on the spatial distribution of financial industry agglomeration . Based on the core-periphery theory and gravity model, we analyze the agglomeration shape and practice exhibition. Sixthly ,this paper do comprehensive research on the financial industry agglomeration of our country,including agglomeration degree, agglomeration distribution, main factors.Finally , more work must be done in the future about this paper, such as the the spatial distribution and practice exhibition of financial industry agglomeration needs deepening, the practical analysis and empirical analysis of financial industry agglomeration of our country needs skilled work,etc. These problems should be perfected in the future.