Research On The Financial Support,innovation With The Sustainable Development Of The Third Growth Pole

May 2006, the development and opening of Tianjin Binhai New Area into the overall national development strategy layout which is undoubtedly a rare historical opportunity to Tianjin. If Tianjin want to make Binhai New Area play the third pole of economic growth in China which is largely dependent on financial support and innovation. And, the global financial crisis broken out in 2008 makes financial innovation once again become the focus of attention. Therefore, researched how to make financial innovation as a tool to build a modern new financial service system in Tianjin which becomes the key to coordinated development of Tianjin economy, and this is the main content in this paper. In the global financial crisis, the context of whether it is necessary to persist in Tianjin financial innovation, and how to carry out the activities of financial innovation which not only has instructional purpose but also has a strong practical significance to built financial market and new financial service system in Tianjin.This paper bases on the experience of other related documents for reference, used of unit root test, cointegration test, Granger causality test, endogenous financial and economic growth model to test the relation of financial development and innovation and economic growth in Tianjin. The results show that between financial development and economic growth, and between financial innovation and economic growth are both relevant in Tianjin, they are promoted each other in some extent, but interaction is not significant. Moreover, financial innovation can promote economic growth by affecting the level of financial development, promoting financial deepening and accelerating changes in the financial structure, but not obvious. Shows that the efficiency of city financial innovation is not high, sometimes even lagging behind economic growth. Practice shows that the full draw of domestic experience to the promotion of economic growth is essential. Therefore, in this paper we compare the financial development models in Tianjin and Guangdong and Zhejiang, and combined with the causes of the financial crisis, systematic analysis the relation of the financial crisis and financial innovation, and describe the risk prevention measures of Binhai New Area in the process of financial innovation. On that basis, the paper poses policy recommendations on how to build a new financial service system in Tianjin, and hope to have implications on the financial innovation in Tianjin Binhai New Area.