Construction Of The Western Financial Center In Chengdu Countermeasures

In February,2010, Sichuan Provincial government issued the Construction Plan to Build Chengdu into the Financial Centre in West China and plans to "adopt a different way from such national financial centers as Beijing and Shanghai to build Chengdu into the financial center in West China as well as an important hub radiating from other national financial centers, and to provide powerful financial support to build a western economic highland that is whole country-oriented, West China-radiated and internationally emerged." As early as 1996, Chengdu Municipal Government also set the goal of building Chengdu into the West China financial center. Viewing the research at home and abroad, we can easily see that the financial development and economical growth are mutually promoted. China's national strategy to develop western regions is an opportunity to develop the backward western regions. Building Chengdu into the West China financial centre will greatly promote the western regions development, and play an exemplary role in the economic development of Sichuan, even of West China.This paper consists of five chapters. Chapter One firstly makes a study of the research fruit at home and abroad, as well as the relation between financial development and economic growth, then draws the conclusion that financial development and economic growth are mutually promoted, then elaborates on the definition and function of regional financial centre, and finally demonstrates the necessity of building Chengdu into a West China financial centre. Chapter Two analyzes the conditions, foundation and the probability for Chengdu to build a financial centre. Chapter Three makes a selective analysis of the existing problems and adverse factors for Chengdu to build a financial centre: fierce competition with Chongqing and Xi'an as well as other problems such as Chengdu's lack of clear policy guidance, Chengdu's unbalanced financial development, and scattered financial resources etc. Aimed at the adverse factors and problems, learning from other advance experience and drawing lessons from other failures, Chapter Four and Chapter Five focus on the measures and countermeasures taken to build Chengdu into a West China financial centre from aspects of the planning and reallocation of financial resources, the improvement of financial environment, the assembling of financial organs and the introduction of financial talents etc.The main contribution of this thesis:currently, the academic circles abroad have already built a complete theoretic system in the construction of financial centers and the function of financial centre to boost economic growth; the academic circles in China have also achieved fairly comprehensive academic successes in building financial centers in Beijing, Shanghai, Shenzhen and Chongqing; the academic circles in Chengdu have made preliminary research on the probability and comparative advantage in building Chengdu into a West China financial centre; however, there are few researches on the existing problems and countermeasures of building Chengdu into a financial centre in West China. Learning from other advance experience home and abroad, drawing lessons from their failures, taking into consideration the status quo and the external factors for Chengdu to build a financial centre, maximizing favorable factors and minimizing unfavorable ones, this thesis is aimed at making some useful thinking about the countermeasures taken in the process of building Chengdu into a financial centre.