Research On The Difficulties And Countermeasures Of Wenzhou Local Financial Reform

Finance is the core of the modern economy, for Wenzhou of SMEs focused and Private financial activity speaking, building a multi-level system of local financial organizations in line with the development of the region is crucial. At the current time of Wenzhou financial reform into the deep water area and crucial period, further promote the comprehensive financial reform is very important for guiding and regulating private capital, and strengthening the real economy of financial services, and promoting economic restructuring and upgrading of Wenzhou. Based on the background, this paper try to study the dilemma of reform pilot area in Wenzhou and how to further promote by using public management theory.Base on the theory of market failure and transaction costs and governmental regulation and Path-dependence of institutional change, this paper try to analyze the results and dilemma of Wenzhou comprehensive financial reform pilot area, and reveal the problems of Wenzhou local financial reform in terms of organizational system about coordination mechanism between departments, regulatory responsibilities, financial professionals, and financial environment about the problem of investment and financing, key areas of reform, imperfect credit system, and analyze its main causes. Combining the gap between this stage progress and the next stage goal, this paper draw lessons from reform experience and advanced practice of other financial reform pilot area, and propose countermeasures and suggestions of breaking through the bottleneck of Wenzhou comprehensive financial reform pilot area.Under the premise of establishing long-term linkage mechanism with the relevant departments, and improve the management mechanism, this paper argues that Wenzhou local government should regulate the active private finance by improving the financial regulatory system and optimizing the environment for financial professionals and giving full play to the role of financial professionals and constructing of social credit system and promoting innovation in all aspects of local financial and guiding to broaden Investment and Financing, to improve the level of development and competitiveness of local financial sector, strengthen financial agglomeration and radiation, and promote healthy and sustainable development of Wenzhou local financial, thus providing a steady stream of energy to revitalize the real economy.