Fujian Province, The City's Financial Competitiveness Analysis

The importance of finance in the economy has already been proved by the history of Economic development and The Theory of Economic Growth. As the blood and arteries of Operating and developing the contemporary cities.Financial competitiveness is the important part of the city's comprehensive competitiveness for a country (or area). It is the high positive correlation between a country (or region)'s competitiveness and financial competitiveness, the higher financial competitiveness, the higher level of the overall competitiveness.And it is increasing as the finance more and more import. I believe that with the quick process of opening the financial markets ,Financial competitiveness will play a more prominent role in city, regional and national economic development. Therefore, analyzing and researching the financial competitiveness of the city is significative.Fujian Province is an important part of The west coast of the strait economic zone. To seizing the opportunity to promote the faster economic development of Fujian Province, we must know the status and development trend of financial developmen in the cities of Fujian Province, Understanding their advantages and disadvantages in the financial development then improving. Let the financial development promoting economic growth. In addition, " The Twelfth Five-Year" plan also pointed out that China's financial market structure must be optimized, therefore, the research of the financial competitiveness of the city in Fujian Province is significative. It helps improve the competitiveness of the financial system of the city, in-depth research and broaden and enrich the financial competitiveness of the city, facilitating a strong financial development strategies targeted to promote the province's economy development more better and faster .In this paper, take nine cities in Fujian Province for a sample of, establishing index system to evaluation the financial competitiveness of the cities, with the actual situation, the evaluation index system is divided into two major categories: indicators and explanatory indicators, explanatory indicators have four types of competitive:economic, technology, opening up and infrastructure. Through the collection, collation data of 2004-2008 for all indicators. First , using factor analysis to analyse the financial competitiveness of cities and rangking, Xiamen,Fuzhou is NO.1,NO.2,Quanzhou is NO.3, And the others is in the bihind, then analyze the development of cities. then use the financial competitive score for clustering variables ,doing the cluster analysis, dividing the level of financial competitiveness of the cities. Xiamen,fuzhou is in the first level, Quanzhou is in the second, and the others is the third one. Finally, conclusions, combined with factors affecting city financial competitiveness, according to the actual situation, put forward the views of financial competitiveness upgrading, hoping to promote the province's economy better and faster development.