An Empirical Study On The Competitiveness Of Financial Industry Of Shandong Province

With the continuous development of social economy, the relationship between various sectors of the national economy is growing. The financial industry,as a bridge between the various departments of the national economy, is providing funding support services and capital for other sectors, and is more and more important in the position in the whole national economy. Finance is the foundation of the development of market economy, and play an important role in the social and economic development. As a major economic province in China, the development of the financial industry in Shandong province has been the existence of big but not strong situation, the relatively backward competitiveness of financial industry greatly restricted the healthy development of upgrading the industrial structure of Shandong province and the whole national economy.Based on the theory analysis and the results of previous studies, this paper analyses the financial comprehensive competitiveness of Shandong province by using factor analysis method from financial development scale, financial development environment index, economic relevance indicators of financial development. By comparing the relevant indicators of Shandong province and the other developed provinces,we found that the current financial industry competitiveness of Shandong province is at a relatively low level, mainly with low efficiency and the whole national economy system not deep enough. Through the analysis of the influence factors of Shandong financial industry competitiveness, we verify the scientific and rational evaluation index system. Based on the conclusions of empirical research, the article put forward policy recommendations:to create a positive financial industry development policy environment; to increase the income of urban and rural residents and consumption level; to improve the ability of innovation in financial industry; to strengthen financial talents training and introduction; to strict financial supervision; to guide the development of diversified financial industry.