Research On The Development Difference Of Hubei’s Regional Finance

Hubei Province locates in central China, it is the country’s transport hub and has an important strategic position, Its economic growth rate increased year by year, but compared with the coastal developed cities, there is still a large gap. In2014, the GDP of Hubei Province is2.736704trillion yuan, its’ GDP ranks the ninth in the country, and ranks the second in central region, the gap of regional financial development obstruct economic development in Hubei. The gap of difference regional financial development is formed by different factors. Therefore, Analysis of the characteristics of regional financial differences in Hubei, finding the reasons for the differences and making measures to enable the regional financial balanced development, thereby stimulating the stable, orderly and healthy development of economic.In this paper, according to the geographical location of the Hubei province, it is divided into four regions. In the first, describing the status of the four regional economic development level and the level of financial development, and by building a level of financial development indicator system, using factor analysis and cluster analysis to appraisal comprehensive analysis of the province around the city, and finally use the Theil index measures variance in the four areas of regional differences and differences in the region. The study shows that regional financial gap narrowed in Hubei, where the level of financial development in Northeast Hubei far ahead of other regions, and reducing the gap within the region, the gap between regions is increasing, now four regional financial difference is mainly from the gap between regions, thereby we should focused on solving the gap within the region.According to the results of the empirical analysis, we can promote regional financial cooperation, establish a financial center in Wuhan, use the financial methods to promote the development of industry, establish a multi-level system of financial institutions and financial market system, create a favorable credit environment, and adopt the implementation of financial policies to underdeveloped region and other measures to reduce regional financial gap in Hubei.