The Analysis Of International Competitiveness Of China Financial Service Trade And Its Influencing Factors

With the development and deepening of global economy and free trade, the financial service has been one of the most significant industries in the national economy. The competitiveness of financial service trade has become an important symbol of national comprehensive competitiveness as well. While, the small scale, weak foundation,and persistent trade deficit of financial service trade condition were faced in China. Based on a stable financial system, how to maximize the benefits from financial service trade, and to bring a profoundly significance to trade which is valuable to analysis for the sustainable development of economy in our country.In this paper, the content of the arrangement is as follows. First of all, we introduced the research background and significance, reviewed the literature of financial services trade competitiveness, and clearly described the research ideas, content and the overall framework of the article. Based on that, we described the current development of China’s financial service trade, from the development of import and export trade in financial services, the internal structure and the proportion of its trade deficit expanded in detail.Then, based on the fifteen years import and export data(2000-2014) of financial service trade, to build a comprehensive evaluation index system of the competitiveness of financial service trade, including international market share(M), trade competitiveness index(TC),revealed Comparative advantage(RCA) index, etc. Not only were their own fifteen-year longitudinal comparison, but also in contrast to the horizontal angle from China, developed countries advantaged in financial services trade and the BRIC countries. Based on the understanding and analysis above, according to the theory of Porter Competitive Advantage of Nations,the theory Diamond model, this paper made the qualitative and quantitative analyze from the production factors, demand factors, related and supporting industries, organizational strategy and competition, as well as government and opportunities etc. and discussed the specific meaning and influential of various factors.Finally, based on above analyzed outcome, we can put forward targeted recommendations and Countermeasures to promotion China international competitiveness of financial service trade.Based on analysis of data from 2000 to 2014, we reached the conclusion that:deposits of financial institutions funding sources, financial sector employees in urban units,the number of Internet access, urban residents per capital disposable income, financial institutions use the loan funds total exports of goods trade, the secondary industry, GDP,the deposit reserve ratio, market openness, FDI have the co-integration relation with theinternational competitiveness of the financial services trade, while Market concentration and international competitiveness of financial service trade inversely correlated. Therefore,this paper gave suggestions about how to enhance the international competitiveness of China’s financial services business strategies from the following eight aspects, namely: to expand the scale of capital financial services institutions, attaching importance to training of highly qualified financial professionals, strengthening the construction of information technology for the financial services industry, enhancing the domestic and international demand for financial services trade, optimizing related industries to support the financial services sector, strengthening the innovation capacity of financial service institutions, to achieve a wide range of financial services Mixed mode, strengthening the government’s trade in financial services and regulatory support.