Impact Factors Study About The Construction Of Shanghai International Financial Center

The basis and premise of financial development is economic development, And on the other way round, financial development will certainly enhance the economic development. IFC is the most important symbols displaying the overall strength of a country or region, and the core competitiveness of the city. The formation of a financial center in modern society is dependent on a developed core city of a well- developed country. Moreover, the construction of the IFC can effectively enhance one country’s financial development. In the process of economic globalization nowadays, the competition among countries are actually the competition of economic powers, and the development of finance can give it a guarantee and service. To a great extent, actually, the competition of economic powers is just the competition of IFCs.Seen from the history and global economic current status, one developed IFC always brings great benefit to the country. Therefore, the IFCs construction are all long the most important investment focus of many countries with all of their national strength. Shanghai has the solid basis in history, and since the opening and reform, Shanghai has even realized fast and healthy growth, of which has already been a national finance center, and it still constantly pushes the IFC constructions. Shanghai IFC construction had already been the national strategy since 1992, and China has made the periodic construction targets and detailed strategic plans for it. On the basis of the general IFC competitive power evaluation indicator system, this article combine the theoretical and empirical research methods, firstly, making all around analysis and comparison from international views, about the current status of Shanghai IFC construction, by qualitative and quantitative way. Then, setting up the empirical research indicator system, on basis of that, building a multiple linear regression model for regression testing. At last, the results of the empirical analysis proves the anticipation that the factors of the economic development level, export/GDP, tax income/GDP, M2 Growth rate, are all have outstanding positive direction towards Shanghai IFC development level. Although Shanghai IFC has great achievement about all the specific perspectives for macro economy and market entry etc. It still has big gap compared with other first class IFCs. Finally, this article makes some targeted suggestions that China should further enhance the economic growth and quality, improve the economic freedom and the degree of openness, moderately increase the export scale, improve the finance market and enhance the finance innovation. The government should take more moderate policy guidance, so that to improve the whole financial market institution system, and further strengthen the finance supervision and finance radiation function.