Research On The Construction Of International Financial Center In China From The Perspective Of Financial Agglomeration

Since the reform and opening up,China's economy has experienced more than 30 years of rapid growth.Now it has grown into the world's second largest economy.The significance of the currency,RMB,has improved greatly in the world monetary system,but China has not yet owned an international financial center that matches its economic volume and currency status.There are many "black swan" events arising frequently in 2016 world political situation.The most important international financial center like London and New York,their countries had been deeply affected,which for the construction of China's international financial center opened an important time window.China's government departments at all levels for the construction of international financial center have been under planning,Beijing and Shanghai,the two cities with the highest degree of financial agglomeration plan to build an international financial center,but building two financial centers with the same functionality would be redundant and it would harm the overall economic efficiency.How to choose a city between Beijing and Shanghai to build an international financial center is the very urgent matter for China's construction of international financial centers.To solve this problem,this paper approaches it from the perspective of financial agglomeration and is divided into six chapters.Chapter 1.Introduction.This part clarifies the background,the significance of the topic and the research plan.Chapter2.Related concepts and research status.This part makes a combing of the economic theory of industrial agglomeration,lists the common financial center classification methods,discusses the relationship between financial agglomeration and financial center in theory,and reviews the researches of Chinese scholars on financial agglomeration in recent years,As well as on the construction of international financial centers in Beijing and Shanghai.Chapter3.The development of major international financial centers and their financial agglomeration.This paper discusses the development process and financial agglomeration of the two most important international financial centers,and sums up their development experiences,which provides the reference standard for the construction of international financial center in China.Chapter4.The characteristics of Beijing and Shanghai's financial agglomeration and the comparison of the conditions of building international financial center.From the three financial sub-sectors,monetary and financial services,capital market service and insurance,the gathering situations of Beijing and Shanghai are compared,besides,the gathering situations of the two financial exchanges.In which way a comprehensive comparison is made.Compare the supporting policies when financial centers under construction.As well as human resources and the possible factors that might have impact on the urban developmentChapter5.Establish financial agglomeration evaluation system and empirical analysis.Based on the comprehensive evaluation of principal component analysis,the quantitative analysis of the financial industry in Beijing and Shanghai is analyzed quantitatively.Chapter6.Policy recommendations about Beijing and Shanghai build international financial center.Based on results from the qualitative analysis and quantitative research of the previous paper,and the characteristics of the financial industry cluster in Beijing and Shanghai.The conclusion of how to build the international financial center in Beijing and Shanghai is drawn.And it points out the main innovations of this paper,and the shortcomings that can be improved by later researchers.