Research On The Empirical Analysis And Countermeasure Of Chongqing's Constructing Financial Center In The Middle And Upper Reaches Of The Yangtze River

Finance is the core of modern economy,and the real economy is the foundation of the financial industry.China's economic development has entered a new normal state,the economic structure is continuously optimized and the power of development is continuously alternated.The construction of regional financial centers is an important step in attracting financial institutions to gather,promoting financial intermediation,improving the efficiency of the financial sector and increasing their financial competitiveness.It is also a major decision-making deployment for major cities to promote economic development.Chongqing which has a prominent regional advantages can actively integrate into the national development strategy including the B&R strategy,the Yangtze River economic zone,the western development and so on.And Chongqing take an important role in national regional development and opening to the outside world.The related parties in Chongqing has been exploring the regional financial center construction for many years.At present,the construction of regional financial center in Chongqing has made some progress.The financial institutions in Jiangbei CBD are relatively concentrated,the Jiefangbci CBD financial disatrict financial market service system is more perfect,while Liangjiang New District is becoming a financial background service center,marbles stone is becoming a small and medium-sized enterprise financing service center which will greatly enhance the concentration,radiation and driving force of financial resources in Chongqing.However,there are still some problems in the construction process.The purpose of this research is to provide theoretical support for the construction of the financial center in Chongqing,to analyze the existing problems and put forward realistic conntcrmcasurcs and suggestions.Firstly.it gives an overview of the theoretical basis of the regional financial center,including the concept,function,basic condition,formation pattern,financial competitiveness and financial agglomeration and radiation related theory of financial center.Secondly,it elaborates the present situation of financial development in Chongqing.Through the data analysis of financial structure,financial market,financial institution and financial ecology of Chongqing,Chengdu and Xi'an,this paper compares the realistic conditions of establishing regional financial center in Chongqing.Chengdu and Xi'an.Then,it analyzes the feasibility of establishing regional financial center in Chongqing.Mainly divided into three parts:The first part constructs the index system to evaluate the financial competitiveness,and uses the factor analysis method to evaluate the financial competitiveness of 17 cities including Chongqing.The second part uses the Wilson model to calculate the financial radiation radius of Chongqing and other cities in the past five years,and analyzes the trend of financial radiation in Chongqing.In the third part,taking the Chongqing and other cities in the middle and upper reaches of the Yangtze River as an example,constructing the VAR model,cointegration and impluse response function to analyse the influence of Chongqing's financial center to other cities,and to explore the potencial of influence of Chongqing' financial center in the future.Then,through the analysis of the actual basis and feasibility of constructing the financial center of the middle and upper reaches of the Yangtze River in Chongqing,the paper finds out the main problems in the construction of the regional financial center in Chongqing.Finally,on the basis of discovering the related problems,this paper puts forward some countermeasures and suggestions to build the middle and upper reaches of the Yangtze River financial center in Chongqing.In this paper,we mainly use factor analysis,Wilson model,VAR model,statistical analysis and other methods.The conclusion is that Chongqing has a good realistic foundation for building the financial center of the upper and middle reaches of the Yangtze River.However,Chongqing faced some problems and challenges which includes that the headquaters economy is not obvious,the financial market system is not perfect,Chengdu and Chongqing financial development convergence effect if remarkable and the financial center regional influence is limited.The countermeasures proposed in this paper are;Identify the positioning of financial centers in the region,build a full license financial system,make the financial deveolpment through the financial innovation,a correct understanding of Chengdu-Chongqing financial competition and cooperation,build a clearing-type financial center,to improve the support of corporate financial institutions,optimize the overall structure of financial markets,create financial coordination and development mechanism.