| Regional Financial Integration is an important engine for the development of Economic Integration.With the coordinated development of Beijing-Tianjin-Hebei becoming a national development strategy and the establishment of Xiong'an New District,the financial support are becoming increasingly demanded on all the related elements,like economic restructuring,industrial transfer,new urbanization,infrastructure construction,and environmental protection,etc,which requires the three regions to actively co-ordinate financial resources,strengthen financial cooperation,and give full play to the supporting role of financial integration in promoting the coordinated economic and social development of Beijing-Tianjin-Hebei.However,due to the long-term unbalanced development of the Beijing-Tianjin-Hebei region,there is some disproportion among the three places on the development level of the financial industry.The lack of regional capital circulation leads to the mismatch of resources and the sluggish process of Regional Financial Integration.Hereby,with the Beijing-Tianjin-Hebei Regional Financial Integration Development as the starting point,this paper firstly introduces the research background,related concepts and theories,and focuses on the mechanism analysis of Regional Financial Integration.Then introducing the development status of Beijing-Tianjin-Hebei Regional Financial Integration,discussing the historical evolution of Beijing-Tianjin-Hebei Regional Financial Integration,and analyzing the current reality and related problems of Beijing-Tianjin-Hebei Regional Financial Integration from the perspectives of the governments,financial institutions,and monetization rates.Then introducing the currently and widely used method of financial integration evaluation and analyzing the level of Beijing-Tianjin-Hebei Regional Financial Integration by a savings-investment(FH)model.Moreover,through comparing it with typical regions of domestic and foreign financial development,a conclusion is made that the level of Beijing-Tianjin-Hebei Regional Financial Integration is relatively low and in the stage of primary collaborative development.Afterwards,analyzing the restrictive factors toBeijing-Tianjin-Hebei Regional Financial Integration from the perspectives of financial scale,financial efficiency,financial development gradient,and financial development contact.Finally,based on the restrictive factors aforesaid and the experience of financial integration in other domestic regions,the author proposes optimization proposals for the Beijing-Tianjin-Hebei Regional Financial Integration from the aspects of regional policy coordination,financial market construction,benefit-sharing mechanisms,and financial innovation. |
