Influence Of Financial Liberalization Reform On The Allocation Efficiency Of China’s Credit Resources

Perfect financial system is the cornerstone of sustainable economic development in China.Financial liberalization,as an effective model to crack down on financial repression issues and promote the development of the financial system,has become an inevitable choice for the global,especially developing countries,to promote financial development.In the period when China’s current economic growth is slowing down and various reforms have been difficult to overcome,the financial system reform with financial liberalization at the core has played an important role in the transformation and development of China’s economy.From a theoretical point of view,the classic development finance theory shows that effective financial liberalization reforms improve the resource allocation function of the financial system by removing price controls and reducing market access barriers.Then,China has implemented the path of gradual financial liberalization reform for quite a long period of time.Whether China’s financial liberalization reform has effectively improved the efficiency of resource allocation in the financial system is obviously an important subject worthy of study.Based on the theory of financial liberalization and the allocation of credit resources in the financial system,this paper studies whether the reform of China’s financial liberalization has increased the efficiency of the allocation of credit resources in the financial system,so as to scientifically evaluate the effectiveness of China’s financial liberalization and rationalize financial liberalization policies.Provide useful inspiration.First of all,through the analysis of the relationship between financial liberalization and the efficiency of credit resource allocation,we have studied the theoretical relationship and mechanism of financial liberalization and allocation of credit resources.Second,we have analyzed the development status of China’s financial liberalization process and China’s financial liberalization.Thirdly,by combing the theoretical relationship between financial liberalization and credit resource allocation efficiency,a model is established to analyze the influence of financial liberalization on the credit resource allocationefficiency,from interest rate liberalization(price path)to business scope.Liberalization(structural approach)and access to financial institutions(competitive approaches)are used to analyze the effect of financial liberalization on capital allocation efficiency to the financial system.Finally,in light of the specific conditions of China’s financial liberalization reforms,we propose to improve finance Liberalization advice.The results of the study indicate that the degree of financial liberalization in China has basically risen steadily.However,the reform of China’s financial liberalization has not substantially improved the function of the financial system’s allocation of resources.The effect of China’s financial liberalization reform is more manifested as a scale effect rather than a configuration.effect.The research conclusions show that the reform of China’s financial liberalization is not complete,and it deviates from the expectations of classical financial development theory.An important reason for this result is that the reform quality of China’s financial liberalization process is not high,financial structure is distorted,and administrative Interventions and other factors exist.Based on the above researches,this paper came up with some policy suggestions for the promotion of China’s financial liberalization reform to promote the efficiency of the allocation of credit resources.First of all,eliminate financial risks and lay the foundation for financial liberalization.Then,we continued to promote the market-based reform of interest rates,and to optimize the role of interest rates in optimizing the allocation of credit resources.Third,continue to implement the reform policy of liberalizing capital flows,and the city is in line with the international capital market.Finally,strengthen financial supervision and ensure the smooth progress of financial liberalization.In the final analysis,the reform of financial liberalization should be more comprehensive and in depth,emphasizing that any aspect of it is not conducive to the development of financial liberalization,thereby hindering the sustainable development of the economy.