| Finance is the core of the modern economy.The more developed the financial industry is,the stronger the penetration of financial activities to regional economy and the faster the regional economic growth will be.Since the reform and opening up,finance has played an important role in accelerating China’s reform and opening up,supporting rapid economic growth,and supporting the development of strategic industries.Sichuan is the region with the strongest economic strength in western China.Sichuan’s financial development has a very important role in promoting Sichuan’s regional economic development.Taking Sichuan Province as an example,this paper analyzes the status quo of Sichuan’s financial development,conducts a quantitative analysis of the regional financial development level in Sichuan,conducts empirical analysis on the level of financial development in Sichuan,to promote the healthy development of regional finance is of great significance,explore factors that promote regional financial development and coordinates regional financial development in China.On the basis of combing the existing research literature and the relevant theories of financial development,firstly,this paper analyzes the status quo of Sichuan’s financial development,mainly from the development of the scale and efficiency of the banking,securities and insurance industries in Sichuan Province;Then this paper have established a comprehensive evaluation index system for regional financial development,and used factor analysis to measure and rank the financial development levels of 21 cities in Sichuan Province from 2000 to 2017.Furthermore,the paper studies the level and characteristics of Sichuan’s financial development.Based on the analysis of the status quo of Sichuan’s financial development level,this paper establishes a panel model to empirically analyze the influencing factors of Sichuan’s financial development level.Finally,based on the results of empirical analysis,this paper proposes countermeasures to further improve the level of financial development in Sichuan.The main conclusions and points of this paper include the following aspects:1.From the overall perspective of Sichuan Province,the number of financial industry organizations and the scale of the industry have steadily increased.The scale of the banking,securities,and insurance industries has increased year by year,but the scale of financial development and economic aggregates in Sichuan are not matched well across the country,because the total amount of finance is lower than the economic aggregate.From the status of the scale of banking assets in the scale of the province’s financial industry,it can be seen that the financial development of Sichuan Province is based on indirect finance.In terms of financial efficiency,compared with the whole country,Sichuan’s financial development efficiency is relatively low.The results of factor analysis from the regional financial development level in Sichuan show that the rankings of regional financial development in Sichuan in 2017 are as follows:Chengdu,Mianyang,Suining,Yibin,Leshan,Luzhou,Panzhihua,Deyang,Nanchong,Meishan,Neijiang,Ya’an,Zigong,Guangyuan,Dazhou,Bazhong,Ziyang,Aba,Liangshan,Guang’an,Ganzi.2.This paper establishes the panel data regression model to empirically analyze the influencing factors of the regional financial development level in Sichuan,and draws the following conclusions:Sichuan’s GDP,urbanization rate,consumption level,fixed asset investment,government behavior,scientific and technological level,informatization level and marketization have significant positive effects on Sichuan’s financial development level.Among them,Sichuan’s economic base reflected by GDP has the greatest impact on regional finance.Economic development is the foundation of financial development,the stronger the regional economic foundation,the higher the level of regional financial development.The advancement of urbanization will increase the diversified demand for finance,thus promoting the development of regional finance.Giving full play to the guiding role of the government and fully releasing the vitality of the market economy will play a positive role in regional financial development.Increasing investment in fixed assets can not only strengthen the foundation of the real economy,but also increase financial demand and promote financial development.The improvement of residents’ consumption capacity will also increase financial demand and promote financial development.Increasing investment in scientific research and technology will help enhance the strength of scientific research and technology,and enhance the ability of financial supply.Accelerating the development of informatization level can provide a more convenient channel for the circulation of financial resources and promote the development of finance.The advancement of marketization will enable the market to play a decisive role in the allocation of financial resources and improve the efficiency of financial development.In view of the above status quo and empirical conclusions,in order to promote the sustainable and healthy development of regional finance in Sichuan,Sichuan province should strengthen financial innovation and pay attention to the efficiency of financial development;give full play to comparative advantages and promote the coordinated development of regional finance;open wider to the outside world and expand financing channels;improve the financial market and promote the development of a market-based financial system;Consolidate the foundation of regional economy and boost the development of regional finance;vigorously promote the urbanization process to provide fertile soil for financial development;optimizing government functions and establishing a long-term financial development mechanism;improve the level of consumption and promote the development of green finance;increase investment in fixed assets to strengthen the foundation for financial development;strengthen the level of scientific research and technology to promote high-quality development of finance;promote the development of information technology to achieve efficient development of finance;continue to promote market-oriented reform and promote the flow of financial elements;pay attention to talent cultivation and introduction,and increase the construction of financial professionals. |
PDF Full Text Request