Research On My Country's Economic Financialization

Under the economic globalization situation,China has promoted the rapid growth of the financial industry through financial deepening reforms.Just a few decade,the proportion of profits in the financial industry has increased significantly.China’s economic financialization is mainly reflected in the growth of the financial industry and the expansion of its business scope and the financial investment behavior of non-financial listed companies at the micro level.Entity enterprises are the main pillars of China’s economy.However,in recent years,it has been found that the profit margins of China’s main enterprises’ main business are generally reduced.At the same time,more enterprises are found to actively participate in financial activities.This financial trend of entity enterprises is in the critical period of economic transformation.China has buried a safety hazard.In particular,the outbreak of the global financial crisis has caused many domestic and foreign scholars to re-examine the economic financialization.Whether it is from the macro level comparison or the micro level to study the impact of non-financial enterprise economic financialization,financial security provides a certain theoretical reference.This paper refers to the expression of economic financialization by scholars at home and abroad,sums up the meaning of economic financialization suitable for social conditions with Chinese characteristics,and based on the added value of financial industry in China and emerging market countries,OECD countries and the European Union from 2000 to 2017.The comparison of the proportion of national GDP reveals the extent and quality of China’s financial industry development and explores the reasons.At the micro level,the degree of financialization of non-financial enterprises in China is measured from the indicators of non-financial enterprise assets,liabilities and profits.From the CSMAR economic database,the proportion of non-financial corporate financial assets in total assets(fa)and finance is extracted.The ratio of liabilities to total liabilities(fdr)and the proportion of financial profits to total profits(fap),using stata to give more reasonable weights to the three dimensions,measuring the degree of economic financialization of non-financial listed companies in China,and discovering the real estate industry finance The degree is the highest.According to the degree of economic financialization of non-financial enterprises in China,based on the existing literature,re-join the operating debt ratio of enterprises and the cash flow generated by operating activities to analyze the factors affecting the financialization of non-financial enterprises in China,and analyze their significance..The study finds that the development of China’s financial industry is divorced from the real economy,which means that China is losing the foundation of financial stability and sustainable growth,indicating that the possibility of China’s financial risks is increasing,in order to curb the impact of financial risks on China’s economy.At the end of the article,he gave certain suggestions.He hoped that the government could further improve financial supervision,improve the efficiency of the financial industry,and create a sound financial environment for the healthy development of China’s real economy.