Research On The Reform Of Financial Support System For China’s New Urbanization Development

At present,China’s development concept has changed from "three synchronization" to "four modernizations synchronization".In recent years,although the level of new urbanization has risen,there are also many problems.There are still some problems such as lagging urbanization,insufficient urbanization and insufficient integration of information and other three technologies.The state has paid more and more attention to the construction of new urbanization,and has risen to the strategic level.The eighteen Party Congress,the central economic work conference,the the fifth Plenary Session of the 18 th CPC Central Committee,the nineteen and the China rural work conference put forward the importance of steadily promoting the coordinated development of new urbanization in China’s economy,society and four modernizations.Financial support,as an important driving force for the development of new urbanization,is the core task of the state’s implementation of regional economy,but the financial support for the development of new urbanization in China.There are still many problems in the holding system.For example,new urbanization and financial support do not match supply and demand,regional differences are large,financial support organizational system is not perfect,direct financing ratio is low,angel investment and venture capital and bond market development are slow,credit guarantee system,government support is not enough,and financial legal system is imperfect,which hinders the development of new urbanization.In addition,the NPC and CPPCC held several discussions on the structural reform of the financial supply side in 2019.The people’s Bank of China and other departments elaborated on the promotion path several times in order to provide some support for financial reform.Therefore,the reform of financial support system for new urbanization is very important.It needs not only the tilt and support of relevant national policies,but also the concerted efforts of local governments and all sectors of society to promote the rapid and coordinated development of regional economy and society,and gradually alleviate various problems in the development of new urbanization.Based on the existing literature,based on the summary of the theoretical knowledge of new urbanization and financial support and the analysis and discussion of their interaction mechanism,this paper analyzes the development of new urbanization and financial support in China under the background of the four modernizations,and selects 1998-2017 yearsrelated index data to build a comprehensive index system of new urbanization and financial support,based on the national and provincial level.Using the entropy method to conduct a comprehensive measurement and analysis of the development of the two countries,using the VAR model and the panel data model to conduct an empirical analysis of the interactive development between the two,it is found that there is an interactive mechanism between the new urbanization and financial support.From the national perspective,the 4 aspects of financial support have a catalytic effect on the new urbanization,and the new urbanization has a positive effect on financial support,but the feedback effect is not yet,Agglomeration effect and diffusion effect still have a lot of room to improve..Obviously,from the provinces,the gap between the eastern and central regions is obvious,and the interaction mechanism of financial support scale,structure and intensity with new urbanization is more obvious,and financial support efficiency is relatively weak.Combined with the empirical results,we study obstacles to the development of financial support system for new urbanization in China.Finally,we propose a systematic and targeted reform plan for financial support system,that is,build an efficient hierarchical financial network to support organizational system,develop multi-level capital market financing system,build a sustainable debt financing system,build an efficient public-private partnership,and establish and improve financial policy support system and financial supervision system.