Research On The Impact Of The National Financial Reform Pilot Zone On The Construction Of Qingdao Wealth Management Center

wealth management centre is the transformation and upgrading on the basis of traditional financial center,with asset management as the main task.Since China's Reform and Opening,along with the sustained and rapid development of its economy,the wealth of domestic residents and enterprises has increased rapidly,which has led the country into huge demand of wealth management.All kinds of wealth management institutions,innovative products and services are also emerging.The establishment of wealth management centre has become the inevitable trend of the development of wealth management business in our country.In February 2014,the State Council agreed to establish an experimental area for comprehensive reform of wealth management finance in Qingdao.Qingdao has become an important experimental platform for national financial reform and opening up.After being approved,Qingdao grasps the important opportunity of deepening the reform in the financial field,constantly explores the new mode and new way of the development of wealth management,gives full play to the comprehensive advantages of natural environment,economic base,cultural background and so on,so that the financial industry characterized by wealth management grows rapidly.Qingdao ranks 31 st in the 24 th issue of the Global Financial Center Index report released in 2018.Accepted since 2016 After entering the index,Qingdao has been selected as the top 50 of the global financial center for the fifth time in a row.In addition,Qingdao ranks fifth in China in the 2018 China Wealth Management Development Index report.The paper focuses on the impact of the national "golden reform" license on the construction of Qingdao wealth management center.First of all,it defines the concept of wealth management and wealth management center,introduces the main financial theories involved in wealth management,and believes that the formation of wealth management center and financial center are the result of financial elements gathering.Then it analyzes the elements of wealth management center from four aspects: financial market,financial institutions,financial talents and financial ecological environment This paper compares the development models of resource driven and government driven wealth management centers.On this basis,the development process,main practice and development status of Qingdao wealth management center construction are sorted out and analyzed,and the development achievements of Qingdao in building wealth management cluster area,realizing the aggregation of wealth management institutions and establishing the characteristic factor market of wealth management are summarized.In order to objectively reflect the impact of the national "gold reform" on the construction of Qingdao wealth management center,a regression analysis was conducted on the construction of Qingdao wealth management center before and after the approval of the national "gold reform" pilot area.Taking the approval of Qingdao National Gold reform pilot area and the implementation of relevant policies as the core explanatory variables,this paper makes a regression analysis of the development of Qingdao wealth management center before and after the approval of the national gold reform pilot area.In terms of methods,two dummy variables of time and city are introduced,and the "double difference" method is adopted to deal with them.Jinan and Yantai are taken as control groups to make a counterfactual reference to analyze the impact of the approval of the national financial reform Experimental Zone on the construction of Qingdao wealth management center.The empirical results show that the approval of the national financial reform pilot zone in2014 and a series of subsequent policies are of positive significance to the financial development,financial agglomeration and the construction of Qingdao wealth management center.The virtual variables related to the "gold reform" introduced by regression,especially the interaction term dqd2014,have a positive coefficient and are statistically significant,which reflects that after controlling other factors,the financial correlation rate of Qingdao after the 2014 annuity reform is more significant than that of Jinan and Yantai,indicating that the national gold reform pilot area has been approved and relevant policies have some effect.On this basis,this paper analyzes the main problems existing in the construction of Qingdao wealth management center,such as the imperfection of financial market and wealth management system,the lack of competitiveness and innovation of financial institutions,the lack of local wealth management talents,the low degree of diversification of financial ecological environment,and the immature wealth management business in China as a whole,the lagging wealth management awareness of residents,and the inter city Increased competition,etc.It is proposed that Qingdao should learn from the successful experience of Singapore,Hong Kong and other wealth management center cities,based on its own endowment conditions,seize the opportunities and key links of the development of wealth management industry,clarify the development ideas and key areas,explore the characteristic development path of wealth management,and propose to undertake the incremental resources of wealth management industry,build a wealth management trading market system,and plan wealth Relevant policy suggestions include the spatial distribution of management characteristics,the improvement of wealth management personnel training system,and the promotion of the joint development of wealth management industry.