A Study On Financial Investment For The Protection Of Historic And Cultural Cities In China

China has a long history and its ancestors have created a splendid history and culture.As a part of the origin of civilization,cities are the crystallization of the wisdom of their ancestors and precious wealth,which need our protection.In February 25,2014,General Secretary Xi Jinping paid special attention to the protection of historical and cultural heritage in Beijing when he visited the city.Since the promulgation of the law of the People’s Republic of China on the protection of cultural relics in 1982,China’s cultural heritage has been protected for nearly 40 years.Since the regulations on the protection of historical and cultural cities came into force in 2009,the protection of historical and cultural cities has spanned 10 years.In recent years,the protection of historical and cultural cities has achieved fruitful results.The importance of historical and cultural cities has been recognized by more and more people,but there are also frequent problems.From the early over development to today’s imitation and repair of the old,the protection of historical and cultural cities is facing various problems.The protection of historical and cultural cities has a strong spillover,and its protection cannot be separated from financial participation.Therefore,starting from the financial investment in the protection of historical and cultural cities,this paper expounds the current situation of the financial investment in the protection of historical and cultural cities,analyzes the problems,and puts forward relevant suggestions.First of all,this paper defines the relevant concepts,including historical and cultural city,historical and cultural city protection,financial investment,financial investment in the protection of historical and cultural city,and analyzes the theory of financial participation in the protection of historical and cultural city and strengthening the supervision of financial funds,including public product theory,financial decentralization theory,principal-agent theory.Secondly,the paper analyzes the investment status from the perspective of investment scale,investment channels,intergovernmental responsibility division and investment supervision.It finds that there are some problems in the protection of historical and cultural cities in China,such as relatively small amount of investment funds,large regional differences,excessive sinking of investment responsibility,and imperfect investment supervision system.Panel data is used to analyze the impact of investment in historical and cultural cities.In the process of protection,the current financial investment has not fully considered the needs of the whole historical and cultural city.Finally,taking Britain,Japan and Italy as examples,by learning from foreign experience in the protection of historical and cultural cities,this paper puts forward relevant suggestions for the improvement of the financial investment system for the protection of historical and cultural cities in China,including: effectively introducing more social capital,reasonably dividing the responsibilities of governments,integrating the financial investment of various channels,establishing a reasonable performance evaluation mechanism,etc.