Research On The Impact Of The "Belt And Road" Initiative On China’s Urban Financial Ecological Environment

As China’s economic development has entered the new normal,how to achieve stable economic growth and balanced and sustainable development of regional economy has become an issue worth thinking about.The proposed "Belt and Road" Initiative complies with the development trend of economic globalization,deepens the international and regional cooperation between our country and the world economy,and is an important measure of interaction between our country and the world economy.With the implementation of the "Belt and Road" Initiative,the scale of Chinese financial market is constantly expanding.In order to ensure the stable development of the financial industry,the focus is to promote the balanced development of the financial ecosystem and improve the level of financial ecological environment.Therefore,it is of great research value to study whether the "Belt and Road" Initiative can improve the level of urban financial ecological environment,promote the regional economic and financial construction and ensure the steady development of the economic system.First of all,this paper reviews the relevant researches on the "Belt and Road" Initiative and the financial ecological environment,defines the concepts of the two,combines the theory of unbalanced development and the theory of financial ecology,analyzes the mechanism of the "Belt and Road" Initiative affecting the financial ecological environment of Chinese cities and puts forward the research hypothesis.Secondly,factor analysis method was used to measure 287 urban financial ecological environment indicators during 2010-2020,and analyze the current situation of Chinese urban financial ecological environment.Finally,the double difference model and mediation model are constructed to test the impact of "Belt and Road" Initiative on urban financial ecological environment and its action path.The research results show that: first,compared with the cities that do not participate in the "Belt and Road" Initiative,responding to the "Belt and Road" Initiative can improve the financial ecological environment level of the cities.Second,the impact of the "Belt and Road" Initiative has a time lag.As time goes by,the impact of the policy on the urban financial ecological environment gradually increases.Third,the "Belt and Road" Initiative can promote the development of urban financial ecological environment by improving the city’s foreign trade,financial development and soft environment.Fourthly,comparing the cities in the eastern,central and western economic belts,the "Belt and Road" Initiative can positively promote the financial ecological environment of the cities in the central and western economic belts.In conclusion,this paper enriched the research related to the "Belt and Road" and financial ecological environment,proved that the "Belt and Road" Initiative can promote the comprehensive development of Chinese cities,and provide new theoretical reference for promoting the "Belt and Road" development and regional construction.