On the Construction of a Modernized Financial Ecosystem in China and its Regional Differences
In October 2023,China first put forward the strategic goal of building a financial power,and the construction of a modernized financial ecosystem is an important condition for achieving this goal.The entropy weight method and Terrell index method are used to carry out empirical research on the construction level of modernized financial ecosystems in the eight comprehensive economic zones.It is found that the modernized financial ecosystem presents a large fluctuation between 2013 and 2022,with the overall trend of"east coast＞north coast,south coast＞middle reaches of the Yangtze River and middle reaches of the Yellow River＞southwestern region＞northeastern region and northwestern region";Shanghai,Jiangsu,Zhejiang,Beijing and Guangdong rank the top;the linkage effect is high within the eastern coastal region,and low in the southern coastal region;the contribution of the inter-group.differences of the eight comprehensive economic zones to the overall differences is on the rise,and the gap in the level of inter-regional development is gradually expanding;and the fluctuation of the gap in the level of development within the northeastern region,the middle reaches of the Yellow River,the southwestern region,and the northwestern region is large.Finally,the article proposes to strengthen the linkage effect of modernized financial ecosystems within and between regions,promote the effective allocation and utilization of financial resources;formulate local policies according to local conditions,promote the development of local fin-tech industry,and create a local fin-tech innovation ecosystem;strengthen the prevention of financial risks,and improve the transparency and standardization of the financial market.
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