Abstract
This paper sets up an Evaluation Index System of the regional financial center with variable selected from three dimensions: economic development, financial development degree and innovation environment support. The principal component analysis methodology is then used to evaluate competition of six cities including Guangzhou. According to the composite score, Guangzhou is ranked fourth, behind Beijing, Shanghai and Shenzhen. In addition, the SWOT analysis of Guangzhou regional financial center is adopted and two major problems are pointed out respectively, headquarter economy in low level and small financial scale. Finally, four recommendations to improve regional financial center of Guangzhou are put forward.
Highlights
World-famous international financial centers are determined by the combined effects of natural factors, economic factors as well as human factors, which play an important role in gathering capitals, optimizing the allocation of financial resources and promoting the development of finance
The regional financial center gathers the financial resources of the region, and has long-term significance of boosting the surrounding areas
This paper aims to make a comparison of six cities in China to explore the issues and weaknesses of Guangzhou Regional Financial Center and to make suggestions to overcome the hardships above
Summary
World-famous international financial centers are determined by the combined effects of natural factors, economic factors as well as human factors, which play an important role in gathering capitals, optimizing the allocation of financial resources and promoting the development of finance. It is obvious that financial center stands in an important strategic position. For China, when it is in the economy period of the high-speed development, the huge demand for funds requires financial centers to manage and allocate the financial resources effectively. When it comes to the China’s New Normal, structure transformation and development of economy can’t do without the support of finance objectively.
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