Abstract
Background/objectives: The integration of information industry and pension industry has become a new growth point for the regional economy. To achieve its deep integration, it is necessary to analyse the fusion mechanism and make scientific measures of the level of integration. This study aims to analyse the circumstances of the integration of information industry and pension industry from the practice level of industrial integration. Method/statistical analysis: Due to the wide range of the pension industry and the lack of large-scale representative enterprises, the overall industrial information collection is difficult. Therefore, the grey relational analysis method is selected to establish the fusion level measurement model. According to the 2011–2017 Statistical Yearbook of Handan city in China, eight related industries were selected as reference series, and Excel 2016 program calculation was used to complete the empirical research. Findings: According to the results, the average level of integration of eight related industries of Handan city in China is 0.74913, of which the information industry and the e-pension industry are 0.64909, ranking seventh, information industry and leasing and business services. The degree of integration is up to 0.84005. The low level of integration between the information industry and the pension industry is highly likely to impede regional economic growth. Improvement/application: In this study, the grey relational analysis showed that the level of integration between the information industry and the pension industry in China was identified, and that it was still in the early stages of integration. It also presented policy alternatives to speed up the development of industry integration in terms of consumer, market and technological improvement, and system innovation.Keywords: Information Industry, Pension Industry, Industrial Integration, Grey Relational Analysis.
Highlights
At present, China’s economic development has matured and entered a new normal situation
The grey relational analysis can be studied in the current integration of the information industry and the pension industry: 1) the grey relational analysis method is derived from the grey system theory, and can analyse the dynamic history of all variables
This method is typically used to measure the proximity of economic and social indicators of different industries in the annual curve space, which processes variables in a dimensionless manner. This method can overcome the inconsistencies of the selected variable units, and the advantages of this method are obvious, especially in the present situation, where it is difficult to obtain detailed data on the output values of the information industry and the aging industry; 2) the grey correlation of industry indicates the proximity of industry indicators, the latter reflects the degree of industrial integration, because it can more objectively explain the degree of cross-industry impact
Summary
China’s economic development has matured and entered a new normal situation. Inter-industry integration has become a new impetus for industrial development and economic growth. Since the integration between industries, many emerging industries have been developed. The rapid development of the information industry has changed the traditional trading venues, expanded trading hours, enriched trading categories, accelerated transaction speed, and reduced intermediate links.[1] The Internet has had a wide and profound impact on all aspects of society, and has entered an era of great change, the major development and great integration.[2]. The Integration of Development of Information Industry and Pension Service Industry Using Grey Relational Analysis (GRA)
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