Author(s)

Aoqi Xu¹*, Wei Guo², Min Li³

Affiliation(s)

¹ School of Economics, Fujian Normal University, Fuzhou 350007, China;

² School of Credit Management, Guangdong University of Finance, Guangzhou 510521, China;

³ Digital Economy Academy, Yango University, Fuzhou 350015, China.

Corresponding Author

Aoqi Xu, email: hgzdy5843@163.com

ABSTRACT

As the core topic of China's economic development strategy in the new era, the new development pattern of double cycle has triggered a research upsurge among scholars. In the "double cycle" new development pattern, what is very worth studying is the relationship between finance and economy in the region. By studying the interaction between finance and economy, it can provide reference for the construction of China's new development pattern.According to the division method in the eleventh five-year plan report, this paper divides China into eight comprehensive economic regions. Firstly, it analyzes the economic status of each region from the total economic volume and industrial structure, and the financial development status of each region from the financial scale and financial efficiency. Then, it analyzes the correlation between the economy and finance of each region through the correlation analysis of the financial and economic indicators of each region, Through the panel data of eight regions, this paper constructs a multiple linear regression model and makes an empirical test. Through empirical research, it is found that there is a relationship between China's regional finance and economy. Finally, it analyzes the financial factors affecting economic growth, and puts forward suggestions on the construction of China's new development pattern, so as to make the financial development better drive the domestic economic development.

KEYWORDS

Regional finance; Regional economy; New development pattern.

CITE THIS PAPER

Xu Aoqi, Guo Wei, Li Min. Research on the relationship between regional financial development and economic growth in china under the new pattern of double circulation development. Journal of Pharmaceutical and Medical Research. 2023, 5(1): 1-11.

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