Financial supporting strategies for regional economic growth: A case study of shaanxi province in China

Regional financial markets are acknowledged as the determinant influencing and restraining regional economic development with deepening economic financialization. However, there is no clear and well-acknowledged understanding about to what degree regional financial development is correlated with regional economic growth, whether the correlation varies from one region to another, and how regional finance facilitates regional economic growth. This paper discusses the financial supporting strategies for regional economic growth by taking Shaanxi province as an example and discloses the correlation of regional economic growth with regional financial development. With regard to a region, the improvement of regional financial structure and efficiency is an effective way to promote regional economic growth. The regional financial market facilitates the growth of regional economy by increasing capital fluidity, accumulating capitals for industrial development, strengthening corporate governance, offering risk management, and providing information about economic development.