Research on the Agglomeration Effect of Financial Industry in Free Trade Zone

Abstract

Since the 1970s, with the rapid development of economic integration and the rapid flow of financial resources, Chinese economic development of has accelerated, financial institutions have become closer, and financial agglomeration has become increasingly obvious, showing regional attributes. In the process of economic development, the leading position of finance is becoming more and more unshakable, and financial agglomeration has become an important form of modern financial industry organization and development. The free trade zone has served as a key role in breaking through traditions, reforms and innovations in China. Based on the free trade zone, Chinese economy can develop more prosperously. 18 free trade zones established in China headed by Shanghai have made excellent achievements in Chinese economic reform. The establishment of the free trade zone has attracted a large number of financial institutions to settle in with its reform and innovation advantages. The embryonic form of financial industry agglomeration has emerged. With the continuous development of the free trade zone, Chinese financial industry agglomeration effect has also appeared. Based on this, this article studies the agglomeration effect of the financial industry in Chinese free trade zone.