Studies on Financial Center Selection Using Spatial Statistical Analysis and Combination Evaluation

For a long time, due to the level of economic development and natural resource endowment, China has had an obvious spatial-structural non-equilibrium. As an essential part of the economic system, finance exhibits relatively solid regional characteristics. Financial resources and related factors driven by them rapidly gather in the central cities, resulting in the gradual formation of regional financial centers. Financial centers realize the optimal allocation of available resources and drive regional economic growth through financial agglomeration, expansion diffusion, spillover, and economic growth. In this paper, spatial statistical analysis is successfully applied to the issue of financial agglomeration in China. The research results indicate that although China's regional economic growth has a statistically significant spatial aggregation distribution, the spatial aggregation distribution for financial development demonstrates a relatively insignificant level. Economic agglomeration far precedes the financial counterpart. The spatial agglomeration level of China's regional financial development is persistently increasing, as more-developed areas have particular driving effects on the financial development of surrounding provinces and cities. This pattern reflects the huge supporting role of regional financial centers on the economy and finance of surrounding areas.