The Study of Regional Capital Market Development of:Lunan Economic Belt Abstract
|School||Ocean University of China|
|Keywords||Lunan Economic Belt region Capital Market|
"The twelfth five-year plan outline of national economic and social development of Shandong Province" puts forward building a development pattern with reasonable industry layout, coordinated regional development, accelerated population center and improved urban system. In the economic layout, we should accelerate the development of Lunan Economic Belt. Taking the Lunan hobor-related industrial agglomeration as the lead, we will accelerate the construction of Rizhao steel base, support Heze as the scientific development center in the border area of Su, Lu, Yu, Wan areas, and make Lunan Economic Belt as the new economic growth pole throughout the province. Shandong Peninsula blue economic zone strategy is the intergration and distillation of regional economic strategies in Shandong Peninsula. And it not only brings new development opportunies for Lunan Economic Blet, but also creates practical conditions for the regional capital market development of Lunan Economic Belt. As the core of modern economy, capital market plays a significant role in economic development. Under the backdrop of implementing the overall plan of Shandong Peninsula blue economic zone, capital market is an indispensable support for achieving long-term development goals. For a long time, the eastern area of Shandong has rapid economic development and powerful comprehensive competitiveness, while the relatively underdeveloped west badly affects the balanced development of Shandong Province. Especially in the capital market development, the five cities of Lunan are still underdeveloped, and they are lagged far behind comparing with the fixed layer "one" of Jinan, Qingdao, Yantai, Weihai, Zibo and Weifang six cities, and the "North Wing " including Dongying, Binzhou, Weifang (part), Dezhou, Zibo (part). Therefore, studying the advanced capital market has great theoretical and practical significance to effectively utilize the advantages of backwardness and enhance development monument of the South Wing.At present, foreign regional capital market has formed relatively mature multilevel system after decades’ development.and promotion. Through elaborating relevant theories on regional capital market and taking the regional capital market of the United States, Britain, Japan, this report sums up the basic situation of foreign regional capital market development so as to provide practical reference for the study of regional capital market, especially the development situation and trend of Indian regional capital market has some reference value for national capital market which in the economic transition period. On that basis, the author explores the experience and reference which are helpful for Chinese regional capital market and finds out the basic development skeleton of domestic regional capital market.Compared to foreign capital market system, domestic regional capital system only developed for20-odd years, which means it is an important and brand-new subject, and some related studies are still in a preliminary situation. Through the systematically expansion of the development of regional capital market and the analysis of the present situation of the Lunan five cities, which include Rizhao, it is not difficult to detect that there are some problems in the regional capital market of Lunan Economic Belt, which are as follows:the number of listed companies is small, and financing capacity is low; not many companies make substantial progress due to lacking of listed reserve resources; relevant service institutions develop slowly; also local governments should adopt efficient measures for companies to get listed. Therefore, suggestions and countermeasures should be taken accordingly to establish regional capital market, which mainly include, strengthening organizational leadership to provide assurance for the development of Lunan Economic Belt regional capital market; enhancing the development of listed resources to promote companies get listed and property market financing at home and abroad; reinforcing the cultivation of intermediaries and futures market to positively develop the trading platform in Lunan Economic Belt; further improving policies on the exploration the issuance of small and medium-sided enterprise bonds, industrial investment funds and venture capital funds; setting up the linkage mechanism of capital market development in five cities to promote the overall economic development of Shandong and try to solve the regional unbalanced development in Shandong. Development experience from both home and abroad has proved that rapid economic growth has always been built on a high collection of financial capital. The development and take-off of Lunan economic belt is inseparable from the capital market, and Lunan regional capital market also can not develop without the provincial, national and even international capital market environment. The global economic integration determines that the development of Lunan capital market must be inspected in a larger scope. Advantages of Lunnan, such as ports, resources and location, determine its development space and prospect. Overlooking Lunan from others out of it and taking the planed construction for Shandong Peninsula Blue Economic Zone as an opportunity, we should make practical and long-term development planning from provincial and national perspective to implement the development strategy of capital market in Lunan Economic Belt, thus we can achieve leap-forward economic development in both Lunan Economic Belt and the whole province.