On Regional Financial Gap and Coordinated Development of Regional Economy in China

Since the implementation of reform and opening up, regional financial gap has gradually expanded along with the increasing of regional economic gap in China. This empirical study notes that financial development can significantly contribute to the regional economic growth, and that there are no significant differences in such contribution across regions in China. Therefore, adequate attention must be paid to the support and effect of finance. Normal financial strategy, differentiated regional financial control policies and regulatory policies must be instituted with increased financial support of the backward areas, thus being conducive to the harmonious regional economic development.