Research on the Impact of Financial Agglomeration on the Upgrading of Industrial Structure from the Perspective of Supply Side Reform -- A Case Study of Shandong Province

Yan Wang, Zhengyin Wang*, Yuna Miao

International Business School, Shandong Jiaotong University, Weihai, 264200, China

Abstract: As an important part of financial circulation in social development, the financial industry plays an important role in the distribution of financial resources for various industries in the entire society. It also plays an important role in improving the overall operation efficiency of macro-economy. One of the key points of economic development is to optimize the industrial structure. The development of industries and industrial sectors needs a large amount of financial support and protection, to test the relationship between financial development and industrial structure adjustment. The analysis shows that the financial development of Shandong

Province can significantly promote the adjustment of industrial structure. Taking Shandong Province as an example, this paper studies the impact of financial agglomeration on the upgrading of industrial structure from the perspective of supply side reform, puts forward relevant policy suggestions to improve the efficiency of resource distribution, and uses various financial means to affect macro-economy and enterprises to balance the development level of financial industry in Shandong Province, and enhances the comprehensive competitiveness of financial industry.

Keywords: Supply side structural reform; Financial market; Financial agglomeration; Impact