Financial agglomeration boosts urbanization and economic growth in China's key regions.
Financial agglomeration has a big impact on urbanization in China's Yangtze River Economic Belt. By analyzing data from 77 cities, researchers found that areas with strong financial industries see more population and economic growth. Factors like foreign investment and technology also play a role in urbanization. The impact of financial agglomeration varies across regions, with the eastern and central areas benefiting the most. This study supports the need for sustainable development policies in economically developed regions.