<p>Financial resilience refers to the ability of a region to withstand, adapt to, and recover from financial shocks while maintaining stable economic functions. Given China’s complex economic landscape and the increasing frequency of financial disruptions, understanding regional financial resilience is crucial for promoting sustainable development and reducing economic disparities. This study evaluates financial resilience using data from 2011 to 2022, a period characterized by significant financial reforms, global economic changes, and financial market fluctuations. To measure financial resilience, this study employs the entropy weight-TOPSIS method, which constructs a composite financial resilience index and sub-dimension indices. Additionally, the Dagum Gini coefficient decomposition method is applied to analyze regional disparities and their sources. The findings reveal that (1) China’s overall financial resilience remains low but exhibits a slow growth trend. The social resilience index is higher than the financial resilience composite index, while openness resilience is the main weakness in enhancing financial resilience. The eastern region has the highest financial resilience, followed by the western, central, and northeastern regions. (2) Spatial differences in the composite index of financial resilience show a declining trend, with interregional differences being the primary contributor. (3) The intra-regional Gini coefficients for developmental resilience, structural resilience, openness resilience, and social resilience are larger in the eastern region; innovation resilience exhibits greater intra-regional variation in the central region; and institutional resilience shows greater intra-regional disparity in the western region. Comparing the eastern region with others, significant gaps exist in developmental, social, institutional, and innovation resilience between the eastern and northeastern regions; structural resilience demonstrates pronounced stratification between the eastern and central regions; and openness resilience differs significantly between the eastern and western regions. The study highlights critical policy implications, suggesting that enhancing financial resilience through improved financial governance, targeted financial market development, and regional coordination strategies can contribute to sustainable and balanced financial development across China. By enriching the financial resilience evaluation framework, this study provides valuable insights for policymakers aiming to mitigate regional disparities and foster a more resilient financial system.</p>

Regional Differences and Formation Mechanisms of China’s Financial Resilience

期刊论文
发表日期：

2025年9月15日

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Liujuan Yu,
Qiqing Zhou,
Wen Gao

摘要

Financial resilience refers to the ability of a region to withstand, adapt to, and recover from financial shocks while maintaining stable economic functions. Given China’s complex economic landscape and the increasing frequency of financial disruptions, understanding regional financial resilience is crucial for promoting sustainable development and reducing economic disparities. This study evaluates financial resilience using data from 2011 to 2022, a period characterized by significant financial reforms, global economic changes, and financial market fluctuations. To measure financial resilience, this study employs the entropy weight-TOPSIS method, which constructs a composite financial resilience index and sub-dimension indices. Additionally, the Dagum Gini coefficient decomposition method is applied to analyze regional disparities and their sources. The findings reveal that (1) China’s overall financial resilience remains low but exhibits a slow growth trend. The social resilience index is higher than the financial resilience composite index, while openness resilience is the main weakness in enhancing financial resilience. The eastern region has the highest financial resilience, followed by the western, central, and northeastern regions. (2) Spatial differences in the composite index of financial resilience show a declining trend, with interregional differences being the primary contributor. (3) The intra-regional Gini coefficients for developmental resilience, structural resilience, openness resilience, and social resilience are larger in the eastern region; innovation resilience exhibits greater intra-regional variation in the central region; and institutional resilience shows greater intra-regional disparity in the western region. Comparing the eastern region with others, significant gaps exist in developmental, social, institutional, and innovation resilience between the eastern and northeastern regions; structural resilience demonstrates pronounced stratification between the eastern and central regions; and openness resilience differs significantly between the eastern and western regions. The study highlights critical policy implications, suggesting that enhancing financial resilience through improved financial governance, targeted financial market development, and regional coordination strategies can contribute to sustainable and balanced financial development across China. By enriching the financial resilience evaluation framework, this study provides valuable insights for policymakers aiming to mitigate regional disparities and foster a more resilient financial system.