A Study on the Convergence of Financial Development on Province Level in China

Based on the theory of economic convergence and the convergence test method, this paper makes an empirical analysis of the convergence of China's financial development. It is found that in recent years, the gap between 1978 and 2016 has not been narrowed automatically, but China's financial level is on the rise in the total amount. The differences of financial development between provinces and cities are increasing. There is no ?-convergence in general, but there is absolute ?-convergence in the financial development.