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Academic Journal of Business & Management, 2024, 6(1); doi: 10.25236/AJBM.2024.060134.

The Influence of Banking Development on Economic Growth in Zhejiang Province


Weiting Peng

Corresponding Author:
Weiting Peng

Guangxi Normal University, Guilin, China


With the high-quality development of Zhejiang Province's economy, the banking industry has also developed rapidly. In terms of overall development analysis, the number of banking institutions in Zhejiang Province has increased by more than 3,000, the number of employees has nearly doubled, and total assets have doubled by nearly 10 times. However, compared with other eastern regions, there is still room for development of the banking industry in Zhejiang Province. In terms of efficiency analysis, the non-performing loan ratio of the banking sector in Zhejiang Province has been decreasing, indicating that its safety is generally on an upward trend and has remained at a high level after 2019.The loan-to-deposit ratio exceeded 90% after 2019, it is at a high level, indicating that the banking sector in Zhejiang Province has a large liquidity risk.Net profit has been improving since 2017, indicating an upward trend in profitability. From the regression analysis, Zhejiang province's banking industry development, the traditional deposit and loan business is no longer the absolute role and the role of intermediate business is increasing.


Zhejiang Province, macro-analysis, activity analysis, regression analysis

Cite This Paper

Weiting Peng. The Influence of Banking Development on Economic Growth in Zhejiang Province. Academic Journal of Business & Management (2024), Vol. 6, Issue 1: 234-239. https://doi.org/10.25236/AJBM.2024.060134.


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