A New Composite Financial Maturity Index and its Application to China’s Province-level Regions

Jianjun Zhang, Zuoxiang Zhao, Jon Tucker

Research output: Contribution to journalArticle


This paper introduces a new regional “financial maturity index” (FMI) based on previous studies of financial development theory. We explore a unified measure of regional financial development by constructing a new composite financial maturity model. This paper presents a regional FMI measurement process to study 31 Chinese provincial level regions for the year 2012. Our empirical results correctly reflect the integrated financial development level of different areas, which can be summarized as gradually diminishing as we move from eastern to western areas within China. This trend is also consistent with the characteristics of China’s regional economic and social development.
Original languageEnglish
Article number2
JournalJournal of Finance and Management in Public Services
Issue number1
Publication statusPublished - 2016
Externally publishedYes



  • Financial development
  • China

Cite this