A Study on the Impact of Financial Agglomeration and Technological Innovation on High-Quality Economic Development

Based on the measurement and analysis of annual provincial data from 31 provinces, municipalities and autonomous regions in China from 2013 to 2021, the study was conducted using the calculated composite indexes with fixed effects and mediated effects models. The results show that financial agglomeration has a significant positive effect on promoting high-quality economic development; some of the effects of financial agglomeration can promote high-quality economic development through technological innovation; and measures such as expanding the scale of investment, improving the mechanism of talent cultivation, and optimising the structure of enterprises all contribute to achieving high-quality development. The following recommendations are made: increase the degree of financial agglomeration, improve the efficiency of capital utilization, and increase investment in technological innovation.