PROGRESS IN GEOGRAPHY ›› 2022, Vol. 41 ›› Issue (4): 567-581.doi: 10.18306/dlkxjz.2022.04.003

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Organizational models and driving factors of the Yangtze River Delta urban network based on different financial industries

ZHANG Yizhen1(), WANG Tao1,2,*(), ZHANG Han1   

  1. 1. School of Geography, Nanjing Normal University, Nanjing 210023, China
    2. Jiangsu Province Geographic Information Resources Development and Utilization Collaborative Innovation Center, Nanjing 210023, China
  • Received:2021-06-28 Revised:2021-09-27 Online:2022-04-28 Published:2022-06-28
  • Contact: WANG Tao;
  • Supported by:
    National Natural Science Foundation of China(41471103);Major Projects of Philosophy and Social Science Research in Universities in Jiangsu Province(2020SJZDA135);Graduate Student Scientific Research Innovation Projects in Jiangsu Province(KYCX21_1286)


In the context of the development of regional economic integration, urban network research based on different financial industries has gradually become a research hotspot in financial geography. Using the data of 15524 financial companies in the Yangtze River Delta region from 1990 to 2017 and the interlocking network model, modularity, and QAP (quadratic assignment procedure) regression model, this study explored the organizational models and influencing factors of the urban network in the Yangtze River Delta over 27 years. The study found that: 1) From the perspective of the banking industry, the urban network presents a fan-shaped pattern with Shanghai as the core and radiating to cities such as Nanjing, Hangzhou, and Ningbo. From the perspective of the insurance industry, the multi-centric network pattern with Shanghai as the core and Nanjing, Hangzhou, Hefei, and other cities as the sub-centers is more prominent. From the perspective of the securities industry, the urban network connection pattern is relatively stable. 2) Based on different financial industries, urban networks have obvious characteristics of "small world" and scale-free networks. Geographic proximity and preferential links are important factors that affect the division of network "factions". 3) Core cities such as Shanghai, Nanjing, Hangzhou, and Hefei have strong network radiation and agglomeration capabilities and play the "gatekeeper" role in the overall network connection. However, due to the relatively small number of securities companies and slow expansion speed, their network radiation and agglomeration ability is far lower than that of banking and insurance networks. 4) The per capita GDP difference has an inverted U-shaped relationship with the banking network. Cities within the same administrative division and with geographic proximity can reduce spatial friction and promote the flow of factors. Cities with a similar industrial structure and financial environment can help release the lock-in effect, thereby accelerating the integration of actors into the external network.

Key words: urban network, organizational model, financial industry, Yangtze River Delta