"Financialization" refers to a brand-new concept put forward by economists for economic development, which is the core stage of the development period of financial capital, that is, the state completes the transformation of the national economic core through the integration of financial capital and enters the developed countries, which is the control and domination of the real economy. Although the concept of financialization has been recognized by more and more countries, the academic community has no understanding of its definition.

On the one hand, "financialization of non-financial enterprises" means that non-financial enterprises obtain economic benefits and increase financial payments through financial investment from a dynamic perspective; On the other hand, from a static point of view, non-financial enterprises bring direct financial benefits through financial investment. In this way, enterprises have improved their own economic benefits, and financial benefits account for a large proportion of total income. The return of financial markets has been highly valued by such enterprises.

2 Analysis of the current situation of the development of non-financial enterprises' financialization

The financial income of non-financial enterprises in China needs to pay higher taxes, but the overall tax rate is low. The operating profit of Chinese enterprises mainly depends on the real economy such as production and trade. Furthermore, the ratio of financial payment to profit is relatively stable. China's non-financial enterprises are less affected by financialization when distributing income. However, from the perspective of capital operation, although the proportion of financial capital in the total capital is declining, it is highly financialized because of its high proportion. At present, China's non-financial enterprises mainly use financial assets to improve the use of non-value-added currencies, indicating that this level of financialization is low, and production capital is still the main capital form of China's non-financial enterprises.

3. Reasons for the insufficient level of financialization of non-financial enterprises in China.

3. 1 Affected by economic model.

Under the market economy system in China, the development of enterprises does not exist independently. There is a close relationship between government and enterprises. The government can choose macro-control measures to influence the development of enterprises. Since the last century, economic performance, as an important part of explicit indicators, has become an important content for the government to evaluate the administrative ability of local officials. In order to improve local economy, some regions often choose investment-driven mode to drive local economic vitality. With the help of preferential policies such as taxation and loans, the capital utilization ability of local enterprises will be stimulated. Both state-owned enterprises and private enterprises will be affected by the government's macro measures, and the cooperation between policies and strategic investments is more obvious, and enterprises can obtain more development guarantees.

Safe.