In recent years, with China’s improving productivity and continuous economic development, the industrial structure has been optimized but it is still difficult to keep up with the rapid economic development. The key to this problem is to find possible factors affecting the adjustment of industrial structure and the possible pathways and mechanisms of interaction between various factors and the industrial structure. Only on this basis can we propose relevant policy suggestions for different entities of the society, so that China’s industrial structure can be better adjusted and upgraded. Non- governmental finance is born in the private economy, to which it provides financing services, thus promoting the development of China’s economy. Although non- governmental finance faces more obstacles and restrictions in the development process than formal finance, it exerts an important impact on the upgrading of industrial structure, and it has also received extensive attention from many scholars. However, little research has deeply analyzed the impact pathways for non- governmental finance to influence industrial upgrading.

This dissertation takes the provinces in China as the research object to study the relationship between non-governmental finance and the upgrading of industrial structure from the national and regional perspectives. This dissertation collects provincial panel data from 2006 to 2016 to perform an empirical analysis based on the hypotheses and draws the conclusion and proposes relevant policy suggestions based on the empirical results.