Abstract: Based on the data of the input-output table, this paper conducts an expanded structural decomposition analysis (SDA) on the intertemporal changes of the financial industry's added value in China's GDP. It is found that the intermediate input structural factor is the main factor resulted in the increasing of China's financial industry in GDP during the period of 2005 to 2015, the contribution close to 40%. The proportion of the financial industry's output used for the intermediate input is significantly higher than that in other countries such as the United States and Japan; moreover, nearly all industries saw a significant increase in the demand for the intermediate input of financial service sector during the sample period. The results of the further comparative study of financial industry expansion during the three typical periods show that the driving factors of the financial industry expansion have certain structural differences under different macroeconomic situations and policy environments. This study can help the literatures to understand more deeply the mechanism of the structural expansion of the financial sector in China's economy during the past period.

Key words: financial expansion, increased value of the financial industry, input-output analysis, structural decomposition analysis (SDA)