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The paper employs Gini coefficient decomposition approach to uncover the change tendency of regional financial development disparity in China and the change characteristics of sources of the disparity, and uses MEDD to deeply analyze the shape of distribution of regional financial disparity and the transition characteristics of internal structure. The results reveal that the regional financial development disparity shows a reduction-expansion-reduction trend, and the disparities between different regions dominate the change tendency. The dominant factors successively manifested in the movement of high level club towards low level one, polarization, and the movement of low level club towards high level one. The convergence tendency of regional financial development in recent years demonstrates that the coordinated regional development strategy adopted by China has achieved significant effects.