Based on the panel economic data of 30 provincial administrative regions in China from 2005 to 2019, this paper uses the spatial Durbin model to test the relationship between financial spatial structure and regional economic development from four sub-dimensions of financial ratio, financial vitality, financial efficiency and financial density. The results show that the financial structure has a significant spatial effect on the coordinated development of regional economy in China, and the regional economic development is affected not only by the financial structure of the region, but also by the financial structure of neighboring regions. From the direct effect of financial structure on economic development, financial efficiency promotes the development of local economy, while financial density inhibits the development of local economy and neighboring areas. Financial ratio and financial vitality significantly drive the economic development of surrounding provinces. And the economic influence of financial spatial structure in eastern, central and western regions is different. Therefore, we should continue to deepen the reform of China’s financial system and optimize the matching degree of financial spatial structure and real industrial structure, and exert the policy guidance function of “enabling government” and the financial resource allocation function of “efficient market”. In addition, measures should be taken according to local conditions, and differentiated financial development strategies should be implemented based on local industrial endowments.