This paper uses the super-efficient SBM-Malmquist-Tobit integrated model to measure the efficiency of financial science and technology inputs in the Xi’an metropolitan area from 2016 to 2020, explore the sources of inefficiency in each city in the circle, decompose the total factor productivity of financial science and technology inputs, and further explore the influencing factors of financial science and technology input efficiency. It is found that: 1) the efficiency of financial science and technology inputs in the Xi’an metropolitan area between 2016 and 2020 did not reach DEA, and there are evident and increasing gaps in efficiency among cities; 2) Xi’an has the highest efficiency level in the Xi’an metropolitan area and can play the leading role as a core city to be classified as a high-efficiency city. Xianyang, Tongchuan, and Yangling are mainly due to insufficient or redundant inputs, which can be classified as input inefficiency. In contrast, the inefficiency of Weinan is mainly influenced by insufficient outputs, which can be classified as output inefficiency; 3) The change in technical efficiency is the main reason for the change in total factor productivity in Xi’an Metropolitan Area. The direction of change between the two is the same, showing the characteristics of the mirror "N"-type change, first subtracting and then increasing; The Technological Progress Change Index maintained steady growth; 4) The ratio of personnel in scientific research institutions and the number of scientific research institutions, the proportion of total exports of high-tech products in GDP, and the proportion of patents granted all positively affect the efficiency of financial investment in science and technology. The summary is that as each indicator increases, efficiency grows. The R&D investment intensity and the fiscal share of science and technology will, to a certain extent, constrain the development of the efficiency of budgetary science and technology investment. The more the acquisition, the higher the efficiency. Based on the above research findings, recommendations are made.
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