Consumer Finanee Impact Analysis On Economic Growth In China

In the current economic situation, the transformation of the mode of economic growth had became a important focus of the deepen the reform of economy. In the last century, our country economic growth mainly depends on exports, has been in the condition of surplus in international trade, but as the deterioration of the external economic environment, especially the infiltration of the international financial crisis, disadvantages emerging export-led economic growth way, cannot effectively promote China’s economic growth. Investment is an important part of the economic growth. It can be seen that from the data has been disclosed, investment contribution in the proportion of GDP contribution is bigger, but a drop in nearly five years of proportion. Under the background of market economy growing, China’s economic growth pattern is in the "export" and "investment-led" gradually to "domestic demand oriented" an important historical period. "Expanding domestic demand is mainly refers to the consumption demand, consumption, pull growth" mode of economic growth has been in the industry consensus. Based on the economic backdrop, we can’t help thinking, how to expand domestic demand and promote economic growth and complete economic transformation? Consumer finance since the ninety s into the financial markets, in terms of expanding domestic demand and promote economic growth, is undoubtedly a very beneficial attempt. Through the development of consumer finance to expanding consumer demand not only from the short-term perspective, for the rapidly changing economic situation provides a path, and in the long term, injected with important force to promote China’s economic growth. How consumer finance affects economic growth, however, how the strength of impact on economic growth, is that we should consider the problem.This article firstly illustrates the mechanism analysis of consumer finance to promote economic growth from the aspects of theory. Consumer finance directly impact on the economy mainly in the influence on consumer demand, and then promoting economic growth through to the consumer demand; Indirect effect refers to the influence on investment, through the investment scale, investment structure and the changes in the consumption demand for investment, promote economic growth. Secondly, through metering method, has carried on the empirical analysis to consumer finance to promote economic growth.. In the process of analysis, unit root test on the first, and then We choose consumer credit balance and GDP as the research data, use co-integration regression test we know that there is a linear relationship between the consumer credit and GDP, and is a positive correlation relationship, reoccupy impulse function analysis, with the conclusion of Granger causality test, we come to the conclusion that the consumer credit and GDP have influenced each other, and promoted each other. Finally the article puts forward five policy suggestions on how to promote the development of consumer finance in China.The suggestions are as follows. Guide residents change the traditional consumption concept;Establish a diversified consumer finance system; The government should perfect the relevant laws; To improve the national consumption level, further improve the social security system; Build and perfect personal credit system.