A Study On The Factors Affecting Chinese Household Consumer Finance

Consumer finance is an important research field in finance and economics with rapid rising.In all country,consumer finance has shown vigor potential.Recently,family's disposable income,consumption and residents overall level of financial awareness also improved with economic developing,and always shows significantly social progress changing.In order to maximize the utility and to adjust the level of consumption properly,consumers can use the current savings for future consumption,and also can use the current loan for future savings.Under such a demand,household consumer finance emerged.However,compared to other countries,family participation in consumer finance activities is still considerable insufficient.Study the factors that may affect family consumer finance decisions,we can find ways to urge family to participate more in financial activities,which has great meaning to government control.Making more family willing to participate in consumer finance activities,not only can promote the rapid growth of China's household consumer Finance,but also can further boost the comprehensive development of economy in our country.In this paper,The general idea is based on China's household consumption status in formal financial markets;we find the significant characteristics,and then build Probit models.Factors divide into two parts: one is household characteristics;the other is external financial market conditions.We thought for that analyze the consumption of the families and extracted the significant feature,such as gender,employment,nature of work and education and so on.Probit model was constructed,using China Family Panel Studies data(CFPS).According to the research results and some conclusions are obtained: the increase of human capital will promote household consumption management,family economic situation has a significant impact on Household Consumer Finance,non economical factors has more complex impact on Household Consumer Finance.Finally,based on theoretical and empirical analysis,we puts forward some policy suggestions from three levels:the national,institution and family.At present,there are many problems for us to research consumer finance field.This paper is designed to help us to get to know China household consumer finance influencing factors and should have the enlightenment.At the same time,we hope to promote the development of national economy.