The Influence Of Internet Finance On Residents' Income

As a new financial model,Internet finance has been developing rapidly in recent years,which plays an increasingly important role in the financial market of our country.Traditional financial institutions and Internet enterprises use emerging Internet technology and communications technology to enable traditional financial business to achieve payment,investment and financing,insurance and information intermediary business.Among which P2P lending is an important branch.With the prosperity of China's economy,the scale of P2P lending transactions is also rising.In 2017,the transaction volume of P2P lending in China reached 2.804849 trillion yuan,with an increase of 35.9%compared with 2016.The development of P2P lending is of great significance.On the one hand,it can solve the problems of the lack of overall financial supply and structural insufficiency in our country,and it is an effective supplement to inclusive finance.On the other hand,it can provide new financial channels for residents to help residents maintain and appreciate their wealth.At present,the country and nation are in the key stage of realizing the great rejuvenation.At the 19th CPC National Congress,the Central Committee has put forward that the socialist modernization should be basically realized by 2035,and the increase of per capita income should also be the proper meaning of modernization and powerful socialist country.The development of Internet finance effectively promotes the economic growth and industrial upgrading in China,and plays a very important role in the national economy.Therefore,it is of great significance to study whether P2P lending affects the income of urban and rural residents.This paper uses the research methods of literature research,theoretical research and empirical analysis,from the theoretical and empirical aspects to analyze the impact of P2P lending on the income of residents.In the theoretical analysis part,after expatiating the connotation,mode and development of Internet finance and P2P lending,we analyze the impact of P2P lending on the income of rural and urban residents.In the empirical analysis part,we use the individual fixed effect regression model to analyze the data of eight provinces and cities from the first quarter of 2015 to the second quarter of 2017,and the results show that the transaction volume of P2P lending and the number of investment both have a positive impact on the income of residents.With the theoretical analysis and empirical analysis,we can draw a conclusion that the development of P2P lending can effectively promote the growth of residents' income.Finally,this paper suggests the corresponding policy recommendations:while improving the laws and regulations of Internet finance and regulation,we should vigorously promote the development of P2P lending and other Internet financial models.