Research On The Influencing Factors Of Financial Exclusion In China Under The Background Of Digital Inclusive Finance

Financial exclusion refers to the phenomenon that some groups can not obtain financial products or services from formal channels because of their own factors or other external factors.Financial exclusion was the earliest research field of financial geography,and then gradually intersected with economics and sociology,and became a hot topic in academic circles.In the 1990 s,the selective closure of financial institutions in remote and backward areas in western countries was the root cause of financial exclusion.As an important strategic plan of our country,inclusive financial policy has been playing an important role in eliminating Financial Exclusion and developing inclusive finance.In recent years,with the continuous development and innovation of Internet technology and financial science and technology,the concept of digital Inclusive Finance has gradually attracted the attention of the government and Financial Exclusion researchers.It is a new model of inclusive financial strategy to alleviate financial exclusion by developing digital inclusive finance.Under this background,based on the previous research foundation,this paper makes a more in-depth analysis of the phenomenon of Financial Exclusion and its influencing factors in China.Firstly,this paper defines the concept of financial exclusion,confirms the evaluation dimensions of Financial Exclusion-Evaluation exclusion,self-exclusion,price exclusion,conditional exclusion,and analyses the relationship between digital Inclusive Finance and financial exclusion.Secondly,using the number of financial institutions in 286 cities in China to calculate the Financial Exclusion index,the results show that the financial geographic exclusion index in China is between 0.127 and 0.762,which has alleviated on the whole,but the geographical differences among cities are still obvious.In addition,the income data of urban and rural residents and CFPS data sets are used to compare with the Financial Exclusion index.The results also show that there are geographical differences in China's financial exclusion.Next,we use China Family Tracking Survey(CFPS)data to study the impact of individual digitalization tendency on four dimensions of financial exclusion.Research shows that having digital propensity significantly reduces self-exclusion and price exclusion,but has no significant effecton evaluating exclusion and conditional exclusion.In addition,gender,educational background,household registration attributes,job income satisfaction,life satisfaction,understanding ability,proficiency in Mandarin speaking,and whether there is experience of refusal to borrow are also significant factors affecting financial exclusion.Then,from the perspective of the integrity of financial exclusion,the impact of digitization tendency on financial exclusion is studied by the propensity score matching(PSM).The results show that digitization tendency can significantly and positively promote the price of financial products held by individuals,with an average processing utility of 2607.09.Finally,this paper puts forward some policy suggestions to solve the problem of financial exclusion.It considers that it is an important measure to narrow the geographical differences of financial environment between cities,improve the knowledge literacy of digital Inclusive Finance of the masses,and create a tight digital inclusive financial supervision mechanism through digital technology.