The Influence Of Internet Finance On Residential Families To Choose Their Finance

In recent years,advances in information technology have provided the conditions for the development of Internet finance,which affects people's consumption and financial management concepts,thereby changing residents' financial asset selection behavior.In the new era,Internet finance has brought opportunities for China's economic development,promoting steady economic development,driving residents' families to increase their income and enhancing the residents' concept of financial asset choice.At the same time,it also gives residents' families a wider choice of financial products,increasing the possibility of improving their financial returns.Therefore,it is particularly important to explore the impact of Internet finance on residents' household financial asset choices and to make recommendations for rationalizing residents' use of Internet finance for household financial asset choices.Based on the contemporary background of the rapid development of Internet finance,this study first collates and summarizes the relevant literature studies and theories on residents' household financial asset choices,and divides the factors that have an impact on residents' household financial asset choices into Internet finance,household-level and individual residents' factors.Secondly,the mechanism of the influence of Internet finance on it is elaborated according to relevant theories such as life cycle theory and behavioral finance theory.Next,the relationship between the two was explored at the status quo level.Finally,in order to further understand the impact of Internet finance on residents' household financial asset choices,according to the research methods and results of previous scholars,the newly released data of the China Household Finance Survey(CHFS)2017 were used to select indicators such as third-party payment,Internet financial products,financial APP and online shopping experience,and the Internet finance index was calculated using factor analysis,and then empirically tested using Probit and Tobit models to obtain the results on the impact of Internet finance.The results of the study show that Internet finance has a significant positive effect on the choice of savings,stocks,funds and financial products by resident households,with a positive effect on savings but a relatively small coefficient.This may be due to the fact that residents can learn more about financial products through Internet finance and can choose higher yielding financial products based on their risk tolerance.As a result,Internet finance has shown a significant positive impact on the choice of stocks,funds,etc.In addition,as the financial asset choices of our residents' households today are still dominated by savings,and as their income levels rise,more of them have surplus assets to choose from.Thus,Internet finance has a positive effect on savings choices.Finally,in response to the problems in the selection and allocation of residents' financial assets,the following suggestions are made:(1)Coordinate the joint development of Internet finance and traditional industries.(2)To enhance the richness of financial investment products and to serve the population's choice of financial assets.(3)Maintain the level of growth in household income and guide the selection of reasonable household financial assets.(4)To protect the reasonable investment of the financial assets of the population and to develop corresponding protection mechanisms.(5)Build an Internet financial enterprise platform and do a good job of market supervision and management.