The Impact Of Mobile Payment On Household Consumption In China

Consumption plays a very important role in a country’s economic development.It is called the "troika" that drives economic growth together with investment and export.Facing the downward pressure of the global economy,the traditional economic development model oriented by production and export has encountered bottlenecks.As the driving force of economic growth,household consumption has become the core content of current economic research.However,mobile payment,which was born in the Internet age,broke through the time and space limitation of traditional payment methods,and provided a new way to improve household consumption level.In this thesis,using the data of China Household Finance Survey(CHFS)in 2017,from the perspective of payment methods,using descriptive analysis,classical econometric methods and spatial econometric methods,we study the impact of mobile payment,a financial technology product,on the total household consumption expenditure and the upgrading of consumption structure from a micro perspective,and discuss the relevance and heterogeneity of the impact between regions,providing micro evidence for mobile payment to promote household consumption and promote the upgrading of household consumption structure.Firstly,on the basis of combing and summarizing the existing literature,this thesis analyzes the current situation and differences between mobile payment and household consumption by using descriptive analysis,ANOVA,Moran index and Gini coefficient.It is found that the scale of mobile payment users and the penetration rate of mobile payment among netizens in China continue to increase,and the overall scale of mobile payment transactions continues to rise;Residents’ consumption expenditure continues to grow,and the overall trend is stable and improving.In addition,the change of household consumption expenditure is not only the change of total amount,but also the change of household consumption structure;there are significant differences between mobile payment and consumption expenditure in the characteristics of head of household,family and region;there are obvious spatial correlations among the use of mobile payment,total consumption expenditure and Engel coefficient of household in China’s provinces,Among them,the agglomeration characteristics of mobile payment usage and total consumption expenditure have a high degree of similarity,that is,there are more low-value agglomeration provinces.Most areas are concentrated in the western regions where development is relatively underdeveloped,while the high-value agglomeration areas are mainly the eastern regions with a relatively high level of development,and the agglomeration is relatively dense.The Moran’s value distribution of Engel’s coefficient is relatively scattered,and the regional agglomeration is opposite to the total amount of mobile payment and consumption expenditure;there are large gaps in the total amount of household consumption,consumption types and the use of mobile payment between regions and within regions.Secondly,by analyzing the influence behavior,mechanism and effect of mobile payment on household consumption,this thesis constructs a regression model to study the influence of mobile payment on household consumption expenditure and consumption structure upgrading,and further explores the heterogeneity of the influence in urban and rural areas,regions,income class,education level and consumption type,and finds that the use of mobile payment can promote household consumption expenditure and has the potential to transform household consumption structure from survival consumption to development consumption and enjoyment consumption;Heterogeneity analysis shows that mobile payment has a significant role in promoting household consumption expenditure and consumption structure upgrades in urban and rural areas,but it has a greater role in rural areas;the difference in the impact of mobile payment on household consumption in eastern,central and western regions is mainly reflected in its ability to fully release the consumption potential of middle-income families and promote the optimization and upgrading of the consumption level and household consumption structure of low-income households,For the residents with higher education level,the effect of mobile payment on their total consumption expenditures and the upgrading of household consumption structure is less than that of the residents with lower education level;the impact of mobile payment on food consumption is the least.Finally,based on the research conclusions,from strengthening the risk management of mobile payment,ensuring the security of mobile payment;giving full play to the inclusive characteristics of mobile payment tools,breaking the bottleneck of the optimization and upgrading of consumption structure in underdeveloped regions;lengthening the industry chain field of mobile payment,Promoting the integrated development of mobile payment and other industries;relying on the advantages of Internet technology to further enhance the innovation of mobile payment technology and functions,and proposing relevant policy recommendations to improve the development of mobile payment and promote household consumption.