Research On The Impact Of Digital Inclusive Finance On Manufacturing Employment

The Fifth Plenary Session of the 19 th CPC Central Committee put forward: "to start a new journey of building a modern socialist country in an all-round way,we should focus on developing the economy on the real economy and keep the proportion of manufacturing industry basically stable.We should do everything possible to stabilize and expand employment,adhere to the employment orientation of economic development,expand employment capacity,improve the quality of employment and promote full employment".At present,the added value of China’s manufacturing industry and the number of manufacturing employees are declining,and there is a sign of "disenchantment from reality to emptiness" in economic development.How to develop the real economy,stabilize employment and protect the people has become a practical problem that needs to be solved in China.Digital Inclusive Finance provides a practical and feasible way to solve this problem.Inclusive Finance enables vulnerable groups and small,medium and micro enterprises to obtain financial services at a lower cost.The rational allocation of financial resources can stimulate economic vitality and promote economic growth.With the rapid development and popularization of Internet technology,the combination of digital technology and Inclusive Finance makes up for the relatively high unit cost of Inclusive Finance,and further extends the development of Inclusive Finance Theory.The concept of digital inclusive finance came into being.The development of digital Inclusive Finance benefits from the popularity of the Internet and the application of emerging technologies such as cloud computing and big data.Based on Inclusive Finance and using digital technology as a means,digital Inclusive Finance has the dual characteristics of inclusive and digital technology.It can alleviate the financing constraints of small,medium-sized and micro enterprises,reduce the transaction cost of financial services and serve the real economy with higher quality,Manufacturing is of great significance.Based on the provincial panel data from 2011 to 2018,this paper uses the fixed effect research method to analyze the impact of digital Inclusive Finance on manufacturing employment.The full text is divided into five parts: introduction,relevant theories and connotation,theoretical mechanism analysis of the impact of digital Inclusive Finance on manufacturing industry,empirical analysis of the impact of digital Inclusive Finance on manufacturing industry,conclusions and policy suggestions.The study found that digital inclusive finance can not only reduce the financing cost of manufacturing industry,alleviate the financing constraints,directly promote the employment of manufacturing industry,but also indirectly promote the transformation and upgrading,bigger and stronger of manufacturing industry by improving the scientific and technological innovation ability of manufacturing enterprises,so as to create more employment opportunities for manufacturing industry;In addition,there are regional differences in the role of digital Inclusive Finance in promoting the employment level of manufacturing industry.In the central and western regions,the role of digital Inclusive Finance in improving the employment level of manufacturing industry is very significant.On the contrary,the eastern region shows a negative inhibitory effect.The development of digital inclusive finance can not only drive the overall employment level of manufacturing industry,but also adjust the industrial structure and allocate financial resources in different regions more reasonably,so as to improve the employment absorption capacity of manufacturing industry.