The Impact Of Population Aging On China’s Household Auto Consumption Loans

In December 2022,the first economic work conference since the 20th National Congress proposed that domestic demand and consumption will become the core driving force for the economy.The automobile industry,as one of the important components of China’s economy,is an important industry that drives domestic demand and boosts the economy.As an important form of car purchasing,the development of loan based car purchasing in China is also constantly increasing.Against the backdrop of an increasingly aging society,the influence of family age structure on China’s automotive finance market continues to intensify.By analyzing the different choices of car purchasing forms made by different family age structures,new ideas are provided for formulating policies to expand domestic demand and improve policy effectiveness;In academic research,it can enrich the research content of life cycle theory and enrich the analysis of the impact mechanism of automotive finance;In promoting the development of the automotive finance industry,it can provide reference for the next step of market development for automotive finance companies,and has important theoretical significance and practical value.This article briefly introduces the current situation of China’s automobile finance and population structure,summarizes and sorts out relevant research conclusions at home and abroad,and uses data from the China Household Finance Survey(CHFS)in 2015,2017,and 2019 to explore the different impacts of the proportion of elderly population in households on automobile consumer finance.The research results indicate that an increase in the proportion of elderly people in households will significantly reduce the probability of households participating in traditional automobile debt,and an increase in the degree of aging will directly inhibit the development of the automotive finance industry;The increase in the proportion of elderly people in households will inhibit the improvement of family financial experience,and the increase in financial experience will significantly increase the probability of households participating in traditional automobile debt.Therefore,an increase in the degree of aging will indirectly inhibit the development of the automobile finance industry by inhibiting the growth of family financial experience;There are regional differences,urban-rural differences,and family differences in the impact of aging on the automotive finance industry.In response,the Chinese government and automobile finance companies should comply with the trend of social development,promote financial knowledge to the elderly population,provide "aging friendly" services to elderly consumers,provide differentiated services to different consumers according to local conditions,and strengthen risk control.