Research On The Impact Of Digital Financial Development On The Consumption Upgrade Of Chinese Resident

At present,China’s economy and society are in a critical period of transition from high-speed development to high-quality development Investment and consumption is drive economic growth troika,the new crown outbreaks and international economic development situation of the world is not stable,lead to China’s exports and investment in a series of uncertain factors,thus promote transformation and upgrading of consumer not only plays an important role in China’s steady economic growth,the formation of a new development pattern of our country also has an important supporting role Rapid development of science and technology,provides a new direction for the traditional finance,financial model spawned Numbers Under this background,the current finance for further study of digital China consumer comprehensive upgrade,the influence of the upgrading of consumption to explore new development pattern formed in our country’s countermeasures to transform and upgrade to guide the real economy is of important theoretical and practical significance.In this paper,reading a lot of domestic and foreign digital financial and consumer upgrade related literature,on this basis,try to from both theoretical and empirical methods to explore the digital financial development impact on China’s current residents’ consumption upgrading First of all,this paper introduces the definition of related concepts,summarizes the domestic and foreign scholars in the field of research;Secondly,the relevant theories are elaborated,and the theoretical mechanism of digital finance’s influence on consumption upgrading is analyzed,respectively from the demand side and the supply side.Finally,based on the number of digital financial research center of Peking University provides financial index and 29 in China(excluding yunnan Tibet)at the provincial level panel data and fixed effects research,at the same time of total digital financial indicators and three dimensions(coverage Using deep depths of digitized degree),and use three child indicators(digital pay insurance business The paper further studies the influence of digital finance development on China’s consumption upgrading from the perspectives of regional heterogeneity and economic development level heterogeneity.The results show that: first,digital finance and its two sub-dimensions,namely coverage and depth of use,significantly improve the overall consumption level of residents and promote overall consumption upgrading,but the degree of digitalization has no significant impact on the current consumption upgrading of Chinese residents;Second,in the sub-dimension test,it is found that in the three dimensions under the depth of use index,digital payment and insurance play a certain role in helping residents to upgrade their consumption,but credit does not significantly promote it.Thirdly,the robustness test found that,first of all,from the perspective of regional heterogeneity,the development of digital finance model in the east,The West and the West has a significant positive impact on the current upgrading of consumer consumption in China,and the marginal effect of digital finance in the central and western regions on the overall upgrading of consumer consumption is higher than that in the eastern region.Secondly from the Angle of economic development level,either high or low GDP region area,GDP figures is significantly contributed to the financial degree of residents’ consumption upgrade in our country,and the low level of economic development of region economic development level is higher than the number of financial upgrade the marginal effect is more significant on consumption Finally based on the empirical conclusion respectively from digital financial infrastructure Some suggestions are put forward on the popularization of digital finance and innovation of digital financial products and services.