Research On The Impact Of Digital Inclusive Finance On The Consumption Upgrading Of Rural Residents

In recent years,China’s economy has been developing steadily.As the second largest economy in the world,under the background of COVID-19’s impact,China’s economy has been able to guarantee steady growth because consumption plays an important role in promoting economic growth.China has 36.11% of the rural population.Only by promoting consumption upgrading and improving the quality of life of rural residents can we promote economic development.At the same time,the digital economy is developing rapidly.In the field of inclusive finance,enterprises use digital technology to carry out financial business,explore financial markets in rural areas,alleviate financial exclusion,provide new ideas for promoting consumption upgrading,and explore the path of digital inclusive finance to promote consumption upgrading of rural residents,so as to make rural residents improve their living standards and promote economic development.On the basis of relevant research at home and abroad.In the analysis of the problem,this study starts from the current situation,theory and demonstration,studying the impact of digital Inclusive Finance on the consumption upgrading of rural residents.Firstly,it summarizes the relevant literature of digital Inclusive Finance and rural residents’ consumption,and determines the research objectives;Secondly,combined with the chart,this paper analyzes the development process of digital Inclusive Finance,the general situation of regional development and the current situation of rural residents’ consumption,and observes the current development trend;Then,combined with finance and consumption theory,analyze the impact mechanism and put forward assumptions,and conduct correlation analysis at the same time;Then,based on the panel data: the time span is 2011-2020,using the data calculated by the digital finance research center of Peking University,combined with the relevant data of 31 provinces in China,the empirical analysis is carried out from two aspects of overall and regional division with the fixed effect model.The research shows that:(1)On the whole,digital inclusive finance can improve the consumption level of rural residents and optimize the consumption structure,so it has a significant positive impact on the consumption upgrading of rural residents.From the perspective of secondary dimension indicators,coverage,depth of use and digitization can promote the improvement of rural residents’ consumption level,but there is no significant level of depth of use;The breadth and digitalization of coverage can improve the consumption structure of rural residents,and the depth of use can improve the development and enjoyment consumption of rural residents.(2)From the perspective of regional division,there are differences in the economic development level of rural residents in eastern,central and Western China.Therefore,there are regional differences in the impact of digital Inclusive Finance on the consumption upgrading of rural residents.The three aspects of the secondary dimension indicators also have regional differences in the consumption upgrading of rural residents in various regions of China.(3)From the perspective of control variables,the per capita disposable income of rural residents and the level of urbanization can promote the consumption upgrading of rural residents;The increase of the dependency ratio of children and the elderly may have an adverse impact on the improvement of consumption level and consumption structure,and may inhibit the consumption upgrading of rural residents.Finally,based on the research conclusion,the study puts forward six suggestions,which are to promote the construction of financial infrastructure in rural areas,enrich financial products and services,increase per capita disposable income in rural areas,strengthen publicity and education in finance,the financial sector should improve the regulatory system and balance the level of financial development in various regions...