Research On The Impact Of Digital Financial Inclusion Development On Promoting Common Prosperity In Gansu Province

Common prosperity has been the direction of China’s economic development and people’s struggle since it was proposed by Mao Zedong.In 2020,China will achieve comprehensive poverty alleviation,and the focus of work will shift to reducing relative poverty,narrowing the gap and achieving common prosperity.In 2021,the demonstration zone for common prosperity was officially launched in Zhejiang.The 10 th meeting of the Central Committee of Finance and Economics studied the issue of promoting common prosperity in a solid way.In order to achieve common prosperity,China has launched the fight against poverty.In the process of poverty alleviation,the poverty alleviation model has also changed from "blood transfusion" to "hematopoietic",and the concept of "mass innovation,mass entrepreneurship" has been put forward.Innovation and entrepreneurship stimulate the vitality of the market and have the effect of poverty reduction.With the progress of the times and the rapid development of information technology,there are more ways to boost common prosperity.Among them,digital inclusive finance has sprung up,which has achieved significant results in promoting economic growth,promoting high-quality development,narrowing income gap,and promoting rural revitalization,and has promoted the process of common prosperity.Gansu Province is located in the underdeveloped area of northwest China,which is crucial to the realization of common prosperity of the country.Although the economic development has made significant progress in 2011-2020,the overall level of prosperity is still behind the country.Based on the above background,this paper combs the existing literature,analyzes the current situation of digital inclusive finance and common prosperity in Gansu Province,and constructs an indicator system at the prefecture-level and city-level of common prosperity.On this basis,using the panel data of Gansu Digital Inclusive Finance Index from 2011 to 2020,we use the two-way fixed effect model to test the role and heterogeneity of digital inclusive finance on common prosperity;Secondly,the intermediary effect model is used to test the intermediary effect of entrepreneurial activity between digital inclusive finance and common prosperity.After research and test,this paper draws the following conclusions:First,in the face of the objective situation that various indicators in Gansu Province lag behind the national level,digital inclusive finance and its first-level sub-dimension have played a positive role in promoting common prosperity;Second,entrepreneurial activity has an intermediary effect in the process of digital inclusive finance promoting common prosperity.Digital inclusive finance can promote common prosperity by increasing entrepreneurial activity.The above conclusions are still valid after considering the endogenous problems and changing the measurement methods of common wealth indicators.Based on the above research conclusions,it is proposed to accelerate the development of regional digital inclusive finance,encourage public entrepreneurship,improve entrepreneurial activity,develop local culture and tourism economy,strengthen residents’ capacity building,strengthen financial supervision and market supervision and other measures to accelerate the process of achieving common prosperity by promoting the development of digital inclusive finance and increasing entrepreneurial activity.