Research On The Impact Of Digital Inclusive Finance On The Operating Income Of Chinese Residents

China’s digital financial inclusion is achieving leapfrog development under the wave of the fourth industrial revolution represented by big data technology.With the integration and development of inclusive finance and modern digital technology,digital inclusive finance has become an important support of Chinese economic structure optimization and adjustment and promotion of high-quality economy for development.For a long time,the problem of residents’ income growth has been a hot topic in the process of Chinese economic development,and increasing residents’ income is the focus of ensuring and improving people’s livelihood.In the composition of residents’ income,the elasticity of operating income is strong,the degree of close correlation with the market is directly related to the residents’ business and production activities.Under the socialist market economic system,raising the level of residents’ operating income is crucial to increasing the overall income of Chinese residents.The development of digital inclusive finance has improved the financial environment in remote and impoverished areas in China,improved the availability of financial services,promoted the rational allocation of financial resources,and promoted the operating income level of Chinese residents to a large extent.This paper demonstrates the impact of digital inclusive finance on the operating income level of Chinese residents through theoretical analysis and empirical analysis.The theoretical analysis part is divided into direct impact mechanism and indirect impact mechanism,the development of digital inclusive finance is conducive to lowering the threshold of financial services,reducing the cost of financial services,reducing financial exclusions,broadening financing channels,enhancing the ability of operators to resist financial risks,and then directly affecting the financing environment and business scale of individual and private enterprise operators,thereby affecting the operating income level of Chinese residents The increase has a direct impact;Digital inclusive finance indirectly affects the operating income level of Chinese residents by improving the entrepreneurial employment environment,promoting industrial structure upgrading and improving income distribution.Next,this paper analyzes the development status of digital inclusive finance and residents’ operating income in China.The empirical analysis part uses the panel data of various provinces in China from 2011 to 2020 to construct an individual fixed-effect model,and the benchmark regression results show that the development of digital inclusive finance can significantly promote the improvement of the operating income level of Chinese residents under the significance level of 1%.From the perspective of various dimensions of digital inclusive finance,the breadth of digital financial coverage,the depth of use of digital finance and the digitalization of inclusive finance can significantly promote the improvement of the operating income level of Chinese residents.The results show that the development of digital inclusive finance has a greater impact on the operating income level of residents in urban areas,and the development of digital inclusive finance has a greater impact on the operating income level of residents in eastern China,followed by the central and western regions.Finally,this paper conducts a mechanism test,and the results show that the development of digital inclusive finance can improve the operating income level of Chinese residents by promoting self-employment or starting private enterprises,promoting industrial structure upgrading and improving income distribution.Based on the above research,this paper finally puts forward relevant policy recommendations.