Research On The Impact Of Digital Financial Inclusion On Rural Residents’ Consumption In Yunnan Province

Under the new normal and new development pattern of the economy,consumption has become an important driving force for China’s economic development,and its impact on GDP has become increasingly prominent.Since 2020,in order to cope with the impact and challenges of the new crown pneumonia epidemic,China has accelerated the construction of a new development pattern of "domestic circulation as the main body,and domestic and foreign dual circulation promoting each other",and also emphasized the importance of household consumption to economic growth.However,with the continuous impact of the epidemic on economic development in the past three years,the economic growth of Yunnan Province with tourism as the main support has been significantly hindered,and at the same time import and export restrictions have led to relatively low-income levels of rural residents in Yunnan relying on the export of mushrooms and other characteristic agricultural and sideline products and the development of tourism industry.The financial industry has become an important pillar of modern economic and social development,and its influence is not only reflected in the level of economic development,but also profoundly affects people’s daily consumption behavior.The emergence of inclusive finance will help promote the consumption of rural residents in Yunnan Province.Through financial inclusion,we can provide more convenient and comprehensive financial support to poor areas and low-income people who have been neglected by traditional financial mechanisms.With the innovation and progress of science and technology,digital inclusive finance has become a new type of financial service model,which can not only reduce the cost of financial services,but also provide more convenient financial services,so that disadvantaged groups in the economic field and groups of all social strata can enjoy financial services,thereby promoting the consumption of rural residents.Through the research in this paper,we can deeply understand the impact of digital financial inclusion on the consumption status and path of rural residents in Yunnan Province,and obtain valuable suggestions that will help promote rural residents’ consumption,so as to broaden domestic demand,achieve the goal of the new development strategy of "domestic circulation,domestic and international dual circulation",and then continue to make efforts to promote the sustained health and longterm stable growth of China’s economy.Based on the existing research results of scholars at home and abroad,this paper will discuss the impact of digital financial inclusion on rural residents’ consumption in Yunnan Province from theoretical analysis,current situation analysis and empirical analysis.Firstly,the relevant theoretical foundations of inclusive finance,digital inclusive finance and rural residents’ consumption are clarified,and the impact of digital inclusive finance on rural residents’ consumption in Yunnan Province is analyzed.Secondly,it analyzes the current development of digital inclusive finance in China and Yunnan Province,as well as the consumption level of rural residents in Yunnan Province.Finally,in order to better discuss the impact of digital financial inclusion on rural residents’ consumption in Yunnan Province,the data of Peking University Digital Inclusive Finance Index(2011-2021),China Statistical Yearbook,Yunnan Statistical Yearbook,and Statistical Bulletin were selected,and Stata16 software was used to establish a fixed-effect model for empirical analysis.