Research On The Role Of Digital Inclusive Finance In Promoting Rural Revitalization

The 19 th National Congress of the Communist Party of China pointed out that we should implement the rural revitalization strategy,and at the same time made it clear that it is necessary to always take the solution of the "three rural issues" as the top priority of the whole party’s work.The 20 th National Congress of the Communist Party of China further made it clear that it is necessary to comprehensively promote rural revitalization,requiring that we adhere to the priority development of agriculture and rural areas.The implementation of the rural revitalization project will inevitably be accompanied by huge capital needs,which cannot be separated from financial support.Digital inclusive finance applies cutting-edge digital technologies such as big data,artificial intelligence,and cloud computing to the field of financial services,which can effectively alleviate problems such as information asymmetry and high transaction costs in rural areas,better serve long-tail customers,better promote the development of rural financial economy,and help achieve rural revitalization.As the first batch of Internet banks,MY bank plays a pivotal role in the development of digital inclusive finance in China.In this context,based on MY bank’s experience in county-level inclusive credit in Gansu Province,this paper discusses the role of digital inclusive finance in promoting rural revitalization and development through qualitative and empirical research.In terms of qualitative research,this paper summarizes the research results and theoretical basis of digital inclusive finance and rural revitalization in academic circles at home and abroad,and analyzes the theoretical mechanism of digital inclusive finance to promote rural revitalization and development.The current situation of digital inclusive finance promoting rural revitalization in Gansu Province was sorted out.In terms of empirical research,the evaluation index system of county rural revitalization was constructed,the entropy method was used for empowerment and an empirical test model was established to verify the role of digital inclusive finance in promoting rural revitalization,and further explore the effect of inclusive credit in alleviating credit imbalance in rural areas,thereby promoting rural revitalization,and tested heterogeneity.The analysis results show that: firstly,the measurement results of rural revitalization show that the overall development level of rural revitalization and the five general requirements of Gansu Province show a steady upward trend.Secondly,digital financial inclusion can significantly promote rural revitalization and development.Deepening the use of digital inclusive finance can increase the issuance of inclusive credit,thereby promoting rural revitalization,and its promotion role is mainly manifested in ecological livability,civilized rural style and rich life,and the effective promotion effect on industrial prosperity and governance has not yet appeared.Finally,the results of heterogeneity analysis show that in areas with relatively weak economic development,low coverage and high degree of digitalization,digital inclusive finance has a more significant role in promoting rural revitalization.Based on the development status and empirical analysis results of digital inclusive finance to promote rural revitalization in Gansu Province,this paper puts forward the following suggestions: First,there are great differences in the development level of county rural revitalization,and the coordinated development of digital inclusive finance for county rural revitalization should be promoted in an overall manner.Second,we should deepen the use of digital inclusive finance,ease credit constraints in rural areas.Third,give full play to the advantages of digital inclusive finance in ecological livability,civilized rural style and rich life.Fourth,we should strengthen the construction of financial infrastructure in rural areas and promote the development of digital inclusive finance.