Study On The Influence Of Consumer Finance On Consumption Of Urban Residents In China

China’s economy has been driven by investment since the reform and opening, but in recent years, there are bottlenecks on the development of investment and export, the balance of the "troika" need consumption to keep. Chinese government has regard the concept of expanding domestic demand, promoting residents’consumption as national strategy. Consumer finance is just a kind of financial service to help consumer realize their intertemporal consumption, spur consumption demand and broaden the current consumption market. With the rapid development of economic, residents’ consumption structure in China has upgrade from necessity to enjoy, traditional consumption concept has gradually begun to change, consumption patterns will upgrade in the future. In addition, China’s aging problem is increasingly serious, resulting in a decline in household saving, the growth of consumption is inevitable. The advancement of urbanization will improve rural consumption patterns to urban patterns; this will undoubtedly increase residents’consumption, promoting the development of the local consumer finance market. Therefore, consumer finance services have a great development space in China. To promote residents’consumption, the study that how consumer finance influence residents’consumption behavior has important practical significance.This dissertation takes urban residents as the research object, on the basis of organizing the development of modern consumption theory; it clears the consumption theory suitable for the residents in China, and then under the situation of Chinese residents, achieves a theoretical result about the influence of consumer finance on residents’consumption behavior. There are three influence ways:reduce uncertainty and then lower precautionary savings; ease liquidity constraints, fund for big purchase and then improve durable goods consumption; reduce savings pressure and improve nondurable consumption level. Fourth models are set up to test the effects of three ways through the provincial data.The empirical test shows that consumer finance mainly through easing liquidity constraints and fund for big purchase to influence residents’behavior, the other two ways have little effect in China. This is mainly due to the fact that majority of consumer credit in China is the housing loan, high housing prices lead to repayment pressure, so the nondurable consumption level can’t improve. Another reason is that social security system in China is not sound, health care, education expenditures is high. Under this situation, the residents face more income and spending uncertainty, the emergence of consumer finance not reduces residents’ uncertainty expectations.Finally, according to the empirical results, this dissertation draws lessons from foreign advanced experience, then proposes a series of measures to enhance the role that consumer finance play on urban residents.