Research On The Jiangsu Consumer Credit Development

In recent years,with the changes in the economic situation,China has accelerated the pace of economic restructuring.At the same time,the supporting role of finance in the real economy has become more apparent.Under the new normal,the development momentum of China's economy will change,from the past relying on investment and exports to being driven by consumption.In this way,consumer credit will also usher in new development opportunities.For individual residents,consumer credit provides a means of intertemporal consumption to alleviate the current liquidity restrictions;for the country and society,promoting the development of consumer credit can stimulate consumer demand,increase total social demand and then stimulate total social supply.In turn,the national income level has risen.In 2002-2018,the scale of consumer credit in Jiangsu Province grew very rapidly.In less than 20 years,it increased by 52 times,with an average annual growth rate of 23.24%.The proportion of consumer credit to total loans is also increasing year by year.From less than 10%in 2002 to the end of 2018,the proportion of consumer loans to total loans is 28.53%,close to 30%.However,compared with developed countries and regions in Europe and America(consumer loans account for more than 60%of total loans),there is still a long way to go.Under this background,it is of great practical and theoretical significance to study the development of consumer credit in Jiangsu Province and to make suggestions for it.This paper mainly studies the development of consumer credit in Jiangsu Province from five aspects.The first part is the introduction part.The introduction part is a description of the background and research significance of the article.The second part is the theoretical analysis framework,including an overview of consumer credit,the significance of developing consumer credit and the relevant theoretical basis.The discussion of consumer credit includes the meaning of consumer credit,the development history of consumer credit in China,the evolution of China's consumer credit policy,the market profile of China's consumer credit,the relevant situation of consumer financial institutions and the discussion of future development trends.The significance of developing consumer credit includes promoting the upgrading of household consumption,transforming the service economy,realizing financial inclusion,and helping to build a social credit system.The third part is the practice of developing consumer credit in Jiangsu Province,including the development history,development status and existing problems of consumer credit in Jiangsu Province.The fourth part is the analysis of the influencing factors of the development of consumer credit in Jiangsu Province,including the analysis of economic,social,legal and regulatory factors.Among them,the VAR model was used for analysis in the empirical analysis.The analysis results show that Jiangsu's GDP and disposable income of urban residents will have a positive impact on Jiangsu's consumer credit balance,while the loan interest rate will have a negative impact on Jiangsu's consumer credit balance.The impact of the consumer price index for Jiangsu Province's consumption.The impact of the credit balance is first positive and then negative.The fifth part is the policy recommendations for the development of consumer finance in Jiangsu Province.It mainly proposes three levels:government,consumer financial institutions and consumers.