| New-type urbanization,which is different from traditional urbanization,is an important symbol of the development of modernization.New-type urbanization pays more attention to the coordinated development of urban and rural areas.The process of new-type urbanization involves the citizenization of farmers,infrastructure construction and upgrading of industrial structure.However,traditional finance is unable to satisfy the demand for financial services in a timely and comprehensive way.The importance of Inclusive Finance is highlighted here.Since its birth in 2005,inclusive finance has been a hot topic.After more than 10 years of development,inclusive finance,with its strong permeability and high inclusiveness,has changed its focus from poverty alleviation to financing of agriculture,rural and rural areas and micro enterprises.As one of the financial development strategies of China,inclusive finance is always committing to providing the equal financial services with low cost to all social strata.This has made great contributions to the balanced development of urban and rural areas and the promotion of social equity.Firstly,based on the panel data of 31 provinces,municipalities and autonomous regions in 2006-2016,the measurement of Inclusive Finance Development in China is established.It is found that the development of Inclusive Finance in China is unbalanced from the perspective of regional distribution.In the eastern regions,the degree of financial inclusion was higher than that of western regions.From the perspective of timing development,there are some differences in the development path of inclusive finance in all provinces.Secondly,inclusive finance has a significant impact on the new-type urbanization process.Through the empirical test of three indicators of financial benefits,financial benefit depth and population penetration,it is found that financial inclusion strength factor has a positive impact on the population,industry and urban and rural overall development indicators,and the degree of influence is very obvious.The financial inclusion depth factor has a slight negative effect on the population index,but it has a more profound positive effect on the industrial structure indicator and the urban and rural overall development indicators.Population penetration factor has a negative impact on population transfer indicators and has a significant positive impact on industrial structure indicators.According to the empirical results,factors including imperfect credit system,weak government orientation and disjointed financial development and the real economy are concluded.In order to make Inclusive Finance more effective,we should improve the credit system,strengthen regional and inclusive cooperation,increase the support of the government,strengthen the participation of Inclusive Finance in the real economy,and carry out the innovation of products and models appropriately. |
