Research On The Impact Of Consumer Finance On The Consumer Behavior Of Urban Residents

Under the new normal of economy,the country has implemented the reform of supply measurement,which regards consumption as a new engine of China’s economic development.It mainly guides the upgrading and adjustment of China’s industrial structure through consumption upgrading,develops new consumption hot spots through innovation on the supply side,and creates new impetus for economic growth through consumption driving.The active development of consumer finance,on the one hand,can promote the expansion and development of the consumer market,promote the improvement of consumption level,upgrade the consumption structure,further promote economic growth and change the economic development mode.Under the new normal of China’s economic development,overcapacity is the main obstacle to the overall transformation of China’s economy.It is necessary for China’s economic growth model to change from investment and export to consumption.Therefore,it is very important to study the influence mechanism of consumer finance on consumer behavior for promoting the establishment of long-term mechanism of consumer demand and accelerating the change of economic development mode.This paper focuses on four aspects of consumer finance,namely,payment instruments,risk management instruments,consumer credit and financial assets,and discusses the mechanism of consumer impact in China.Firstly,this paper analyzes the relevant theories of the internal mechanism of consumer finance that affect the consumer behavior of Chinese residents.At the same time,using the panel data of 31 provinces in 2009-2018,this paper makes an empirical study on the impact of different functions of consumer finance on the change of consumer behavior in China.The construction of consumption mode mainly considers two aspects: improving consumption level and upgrading consumption structure.At the same time,due to the unbalanced development of urban residents’ consumption in different regions of China,it needs to be discussed separately.Therefore,this paper divides it into three regions: the East and the central and western regions for empirical analysis.The conclusion of this paper is as follows: Although consumer finance has a positive impact on the increase of consumption expenditure and the upgrading of consumption structure of urban residents,the impact has not been fully released,and there is still room for development.Atthe same time,there are also regional differences in this impact.The development of consumer finance in the East has a strong impact on the consumption of urban residents,while the impact of consumer finance on the consumption behavior of urban residents in the central and western regions is relatively weak.Moreover,this kind of influence is mainly realized through the restriction of reducing the liquidity of consumer credit.Based on the conclusion,this paper puts forward countermeasures and suggestions to promote the comprehensive development of consumer finance and improve the quality of urban residents’ consumption.