The Influence Of Digital Inclusive Finance On Family Welfare

The main task of our country at present is to achieve common prosperity.The family welfare system is the most basic and main social welfare system in the modern social welfare system,and is the basis for the construction of modernisation.Since the reform and opening,China’s economy has grown rapidly.As a result,there has been a sustained increase in the people’s sense of access to spiritual civilisation and material life and their sense of well-being.However,it should be emphasized that while China’s crude economic development strategy focusing on resource investment has contributed significantly to economic growth,it has also been accompanied by more serious environmental and social problems related to factors such as income inequality,environmental pollution and strained living conditions,which have also led to a significant increase in the absence of family welfare.Digital inclusive finance is characterized by its ’universality’ and its main objective is to overcome the unequal distribution of financial resources,thereby reducing people’s exclusion from access to financial services and improving their income and well-being.In order to explore the role of digital inclusive finance on the welfare of residents,this paper first analyzes the mechanism of the impact of digital inclusive finance on family welfare from a theoretical perspective.Subsequently,based on the 2015-2019 China Household Finance Survey(CHFS)data,this paper analyzes the current situation of digital inclusive finance and family welfare,and finds that there are obvious regional differences in the development of digital inclusive finance,while the level of family welfare is improving year by year.Then,an empirical study was conducted on this basis.The study found that digital inclusive finance helps to improve family welfare.Based on the above empirical study,an extended analysis found that there are differences in the effect of the level of family welfare affected by digital inclusion finance in different regions,among which the welfare enhancement effect is stronger in the central,western and northeastern regions;in terms of urban-rural differences,the welfare enhancement effect of digital inclusion finance is stronger in rural areas;in terms of the components of the family welfare index,economic level,social security,social capital and psychological state In terms of the components of the family welfare index,all four indicators are positively influenced by digital inclusive finance;in terms of the mediating effect,there is a mediating effect in the impact of digital inclusive finance on family welfare,which will indirectly improve the level of family welfare by enhancing household assets.In addition,in order to analyze the driving effect of digital inclusion in more detail,this paper analyzes the impact of digital inclusion on different groups of households with different levels of welfare.The results of the study show that households with lower levels of well-being are less likely to be boosted by digital inclusion and that there is a ’Matthew effect’.Finally,this paper reviews the research findings and puts forward the following policy recommendations: firstly,the development of digital inclusive finance should be promoted through multiple initiatives;secondly,digital inclusive finance should be developed in a targeted manner for different regions;thirdly,digital inclusive finance should be built in rural and remote areas;fourthly,differential development measures should be proposed for digital inclusive finance,as the welfare effects of digital inclusive finance on households of different welfare levels are significantly different.Therefore,households with different levels of welfare should be differentiated and targeted to implement differentiated financial services policies.