Resarch On The Impact Of Digital Inclusive Finance On China’s Manufacturing Export Technical Sophistication

Since China issued the development plan for promoting Inclusive Finance in 2015,inclusive finance has achieved good practical results in China.With the deep combination of digital technology and Inclusive Finance,the traditional financial industry has promoted online business and explored different service modes.Comprehensive and high-quality financial services are a strong support for the manufacturing industry.In the critical period of the upgrading of manufacturing industry,the development of digital Inclusive Finance have a certain impact on the export of manufacturing industry.As a comprehensive index to measure the export of manufacturing,the research on the impact mechanism of the development of digital Inclusive Finance on manufacturing export technical sophistication has important significance for the development of digital Inclusive Finance and manufacturing industry export trade.Firstly,this paper studies the relevant literature,deeply understands the meaning of digital Inclusive Finance and export technical sophistication,analyzes the current situation of China’s digital Inclusive Finance and manufacturing industry export,and calculates the index of export technical sophistication of manufacturing industry;Secondly,from the test for mediating variables,this paper analyzes the impact path of digital inclusive finance on manufacturing exports,and puts forward assumptions;Finally,based on the provincial level data from 2011 to 2019,this paper constructs an empirical study on the impact of digital Inclusive Finance on the export China’s manufacturing export technical sophistication through an econometric model,and then puts forward relevant policy suggestions from the aspects of the development of digital Inclusive Finance and manufacturing enterprises.The conclusions of this paper are as follows:(1)Digital Inclusive Finance and its three sub indicators play a significant role in promoting the export technical sophistication of China’s manufacturing industry.(2)By testing the intermediary variables,digital inclusive finance can improve the export technical sophistication of China’s manufacturing industry by reducing the financing constraints and promoting technological innovation.(3)The impact of digital inclusive finance on he export technical sophistication of manufacturing is different in the different regions.Digital inclusive finance can improve the export technical sophistication in the East and central regions,while the influence of digital inclusive finance is not significant in the West.From the perspective of the development degree of traditional finance,only in areas with developed traditional finance,digital inclusive finance can significantly promote the export technical sophistication of manufacturing industry.From the perspective of institutional environment differences,compared with the regions with poor institutional environment,in the regions with good institutional environment,the role of digital inclusive finance in promoting the export technical sophistication of manufacturing industry is more significant.This paper puts forward the following suggestions:give play to the role of digital inclusive finance in promoting the export of manufacturing industry in the western region and alleviating financing constraints,and manufacturing enterprises actively strive for financial support.