Research On The Impact Of Digital Inclusive Finance On The Upgrading Of China’s Industrial Structure

As the economy enters a new normal,the optimization of industrial structure plays an increasingly important role in the high quality development of the economy.Since finance is the lifeline of the economy,its smooth flow is the right thing to achieve high-quality economic development.Therefore,it is particularly important to explore the impact of digital inclusive finance on the upgrading of industrial structure and its theoretical mechanism.However,at present,most of the studies involving this topic are mostly from a flat perspective,while ignoring the spatial effect.This paper analyzes the role played by the development of digital inclusive finance in the process of industrial structure upgrading from a spatial perspective,and proposes corresponding countermeasures based on the findings of the full paper.First,this paper summarizes the relevant literature on digital inclusive finance and industrial structure upgrading by collecting relevant information.Next,a theoretical analysis is conducted from the perspectives of direct effects and spatial spillover effects.The current situation analysis section elaborates on the development of digital inclusive finance in China and the change trend of its industry.In the empirical analysis section,using 2011-2020 as the research phase,data from 31 Chinese provinces are used to form panel data,and then the direct and spatial spillover effects of the development of digital inclusive finance on the upgrading of industrial structure in each region are empirically analyzed.The results show that(1)the level of digital inclusive finance development in China’s provincial administrative regions has increased year by year,with significant regional heterogeneity.The industrial structure also changed from "two,three,one" to "three,two,one" during the sample period.(2)There is a significant positive spatial correlation between the industrial structure upgrading indexes among provinces.From the Moran scatter plot,it can be seen that the rationalization index and advanced index are mainly distributed in quadrants one and three,showing the characteristics of low-low agglomeration and high-high agglomeration.(3)Digital inclusive finance can bring positive positive stimulating effect to industrial structure upgrading with indirect spatial spillover effect.The development level of digital inclusive finance and other control variables in this province not only affect the industrial structure upgrading in this province,but also exert inhibitory effects on the industrial structure upgrading in other provinces.The recommendations of this paper are as follows:(1)Efforts to promote the development of digital inclusive finance should be increased.(2)The development of digital inclusive finance should be reasonably planned and strategies should be formulated in the light of the actual development situation of the region.The development centers of digital inclusive finance should neither be too dense nor too sparse.(3)Regions with high levels of digital inclusive finance development should take the lead,and regions with low levels of development should also be given more support.(4)Coordinate the formulation of regional development strategies,actively carry out inter-provincial interaction and enhance industrial structure.Each province should establish an active cooperation mechanism to promote the flow of talent,technology,capital and other things,increase the frequency of resource use and remove the difference between administrative regions.(5)Focus on improving the level of digital support services.(6)Improve and complete the legal service provisions.