Research On The Impact Of Digital Inclusive Finance On Achieving Common Wealth

In 2020,with the unremitting efforts of the Party and the people of all ethnic groups,our country has solved the historic problem of poverty and built a moderately prosperous society in all aspects.The outline of visionary goals states that as of 2035,our country will make substantial progress on the road to achieving common prosperity.At this stage,China has put the issue of achieving common prosperity in a more prominent position.Achieving common prosperity is not only the essential requirement of socialism,but also the key for China to move from a large economic power to an economic power,and plays an important role in promoting the stable and healthy operation of China’s economy.With the rapid development of China’s economy,the defects of traditional finance have gradually come to the fore,such as the inability to meet the financial needs of people in remote areas and insufficient support for innovative enterprises,which have seriously hindered the innovation of science and technology and the efficiency of economic development in China.Under such circumstances,inclusive finance has come into being,improving the coverage of financial services and providing credit support for SMEs,making full use of financial resources.In recent years,with the digital development of China and the improvement of information technology,digital inclusive finance has been developing rapidly.Digital inclusive finance has the innate advantage of providing financial support to all social classes at a lower cost,and when most people in society can enjoy the corresponding financial services on an equal footing,more sources of income can be generated,which has an impact on narrowing the income gap between regions and urban and rural areas to a certain extent..Therefore,it is necessary to study in depth the impact of digital inclusive finance on achieving common prosperity.Using relevant data from 31 provinces in China during 2010-2020,this paper constructs a common wealth indicator system by entropy weight method and innovatively analyzes the impact of digital inclusive finance on achieving common wealth quantitatively.By constructing a fixed panel model to study the influence mechanism of digital inclusive finance on the realization of common wealth,we analyze the heterogeneity between regions and examine the potential influence of the degree of information development.Thirdly,there is regional heterogeneity in digital inclusive finance to promote the realization of common prosperity,and the effect of digital inclusive finance is significantly stronger in the eastern region than in the central and western regions;fourthly,there is a threshold effect in the effect of digital inclusive finance to promote the realization of common prosperity,and the effect of digital inclusive finance to promote the realization of common prosperity is significantly better in regions with higher level of informationization development than in regions with poor level of informationization.Finally,this paper puts forward corresponding countermeasure suggestions based on the empirical research results,hoping that the further development of digital inclusive finance can effectively promote the realization of common affluence in China.First,China must pay attention to the risk problems in the development of digital inclusive finance and improve the legal level and supervision regulations;second,promote the further development of digital inclusive finance,provide efficient inclusive financial services for enterprises and individuals,and effectively improve the level of inclusion;third,provide differentiated inclusive financial services according to the development of different regions;fourth,strengthen the information technology infrastructure construction.