The Impact Of Digital Financial Inclusion On Residents’ Property Income

In 2021,China’s "14th Five-Year Plan" and the outline of the long-term goals for 2035 clearly put forward "building an institutional mechanism for finance to effectively support the real economy,improve the level of financial science and technology,and enhance financial inclusion".As of June 2022,the size of China’s Internet users was 1.051 billion,and the Internet penetration rate reached 74.4%,an increase of 2.8 percentage points from June 2021,with the average weekly Internet time of Internet users being 29.5 hours and the proportion of Internet users using mobile phones to access the Internet was 99.6%.With the development of digital financial inclusion,residents’ property income has also increased year by year,so what kind of connection between digital financial inclusion and residents’ property income is worth pondering.In this regard,based on China’s national conditions,this paper studied the impact of digital financial inclusion on residents’ property income based on theoretical and empirical evidence.Firstly,this paper introduced the research background and significance,research ideas and methods,research content and framework in the introduction section.Secondly,the literature and research results related to inclusive finance and residents’ income were sorted out;Next,the basic theories related to inclusive finance and household income are reviewed,which provides strong support and basis for the later analysis and research.Then,this paper deeply explored the relationship between digital financial inclusion and residents’ property income,and used the panel data of 30 provincial-level administrative units(including autonomous regions and municipalities directly under the central government)in China from 2011 to 2019 for empirical testing.Finally,the paper summarized and proposed corresponding policy recommendations.The paper found that digital financial inclusion and the breadth,depth of use and digitalization of digital financial inclusion have a significant positive effect on residents’ property income.Through the analysis of the heterogeneity between urban and rural areas,it is concluded that digital financial inclusion,its coverage,depth of use and degree of digitalization have a greater effect on the property income of rural residents than that of urban residents.In addition,the study also found that the promotion effect of digital financial inclusion on residents’ property income decreases with the higher level of regional economic development,that is,the promotion effect of digital inclusion financial on residents’ property income in areas with low economic development level is greater than that in areas with higher economic development levels.At the same time,the improvement of population quality can strengthen the role of digital financial inclusion in promoting residents’ property income.Accordingly,the paper summarized in the last part,and put forward operational countermeasures and suggestions based on the actual situation in China,so as to better play the positive role of digital financial inclusion and improve the property income of Chinese residents.