Research On The Impact Of Digital Inclusive Finance On Rural Industrial Integration

The 19th National Congress of the Communist Party of China proposed to actively promote the development of rural three industries,help and guide rural innovation,and expand the channels for farmers to increase income.In addition,the 14 th Five Year Plan proposes to comprehensively develop the county economy,promote the integrated development of rural three industries,and improve the space for farmers to increase income.In recent years,with the support of many policies,the integration of three industries in China’s rural areas has made great progress,forming new formats such as smart agriculture,digital agriculture,and "Internet plus" agriculture.Industrialization construction has also achieved great results.During the "13th Five Year Plan" period,151 modern agricultural industrial parks have been built,258 rural industrial integration development demonstration parks have been built,and more than 1000 agricultural industrialization consortiums have been developed.However,due to the relatively weak agricultural foundation and the weak driving capacity of agricultural entities,China’s rural industrial integration development is still in the initial stage.Solving this problem requires the support of external fun ds,so developing rural finance is still an important means to solve rural financing problems and achieve rural industrial integration.As an emerging financial service model,digital inclusive finance alleviates the cost and risk constraints of rural fina nce,providing more development space for rural integration of three industries.Therefore,it is necessary to study and analyze the role that digital inclusive finance plays in rural industry integration to promote rural industry revitalization.This paper is carried out along the following ideas.Firstly,by combing the relevant theories and development status of digital inclusive finance and rural industrial integration,this paper discusses the direct role of digital inclusive finance in promoting rural industrial integration from the main mode of rural industrial integration,and further discusses the intermediary role of consumption upgrading.Secondly,the research is further extended from the structural heterogeneity of regional and digital inclusive finance.Again,the article continues through the threshold effect of human capital and traditional finance in this issue.Finally,based on the panel data of 29 provinces from 2011 to 2020,this paper empirically tests the impact,mechanism,heterogeneit y and threshold effect of digital inclusive finance on rural industrial integration,and draws the following conclusions :Digital inclusive finance can not only play a positive role in the integration and development of rural industries,but also promote the integration and development of rural industries through the promotion of agricultural industrial chains,agricultural multi-functional expansion,and the integration and development of agricultural services.And this effect is heterogeneous across diff erent dimensions and regions of digital inclusive finance.Through further analysis,it can be found that digital inclusive finance can promote the integrated development of rural industries by promoting the upgrading of household consumption.In addition,the results of the threshold effect can be found that after crossing the threshold of human capital,the role of digital inclusive finance in rural industrial integration is more prominent;Under the threshold of traditional financial development,the coefficient of digital inclusive finance first decreases and then increases,indicating the complex relationship between digital financial services and traditional financial services.Finally,based on the research results,the article puts forward suggestion s from supporting the development strategy of digital inclusive finance,improving the rural industrial integration development system,and narrowing regional development gaps.