Current Situation of Digital Inclusive Finance in China

Inclusive finance is not only an innovation in financial service concepts but also an institutional arrangement to address the imbalance in social and economic development.Therefore,it is particularly necessary to study the current development status,development level,and challenges of inclusive finance and to conduct research on these issues.Overall,inclusive finance has demonstrated a positive momentum of development,but improvements are still needed in terms of market players,products and services,and the external ecosystem.China’s inclusive finance is still in its infancy,making it essential to accelerate its development and promote inclusive finance in the country.

Research on the Impact of Chinese Digital Inclusive Finance on Industrial Structure Upgrade—Based on Spatial Dubin Model

Based on the panel data of 30 provinces, municipalities, and autonomous regions in China from 2011 to 2018, this paper uses the digital inclusive financial index and industrial structure upgrading coefficient of the Internet Research Center of Peking University as the core explanatory and explained variables to construct a spatial panel. Bin model performs regression analysis on the effect of digital inclusive finance in the upgrading of industrial structure. The results prove that the development of digital inclusive finance in this province and city has significantly promoted the upgrading of the regional industrial structure, and it has a positive overall effect on the upgrading of industrial structure.

Research on the Spatial Influence of Digital Inclusive Finance on the High-quality Development of Private Economy

This paper selects China's provincial panel data from 2011 to 2020,uses the entropy method to calculate the high-quality development index of the private economy,and studies the spatial impact of digital inclusive finance on the high-quality development of the private economy based on the SDM model.The results show that:digital inclusive finance development has a positive effect on the high-quality development of the private economy in various provinces and cities,while it has a negative inhibitory effect on the high-quality development of the private economy in neighboring provinces and cities.In terms of spatial heterogeneity,digital inclusive finance in North China,East China,and Central and South China has a significant role in promoting the high-quality development of the private economy.The effect of North China,East China,and Central South is decreasing in order,while digital inclusive finance in Northwest China has a significant effect on the private economy.High-quality development has a negative effect.This paper provides empirical evidence and policy directions for the high-quality development of private enterprises in the context of the digital economy in the new era.

High-quality Development Path of Henan Agriculture and Rural Areas Empowered by Digital Inclusive Finance

By studying high-quality development process of Henan agriculture and rural areas empowered by digital inclusive finance,it is found that the construction of digital financial infrastructure in Henan Province is relatively complete,and the level of deposit and loan of rural enterprises and farmers is constantly improving,and the market and government are constantly upgrading the financial risk insurance compensation mechanism.At the same time,there are also problems such as insufficient demand and supply of digital finance,single digital financial products,and weak market supervision.Based on this,some implementation paths are proposed,such as continuing to strengthen the construction of rural financial infrastructure in Henan Province,improving farmers’financial literacy,and enriching digital financial products and services.The government should continue to improve the construction of market system,and broaden the market supervision and management,to actively promote the digitalization of agricultural finance to enable the high-quality development of agriculture and rural areas in Henan Province.

The Digital Inclusive Finance and Enterprise Innovation:Evidence From A-Share Market

In China,the integration of digital technology and finance has gradually formed a digital supply mode of inclusive finance,which alleviates the financing limitations of small and medium-sized businesses to a certain extent and is significant for enterprise innovation activities that need financial support.Under the National Innovation-driven Development Strategy,it is particularly meaningful to evaluate whether digital inclusive finance can foster company innovation.This article empirically evaluates the impact of digital inclusive finance on firm innovation and development using data from all listed companies on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2011 to 2018 together with the city level digital inclusive finance index.The result shows how digital inclusive financing may support businesses’innovative processes,and its role in promoting innovation differs among enterprises of different scales,but such heterogeneity effect can be absorbed by industry effect and time effect.The result of this paper sheds lights on the role of digital inclusive finance in improving enterprise performance by solving the financing dilemma of them,and according to the empirical results,this paper suggests that the support for digital inclusive finance should be further improved in order to promote the good and healthy development of the real economy,which refers to the part of a country’s economy that produces goods and services,rather than the part that consists of financial services such as banks and stock markets.

The Logic of Digital Finance in the Age of Digital Economy

This paper explores the development logic,trends,and challenges of digital finance in the era of the digital economy.As a crucial component of the digital economy,digital finance has completely transformed the traditional financial services model through factors such as technological innovation,data intelligence,and personalized user experiences,paving the way for new business models and market opportunities.However,the rapid development of digital finance also faces challenges such as competition,security,and regulation.This paper emphasizes the importance of finding a balance between innovation and security in the development of digital finance and discusses the potential of digital finance in promoting financial inclusion and sustainable development.Through comprehensive analysis,this paper aims to provide valuable insights for academic researchers and industry practitioners,promoting the healthy development of digital finance.

Exploring the Evolutionary Path of Digital Financial Inclusion in Guangdong Province,China

This study explores the development trajectory of digital financial inclusion in 21 cities in Guangdong Province through fuzzy-set qualitative comparative analysis(fsQCA).The findings emphasize that the success of digital financial inclusion goes beyond individual dimensions,forming a systematic initiative marked by multifaceted interaction among different disciplines.In the trajectory of high-level digital inclusive finance development,the study identifies economic prosperity and technological innovation as crucial elements,highlighting their centrality,and elucidates the synergistic collaboration between market mechanisms and government guidance.Furthermore,the study emphasizes the government’s pivotal role in supporting market mechanisms and guiding policies,highlighting the need to achieve a nuanced equilibrium in the digital financial inclusion strategy.In contrast,non-high-level development paths of digital inclusive finance show a spectrum of diversities,emphasizing the critical roles played by economic fundamentals,government regulation,market mechanisms,and other contextual factors in different trajectories.Regarding policy implications,the study emphasizes the comprehensive and systemic nature inherent in the development of digital inclusive finance.It proposes four policy recommendations,including integrating development strategies,emphasizing scientific and technological innovation and economic development,achieving a delicate balance between market mechanisms and government guidance,and providing precise policy support.These insights provide valuable lessons for shaping digital inclusive financial policies in Guangdong Province and beyond,offering profound insights for strategically constructing robust digital financial ecosystems.

Digital Economy, Financial Inclusion and Inclusive Growth

This paper represents an early attempt to investigate whether digital finance driven by the internet revolution helps promote inclusive growth in China.We match the Index of Digital Financial Inclusion,which measures digital finance development in China,with data of the China Family Panel Studies(CFPS),which provide representative household survey data in China.Firstly,based on sub-sample empirical analysis,we find that digital finance has helped increase household income,especially rural household income,in China.Thus,digital finance is conducive to inclusive growth in China by narrowing regional and urban-rural gaps.Secondly,we examine how digital finance spurs inclusive growth in China by bringing rural households equal access to entrepreneurship opportunities.Lastly,we uncover how digital finance interacts with physical capital and social capital in promoting entrepreneurship,concluding that households with less physical or social capital had bene fited more,which is also conducive to inclusive growth.

Study on Accelerating the Construction of Digital Inclusive Financial Service System in Rural Area

With the improvement of the overall economy of rural areas and the acceleration of the well-off society and poverty alleviation process,digital inclusive finance advances the development of rural area considerably.However,it still suffers from some problems such as lack of high-tech talents,low popularity,and shortage of effective supply and demand.This study explores relevant data and the corresponding solutions.This study also aims at accelerating the construction and improvement of digital inclusive financial service system in rural area and promoting the construction of well-off society and poverty alleviation process.

Spatial-temporal Evolution and Influencing Factors of Digital Financial Inclusion: County-level Evidence from China

The vigorous development of information and communications technology has accelerated reshaping of the financial industry. The COVID-19 pandemic has further catalyzed the demand for digital financial services. Digital financial inclusion relies on information technology to overcome spatial limitations. In this case, the research question is whether it adheres to the spatial laws governing conventional financial activities. This study uses exploratory spatial data analysis and a geographical detector to elucidate the spatiotemporal characteristics and factors influencing digital financial inclusion at the county level in China(Data don’t include that of Hong Kong, Macao and Taiwan of China) from 2014 to 2020. The research findings indicate: first, China’s county-level digital financial inclusion is generally increasing and exhibits significant spatial autocorrelation. Second, population density, level of traditional financial development, government regulation, and education level are key determinants of China’s county-level digital financial inclusion. Third,policies should be differentiated by region to narrow the spatial gap in digital financial inclusion. The results provide a reference for other developing countries on using digital technology to develop financial inclusion.

The impact and heterogeneity analysis of digital financial inclusion on non-farm employment of rural labor

This study examines the effects of digital financial inclusion on non-farm employment of rural labor and the mediating mechanism of innovation and entrepreneurship activity using China Family Panel Studies(CFPS)and the provincial index of digital financial inclusion.Through the empirical test of the Probit model and mediation effect model,we found that:firstly,digital financial inclusion can promote non-farm employment of rural labor,with the level of digitalization having the most significant impact;secondly,by encouraging innovation and entrepreneurial activity,digital financial inclusion can promote non-farm employment of rural labor;thirdly,the driving effect of digital financial inclusion on non-farm employment of rural labor is more pronounced among the unmarried,eastern region,and male labor.Therefore,we should improve the construction of rural digital infrastructure and accelerate the development of inclusive rural finance to promote more diversified non-farm employment options for“disadvantaged groups”;encourage and support innovation at the government level,and create a favorable atmosphere for innovation and entrepreneurship.Simultaneously,farmers’digital literacy and financial knowledge should be improved so that more can adopt and take advantage of digital financial inclusion.

Analysis of Mobile and Internet Network Coverage: Propagation of Electromagnetic Waves and Concept of Digital Divide in Burundi

Mobile and Internet network coverage plays an important role in digital transformation and the exploitation of new services. The evolution of mobile networks from the first generation (1G) to the 5th generation is still a long process. 2G networks have developed the messaging service, which complements the already operational voice service. 2G technology has rapidly progressed to the third generation (3G), incorporating multimedia data transmission techniques. It then progressed to fourth generation (4G) and LTE (Long Term Evolution), increasing the transmission speed to improve 3G. Currently, developed countries have already moved to 5G. In developing countries, including Burundi, a member of the East African Community (ECA) where more than 80% are connected to 2G technologies, 40% are connected to the 3G network and 25% to the 4G network and are not yet connected to the 5G network and then still a process. The objective of this article is to analyze the coverage of 2G, 3G and 4G networks in Burundi. This analysis will make it possible to identify possible deficits in order to reduce the digital divide between connected urban areas and remote rural areas. Furthermore, this analysis will draw the attention of decision-makers to the need to deploy networks and coverage to allow the population to access mobile and Internet services and thus enable the digitalization of the population. Finally, this article shows the level of coverage, the digital divide and an overview of the deployment of base stations (BTS) throughout the country to promote the transformation and digital inclusion of services.

Is the spatial impact of digital financial inclusion on CO_(2) emissions real?A spatial fluctuation spillover perspective

Digital financial inclusion(DFI)has the advantage of promoting information sharing,reducing transaction costs,and providing microloan platforms for small and medium-sized enterprises.It has also made outstanding contributions to decreasing CO_(2) emissions.However,the volatility correlation between DFI and CO_(2) emissions is still relatively unexplored.This research uses the spatial autoregressive process with conditional heteroscedastic errors(SARspARCH)model to evaluate the spatial fluctuation spillover impacts of DFI on CO_(2) emissions in 284 Chinese cities covering the period 2011-2016 following the IPAT model.The results indicate that CO_(2) emissions have significant spatial spillover and volatility effects.The fitted value of SARspARCH estimation results is more realistic than the SAR and spARCH model.DFI alleviates average CO_(2) emissions in Chinese cities.Moreover,spatial volatility weakens the negative influence of DFI on average carbon emissions.This study provides insights from which governments can strengthen inter-regional communication and synergistic emission-reduction capabilities,and promote the digitization of the financial sector to achieve carbon neutrality goals.

Media and Information Literacy in Inclusive Education: A Team Teaching Concept at the Technische Universitat Dortmund

There is a desideratum in the research about the interdependencies of inclusive education and media education. Digital media can facilitate individualized and cooperative learning. Additionally, digital media can be used to promote inclusion. However, which factors influence the acquisition of media and information literacy in inclusive education? Comparative international studies, e.g., the International Computer and Information Literacy Study (ICILS), show how social challenges, such as participation and handling heterogeneity at school, can be addressed through media. In numerous studies, it becomes apparent that German teachers do not sufficiently see the potential of digital media, especially for the improvement of learning opportunities for individuals with diverse learning requirements. German teachers are not well able to apply digital media appropriately in their lessons. Teachers need to be qualified and to design modern education with accessible media. In Germany, the ratio between available computers and pupils (1:4) is far better than the rate between teaching with and without computers. According to the teacher’s reports, only 9% of teachers are using digital media daily. Approximately 40% use digital media seldom or never. It seems that the cause is a skeptical attitude towards media among teachers, especially in humanities. That may result from missing didactical competences regarding digital media. The idea of Technical Pedagogical Content Knowledge (TPACK) and extending that explanatory model for teachers’ competencies on the inclusive practices builds the theoretical background for the design of joint seminars by the Research Center Youth-Media-Education as part of the Faculty for Cultural Studies and the Research Cluster Technology for Inclusion and Participation at the University of Dortmund. Prospective teachers should become familiar with this way of collaboration. Already for four years now, a teaching team from these two departments designs collaborative lectures. Inclusive teaching and learning in different contexts are practiced in tutorials with practical approaches as well. In tandems, the students develop a learning situation at school or extracurricular institutions. Afterward, they present it. The presentation focuses on the concept, its teaching and learning conditions, and competence orientation as well as opportunities and limitations.

Digital Financial Inclusion and Consumption Smoothing in China

In this paper,we investigate the effect of digital financial inclusion(DFI)on household consumption smoothing in China.We use four waves of the biennial China Family Panel Studies from 2010 to 2016,during which time DFI has significantly developed alongside financial technology across China.We split household income shocks into permanent and transitory components,and evaluate if DFI may help households to buffer against these shocks.We find that households are not able to insure against permanent shocks to income,but they can smooth approximately 70 percent of transitory shocks to income.We also find that DFI has diminished households'ability to insure against transitory income shocks.This is partly because online purchase may lead to the oversensitivity of consumption to income.In addition,we find that contrary to DFI,traditional financial sector development contributes to better household consumption smoothing against transitory income shocks.

Fintech,Bank Risks,and Business Performance:From the Perspective of Inclusive Finance

Recent years have seen an increasing integration of fintech and inclusive loans,leading to significant changes in banking business models and operations.The paper analyzes the impact of fintech on bank risks and performance.The research findings show the following results.First,fintech has made banks more willing to issue inclusive loans.Second,by leveraging fintech,banks have lowered the risks associated with inclusive loans and improved their performance,particularly manifested by inclusive loans to small and micro enterprises.Third,in regard to financial geographic heterogeneity,with the increasing distance between branches and sub-branches,and head office,fintech,as an effective regulating tool,can help to improve the inclusive loan operations and risk control capabilities of remote branches and sub-branches.This paper argues that digital financial inclusion contributes to the stable operation of banks;banks can take advantage of fintech to digitalize and intelligentize financial inclusion,thereby improving business efficiency,reducing risk exposures and expanding profitability.Therefore,banks should adhere to the“prudent and stable”risk appetite and“small and decentralized”credit granting principle to make safe,convenient and impartial inclusive finance services available to a variety of market entities.When implementing the inclusive finance development strategy,head office should consider different results among branches and sub-branches due to their varied financial geographic locations,and release differentiated assessment and incentive policies to branches and sub-branches based on economic regions in a bid to minimize policy spillovers.

The Impact of Digital Financial Inclusion on Agricultural Mechanization:Evidence from 1,869 Counties in China

In light of China's generally backward agricultural mechanization levels,it becomes crucial to shore up this weak link with endogenous driving force.The digital financial inclusion offers a approach to addressing the challenges related to agricultural mechanization.This study,collecting data from 1,869 counties and using the Spatial Autoregressive Model with Spatial Autoregressive Disturbances(SARAR model),analyzes the equilibrium and disequilibrium effects of digital financial inclusion on agricultural mechanization,as well as the mechanisms through which digital financial inclusion operates.The findings indicate that both digital financial inclusion and agricultural mechanization exhibittspatialspillovereffects.The development of digital financial inclusion emerges as a significant driver for promoting agricultural mechanization.Furthermore,the impact of digital financial inclusion on agricultural mechanization varies based on the level of agricultural economic development,with counties characterized by less developed agriculture,plain topography,and strong agricultural sectors benefiting more from digital financial inclusion.Additionally,digital financial inclusionini directlyboosts agricultural mechanizationby increasing farmers income and encouraging investment in fixed assets.Therefore,it is crucial to harness the benefits brought by the development of digital financial inclusion while promoting agricultural mechanization,and regions should tailor their approaches to promote digital financial inclusion development according to their local conditions.

The impact of financial inclusion on digital payment solution uptake within the Gulf Cooperation Council Economies

Recognizing the role of society in the sustainability of payment system innovation through the quadruple helix framework,this study analyzes the causal influence of demand-side financial inclusion indicators on society's uptake of digital payment solutions(DPS)within the regional economy of the Gulf Cooperation Council.To this end,the present study relies on data extracted from Global Findex surveys(in 2014 and 2017),as well as the economic theory of random utility maximization,to model individuals'DPS uptake decisions“ceteris paribus.”The maximum likelihood estimation revealed no gender-based gradient in DPS uptake behaviors;additionally,financial inclusion indicators such as transaction account ownership and debit card ownership did not significantly influence endogenous or exogenous DPS uptake decisions between 2013 and 2017.However,all remaining financial inclusion indicators did significantly influence DPS uptake.Assessing these findings through the lens of open innovation and the ongoing efforts from the Arab Regional Payment System project,which seeks to expand financial inclusion by facilitating access to transaction accounts,there is reasonable evidence to suggest that complementary financial inclusion policies addressing the use dimension of DPS(i.e.,extending access to saving and borrowing,along with digital payroll practices for both private and public enterprises)would contribute to more effective policy on financial inclusion in the region.

Fintech,Digital Financial Inclusion,and National Financial Competitiveness

With the rapid development of fintech as represented by the internet,artificial intelligence,blockchain,cloud computing and big data,especially the evolution of big data and deep learning,and the major changes in financial service models and products in recent years,the development of global inclusive finance has undergone different stages,from“micro finance,”through“inclusive finance,”to“digital financial inclusion.”In the context of growing global competition in the financial sector,many countries are promoting digital financial inclusion and formulating applicable national development strategies.Therefore,it is suggested that China should further strengthen support policies,increase its influence on global financial governance,construct a long-term regulatory mechanism for digital financial inclusion,and build digital inclusive financial infrastructure in order to improve the international competitiveness of China’s financial industry.

数字普惠金融服务小微企业融资研究--以全国首个小微企业数字征信实验区为例

数字普惠金融将数字技术与普惠金融深度融合,为纾解小微企业融资困境提供了可行的新路。根据对全国首个小微企业数字征信实验区的案例剖析和区内588家小微企业的问卷调查结果,小微企业融资行为符合普惠金融“短、小、频、急”的典型特征,融资方式以信用贷款为主,资金用途多样,但是信息和信用不对称制约其融资可得性。实验区以服务小微企业为中心,构建综合金融服务体系、全国首个区块链数字征信平台、金融科技创新监管试点“三位一体”的运行模式,充分发挥了数字普惠金融的赋能效应。但是,要复制、推广实验区的建设经验,仍面临一些制约因素,因此要完善相关法律法规,稳步扩大金融科技创新监管试点,深化数字技术和数据要素融合应用,探索构建全国互联互通的数字征信平台和数字普惠金融“元宇宙”,以期在更大范围更好地服务小微企业融资和实体经济高质量发展。