The Impact of Digital Finance Inclusion on the Employment of Chinese Residents

Abstract

The development of digital finance Inclusion can effectively alleviate information asymmetry and reduce the financing constraints of small and micro enterprises to a certain extent; At the same time, the development of digital finance Inclusion will also give birth to new forms of employment, such as flexible employment methods such as independent entrepreneurship and freelance work, releasing a large number of employment opportunities; The development of digital finance Inclusion can effectively alleviate the financing constraints of individual education and vocational training, improve the human capital and skill level of workers, and facilitate their reemployment, job promotion, and personal income growth. Studying the relationship between digital finance Inclusion and residents' employment is of great practical significance for solving the livelihood problem of difficult employment and promoting high-quality development of Chinese economy. This article first introduces the characteristics of digital finance Inclusion and theoretically studies the mechanism of its impact on employment. In terms of empirical analysis, match the employment statistics of China from 2011 to 2021 with the Digital Finance Inclusion Index of Peking University (PKUDFIIC) in China to test the impact and mechanism of digital finance Inclusion development on residents' employment. The research results indicate that digital finance Inclusion can significantly and actively stimulate employment in the tertiary/service industries; The using of digital finance Inclusion has a more significant positive impact on the employment of urban residents; Relatively speaking, digital finance Inclusion is more conducive to the employment of individuals with higher education, but not conducive to the employment of individuals with lower levels of education; Digital finance Inclusion promotes economic growth and is more conducive to achieving common prosperity. Finally, based on the analysis results of this article, policy guidance is provided.