Research on the Poverty Reduction Effect of Digital Inclusive Finance in Wenzhou: Toward Common Prosperity

Ziyue Cai

doi:10.54097/bxdggk39

Authors

Ziyue Cai

DOI:

https://doi.org/10.54097/bxdggk39

Keywords:

Digital Inclusive Finance, Low-Income Groups, Household Well-being, Elastic Net Regression, Doubly Robust Estimation

Abstract

This paper focuses on the poverty reduction effect of digital inclusive finance in Wenzhou's progress toward common prosperity, based on the 20th National Congress's strategic deployment for common prosperity and the Central Financial and Economic Commission's policies on inclusive finance. It systematically analyzes how digital inclusive finance alleviates the urban-rural income gap and regional imbalance: by reducing transaction costs via digital tools, expanding service coverage to remote areas via virtual platforms, and improving risk control with big data. Taking Wenzhou as a sample, it constructs the "Digital Inclusive Finance Engagement Index (DIFEI)" and "Household Well-being Index (HWI)" to explore heterogeneous impacts on low-income groups. Using 2024 stratified random sampling data from 5 counties and 3 districts in Wenzhou, the study identifies the marginal effect of digital inclusive finance engagement on the Household Well-being Index through a combination of improved Elastic Net Regression and Doubly Robust Estimation. Finally, by sorting out policies, conducting in-depth interviews, and analyzing cases, this study identifies pain points and bottlenecks in Wenzhou's digital inclusive finance development, summarizes advanced experiences at home and abroad, and proposes optimization paths and policy recommendations, providing a scientific basis and practical reference for building a Wenzhou-characteristic inclusive finance demonstration zone.

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