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Web of Proceedings - Francis Academic Press
Web of Proceedings - Francis Academic Press

Research on the Impact of Consumer Finance on China's Economic Development

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DOI: 10.25236/mfssr.2019.055


Jingran Zhu

Corresponding Author

Jingran Zhu


In recent years, China's economic growth mode has begun to transform, especially after the financial crisis, the country began to support consumer finance enterprises in a planned way. How to better develop the consumer finance industry and standardize the consumer finance industry so that it can effectively shoulder the task of domestic demand for labor has become a problem worthy of discussion. In terms of theoretical research, this paper defines the specific connotation of consumer finance, and elaborates the current form of supply and the main body of supply of consumer finance combined with the actual situation. On the basis of consumption theory, consumption credit theory and economic growth theory, this paper draws out the causes and functions of consumer finance and its relationship with economic growth, which lays a foundation for theoretical analysis of the impact of consumer finance on economic growth. In today's social and economic form, the development of consumer finance is conducive to promoting the transformation of China's economy from investment-oriented to consumption-oriented, enhancing the pulling role of consumption in economic development, and thus contributing to the transformation of the mode of economic growth and sustainable economic development. At the same time, the test results of different economic regions show that the impact of consumer finance on economic growth is different. The contribution of Eastern region, central region and western region to economic growth decreases in turn, so the development of consumer finance plays an important role in economic growth.


Consumer Finance, Credit System, Economic Growth