Abstract:Based on the provincial panel data from 2011 to 2020, the systematic GMM method and the mediating effect model were used to investigate the impact of digital financial inclusion on manufacturing upgrading, and to test the transmission mechanism of technological innovation, human capital and consumption upgrading in the process of digital financial inclusion affecting manufacturing upgrading. The results show that the development of digital financial inclusion can significantly promote the upgrading of manufacturing industry; Technological innovation, human capital and consumption upgrading have a certain transmission effect, but they all show a hiding effect. In view of this, it is necessary to further improve the digital financial inclusion system, technological innovation service mechanism, cultivate high-level industrial talents, stimulate consumption, etc., and give full play to the promoting role of digital financial inclusion in the upgrading of manufacturing industry. |