Spatial Association and Explanation of China’s Digital Financial Inclusion Development Based on the Network Analysis Method

As an essential direction for developing inclusive finance, digital financial inclusion breaks through the time and space constraints of inclusive finance development and has extensive connections between different regions. However, no research has modelled the network connections and the role and position of different digital financial inclusion development regions. This study constructed the spatial association network of China’s digital financial inclusion development and used the network analysis method and the quadratic assignment procedure (QAP) method to study the structural and locational properties and the influencing factors of the network. We found that (1) although the network had a relatively low density, its connectivity and stability were excellent, and the network structure is not hierarchical; (2) the centrality of some rapidly developing central and western provinces was greater than that of some developed eastern provinces; (3) developed eastern provinces played a net spillover role, driving the development of digital financial inclusion in central and western provinces; and (4) the spatial association was affected by the development level of the PC Internet and economy, the industrial structure, and the spatial adjacency. This study enriches the research on digital financial inclusion and provides a scientific basis for the formulation and implementation of policies to promote the further development of digital financial inclusion.