Research on the Influence of Digital Finance on Residents’ Service Consumption Expenditure

Under the background of the “post-epidemic” era, household consumption, as an important pillar force of economic development, plays an increasingly important role in China’s economic growth. Among them, the increase of residents’ service consumption expenditure reflects the improvement of residents’ living standards and plays a vital role in adjusting and optimizing China’s market structure and stimulating economic recovery after the epidemic. As an indispensable force in the development of the modern market economy, finance has a close connection with residents’ consumption. In recent years, with the rapid development of China’s Internet economy and the improvement of infrastructure construction, as an emerging financial model, digital finance has developed rapidly in China’s financial market. Based on reading domestic and foreign research results, this paper studies the impact of the popularization of digital finance on service consumption expenditures of residents in China from the theoretical and empirical levels. Through research, it can be found that (1) from a national perspective, the increase in the popularity of digital finance has a positive impact on residents’ service consumption expenditure. (2) From the perspective of digital financial structure, diversified financial services and, comprehensive financial services have a greater impact on residents’ service consumption expenditure. Based on the above research conclusions, this article suggests strengthening the construction of digital finance in the central and western regions, increasing residents’ cognition of digital finance, and improving digital financial innovation.