Operation mode and effect test of rural revitalization promoted by financial inclusion based on a case study of Yueqing of Zhejiang

¹ School of Economics, Zhejiang University of Finance and Economics (ZUFE), Zhejiang, P.R. China
² Center for Regional Economy and Integrated Development, Zhejiang University of Finance and Economics (ZUFE), Zhejiang, P.R. China
³ Center for Economic Theory and Sustainable Development Studies, Zhejiang University of Finance and Economics (ZUFE), Zhejiang, P.R. China

^* Corresponding author: xxwang@zufe.edu.cn

Received: 19 November 2019
Accepted: 5 February 2020

Abstract

Financial inclusion is a powerful push to realize the strategy of rural revitalization which is the “compass” of the work of agriculture, rural areas and farmers in the new era. The Strategy of Promoting Rural Revitalization by Financial Inclusion has been practiced in some areas, but there is a lack of the effect of practice and the summary of successful modes in academic researches. In this paper, taking Yueqing, Zhejiang Province, the pioneer of financial inclusion, as an example, the “Yueqing mode” of financial inclusion promoting rural revitalization was discussed based on the grounded theory, and factor analysis and multiple linear regression were further used from the perspective of residents’ subjective perception to test the actual effect of “Yueqing mode”. The results show that financial inclusion can actively promote the implementation of rural revitalization strategy, which is mainly reflected in the improvement of the living environment and quality of life.