Research on the Well-being Effects of Digital Financial Inclusion in China from a Common Wealth Perspective

The digital economy is an important force in promoting the achievement of common prosperity. It is conducive to accelerating the efficient flow of factors of production, promoting the sharing of high-quality resources, and advancing the equalisation of basic public services. This paper systematically reviews the well-being effects of digital inclusive finance (DIF) from the perspective of the commonwealth, classifies and summarises existing literature in the academic community, and focuses on the role and challenges it in reducing poverty and regional income disparities at the macro level, reducing household financial risks and enhancing household financial resilience at the micro level, as well as improving the sense of well-being of individuals' lives. The main findings suggest that DIF significantly improves the financial stability and economic resilience of low-income groups and promotes coordinated regional economic development and social well-being and stability. However, there are differences in the effects across regions and groups, and further research and practice are needed to address these differences. By integrating and sorting out various research results in the academic community, this study provides a concrete and theoretical explanation of the beneficial role that DIF plays in facilitating China's successful implementation of shared wealth, filling the gaps in the review-type literature in this field.