Research on the Driving Force of Digital Inclusive Finance on Fixed Assets Investment —— Based on the Panel Data of 30 Provinces in China

At present, China’s economic growth rate is decreasing, and the economic situation is under great pressure. As the core force to promote economic growth, investment is particularly important. With the rapid development of digitalization, the contribution of digital inclusive finance to society is gradually increasing, and the relationship between them is worth further discussion. Based on the panel data of 30 provinces in China from 2011 to 2022, this paper empirically tests the influence of digital inclusive finance on the investment level of fixed assets. It is found that digital inclusive finance has a significant role in promoting the investment level of fixed assets. With the development of financial regulation, the influence of digital inclusive finance on the investment level of fixed assets will be significantly different. In addition, the degree of product market development can significantly weaken the promotion of digital inclusive finance to the investment level of fixed assets, while the degree of the non-state-owned economy can significantly enhance the promotion of digital inclusive finance to the investment level of fixed assets. This paper expands the research framework of digital inclusive finance and provides relevant suggestions for the development of the government and the country.