How will people adopt digital inclusive finance? - Evidence from China

In order to explore ways to enhance financial inclusion in the context of digital economy, this study uses extended UTAUT model, and constructs a structural equation model (SEM) of the factors impacting users' adoption behavior of digital inclusive finance. We collected data through an online questionnaire distributed across villages and towns in remote areas in 18 provinces of China and used Amos26.0 for path analysis and moderating effect. The results show that performance expectations, effort expectations, social influence, and facility conditions have a positive impact on behavioral intention. Perceived risk negatively affects behavioral intention. Financial education and supervision can significantly reduce perceived risk and positively affect behavioral intentions. Based on the individual characteristics of users, age and individual innovation played a moderating role between effort expectation and use intention, financial education and supervision, and perceived risk. Therefore, the key to promoting the development of digital inclusive finance in China lies in increasing investment in capital resources, improving digital infrastructure, and strengthening financial education for inclusive groups.