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Research on the Current Status and Enhancement Strategies for Digital Financial Literacy among Chinese Farmers

Author(s)

Zijun Li1, Guangming Song2,*

Affiliation(s)

1School of Business, Shaoguan University, Shaoguan, Guangdong, China 2School of Tourism and Geography, Shaoguan University, Shaoguan, Guangdong, China *Corresponding Author

Abstract

In the context of the profound integration of the digital economy and inclusive finance, digital finance has emerged as a pivotal force in alleviating rural financial exclusion and propelling rural revitalization. The digital financial literacy of farmers, meanwhile, represents the linchpin determining their ability to effectively harness the dividends of digital finance. This paper commences by precisely defining the connotation of digital financial literacy. Subsequently, it conducts a systematic analysis of the current state of Chinese farmers' digital financial literacy. Specifically, it reveals several aspects: first, there is a lack of strong awareness among farmers to engage in digital finance; second, the extent of their digital finance utilization remains shallow; third, their grasp of financial knowledge is restricted; and fourth, their capabilities in applying digital technologies are feeble. In light of these issues, this paper puts forward five strategies for enhancement. These include intensifying the construction of rural digital infrastructure, offering financial knowledge education and training programs, altering farmers' traditional mindsets, developing products tailored to rural requirements and streamlining operation procedures, and fortifying the rural financial services provided by financial institutions. The findings of this study can serve as a theoretical reference and practical guide for optimizing the rural digital financial service system, improving farmers' digital financial literacy, and enabling farmers to partake in the achievements of the digital economy.

Keywords

Digital Financial Literacy; Chinese Farmers; Enhancement Strategies；Digital Finance; Rural Financial Services

References

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