Abstract
This paper selects the China Household Finance Survey (CHFS) for 2017, 2019, and 2021. It examines the differences in the effects of consumer finance play between rural and urban areas using the final screened 9,875 households as the research sample. It is found that household savings, insurance, and stock assets are positively related to household consumption expenditure and consumption structure upgrading; household consumption credit can promote developmental consumption expenditure, and the promotion effect of consumer finance factors is more evident for non-farm households.
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