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Analysis on the Next Generation of Artificial Intelligence Development Plan and Digital Financial Inclusion: Evidence from China

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  • Aili Zhang
  • Xinyu Sun

Abstract

In 2017, the State Council of China released the Next Generation Artificial Intelligence Development Plan in order to seize the opportunity to develop artificial intelligence. Based on a panel dataset from 31 regions in China from 2014-2019, this study utilizes a difference-in-difference model to examine the impact of the release of the Next Generation of Artificial Intelligence Development Plan on the development of digital financial inclusion, and then utilizes a spatial difference-in-difference model to examine the spatial spillover effect of the release of the plan. In this study, results demonstrate that the release of the Next Generation of Artificial Intelligence Development Plan had a significant impact on the promotion of the development of digital financial inclusion, as indicated predominantly by the depth of its use and digitalization. Additionally, the spatial difference-in-difference analysis shows that the impact of this plan has a significant spatial spillover effect, which promotes the development of digital financial inclusion in the region, as well as increases the level of digital financial inclusion in the surrounding areas. The development of digital financial inclusion has been accompanied by a spatial agglomeration. JEL classification numbers: O25, O33, R58.

Suggested Citation

  • Aili Zhang & Xinyu Sun, 2022. "Analysis on the Next Generation of Artificial Intelligence Development Plan and Digital Financial Inclusion: Evidence from China," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 12(6), pages 1-1.
    • Handle: RePEc:spt:apfiba:v:12:y:2022:i:6:f:12_6_1
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    Cited by:

    1. Duresa Kilaj & Aulonë Cenaj, 2026. "Examining the role of artificial intelligence in shaping FinTech solutions for a sustainable economy," Romanian Journal of Economics, Institute of National Economy, vol. 62(1(71)), pages 289-301, June.
    2. Li, Luxi & Ye, Qing & You, Jialu & Chen, Zhicheng, 2025. "Does AI mitigate climate risk and reduce the cost of capital? Evidence from firm-level data," International Review of Financial Analysis, Elsevier, vol. 108(PB).
    3. Weidong Huo & Jintao Li, 2026. "Does digital transformation exacerbate systemic financial risks in banks? Evidence from listed commercial banks in China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 12(1), pages 1-43, December.

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    Keywords

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    JEL classification:

    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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