The Mechanism, Problems and Suggestions of Internet Consumer Finance to Boost Residents' Consumption under the New Pattern of Double Cycle

Abstract

In the new development stage, how to effectively play the role of Internet consumer finance in promoting residents' consumption upgrading has become the key to building a new pattern of double-ring development. Through total volume, quality upgrading, structure optimization, internal linkage and other effects, Internet consumer finance promotes the upgrading of Chinese residents' consumption, dregs the domestic circulation channels, and promotes the "double cycle" benign interaction at home and abroad through internal and external linkage. At present, in the process of promoting China's consumption upgrade, Internet consumer finance still has problems such as insufficient coverage, lack of differentiation of products and services, insufficient protection of consumer rights and interests, limited risk control ability, and increasing economic uncertainty. In the future, under the premise of controllable risks, we should deepen the market sinking, focus on the trend of "new consumption", practice the principle of "industry supervision + institutional self-discipline + consumer self-protection", deepen the application of financial technology, innovate economic policies, and improve the efficiency of Internet consumer finance. Promote the efficiency of residents' consumption upgrading to promote the construction of a new pattern of "double cycle" development.