Digital Finance Drives High-Quality Economic Development

Abstract

It can be defined as the use of digital technologies by traditional financial institutions as well as web-based enterprises to facilitate financing, payments, investment, and other innovative financial business models. High-quality economic development aims at facilitating the shift of economy towards quality-driven growth through comprehensive reforms and innovations with the focus on sustainable development, social inclusion, innovation-based growth and environmental conservation. With constant developments in information technology moving rapidly, digital finance has become increasingly important to the world economy, and has become one of the most significant drivers of innovation in financial systems. Not only it helps to popularize financial services but also makes an important contribution to enhancing economic efficiency, optimizing the allocation of resources and promoting high-quality economic development. In this paper, it will discuss the present situation and tendencies of the development of digital finance, its position in ensuring the high-quality economic development, and will provide policy suggestions to make it more effective in this aim.