1、Digital Financial Inclusion and Income Inequality in China Yan Shen,Fei Han,and Yanlong Li WP/25/WP/25/71IMF Working Papers describe research in progress by the author(s)and are published to elicit comments and to encourage debate.The views expressed in IMF Working Papers are those of the author(s)a

2、nd do not necessarily represent the views of the IMF,its Executive Board,or IMF management.2025 APR*Yan Shen(Institute of Digital Finance and National School of Development,Peking University),Fei Han(IMF),and Yanlong Li(Institute of Digital Finance,Peking University).The authors would like to thank

3、Helge Berger,Paul Cashin,Alexander Copestake,Natan Epstein,Sonali Jain-Chandra,Agnija Jekabsone,Kenneth Kang,Joong Shik Kang,Nir Klein,Gabriel Soderberg,Yizhi Xu(allIMF)and Bo Zhao(National School of Development,Peking University)for guidance and valuable comments.All errors are ours.The views expre

4、ssed in this paper are those of the authors and not necessarily the views of the IMF,its Executive Board,or IMFmanagement.2025 International Monetary Fund WP/25/70IMF Working Paper Institute for Capacity Development Digital Financial Inclusion and Income Inequality in China Prepared by Yan Shen,Fei

5、Han,and Yanlong Li*Authorized for distribution by Natan Epstein April 2025 IMF Working Papers describe research in progress by the author(s)and are published to elicit comments and to encourage debate.The views expressed in IMF Working Papers are those of the author(s)and do not necessarily represen

6、t the views of the IMF,its Executive Board,or IMF management.ABSTRACT:This paper uses both macro and household-level data to examine the relationship between digital financial inclusion,measured by the Peking University digital financial inclusion index,and income inequality in China.We find that a