Drivers, Challenges and Suggestions for the Development of Digital Finance in China

With the rise of digital financial models closely related to information technology, the deep integration of finance and digital technology in China has become a trend. Based on the practice of digital finance in China, this paper proposes the driving forces for the development of digital finance in China: the shortage of traditional financial supply, data accumulation and technological progress, and the strong support of national policies. In view of the problems of weak ethical awareness, low level of digitalization, imperfect credit system, prominent data security problems, serious digital divide problems, and imperfect regulatory mechanism in the development of digital finance in China, a series of suggestions to promote the orderly and healthy development of digital finance are proposed, such as paying attention to the ethical issues of digital finance and accelerating the construction of digital infrastructure.