Abstract: Based on the sample data of 30 provinces and cities in China from 2016 to 2021, the impact of new urbanization on rural residents’ consumption and the intermediary role of digital inclusive finance between the two were explored, and the regional heterogeneity on this basis was further verified. The results showed that new urbanization had a significant effect on rural residents’ consumption. Digital financial inclusion played an intermediary effect in the positive impact of new urbanization on rural residents’ consumption. The analysis of regional heterogeneity showed that the new urbanization in the eastern region could promote rural residents’ consumption, while the central and western regions were obstructed. According to the research conclusions, in the context of the development of new urbanization, the government should give full play to the role of digital inclusive finance and further promote the consumption of rural residents.

Key words: new urbanization, digital technologies, digital inclusive finance, rural residents’ consumption, regional heterogeneity