In recent years, China’s financial markets have come under increasing scrutiny. In order to explore the impact of financial literacy on urban household investment in the risk financial market, this paper used the micro-data of the 2019 China Household Finance Survey (CHFS) to start from two perspectives: household risk financial investment and the number of investment financial products, namely the breadth of investment. By constructing a probit model and ordered probit model for empirical analysis, the main conclusions are as follows. Benchmark regression results show that the improvement of financial literacy can significantly promote urban households to make risky financial investments and can significantly broaden the types of risky financial investments. Based on the IV-probit model and two-stage least square method, the endogeneity test using the economic and financial information attention degree as the instrumental variable showed that the model results were credible. The robustness test showed that the model results were basically correct. Furthermore, the mechanism analysis found that the use of fintech played an intermediary effect in the process of financial literacy affecting urban household risky financial investment and the amount of investment. This indicates that the improvement of financial literacy can improve the probability of using fintech, thus promoting the household risky financial investment behavior. Heterogeneity analysis based on risk attitude showed that financial literacy had a greater effect on the improvement in the risky financial investment behavior of risk-inclined families, followed by risk-neutral families, and had the least effect on risk-averse families. The research conclusions of this paper are of practical significance to solve the problems related to urban household financial market investment. Therefore, this paper puts forward some suggestions for reference, especially in terms of financial education and the digital economy.

In recent years, the rapid development of digital inclusive finance in China has affected many aspects of social development, especially economic development, which has a good driving force. At the same time, the development of the fishery economy has been challenged by many aspects, and digital inclusive finance may inject new development momentum into the development of the fishery economy. Using the digital financial inclusion index and relevant data on the fishery economic development of 31 provinces, autonomous regions, and municipalities in China from 2013 to 2020, this paper empirically analyzes the impact of digital financial inclusion on provincial fishery economic development through the dual fixed effect panel data econometric model of controlled region and time. The main conclusions are as follows: The benchmark regression results show that digital inclusive finance can positively promote the development of the fishery economy at the significance level of 1%, and the digital development degree of digital inclusive finance also has a significant role in promoting the development of the fishery economy. After the endogeneity test of the system GMM model and a series of robustness tests, the model results are still significant. The results of the moderating effect model show that technological innovation plays a positive moderating role in the impact of digital inclusive finance on the development of the fishery economy, while the upgrading of the industrial structure plays an inhibitory role. Based on the results of the β convergence model, it can be found that there is no convergence in the level of fishery economic development among provinces. The development of digital inclusive finance will play a greater role in promoting areas with better fisheries and economic development, thus widening the development gap between regions. Finally, the paper discusses the effect of the conclusion and the improvement, which is of reference significance for the coordinated development of the fishery economy based on finance between regions.