China has moved into a new stage of its fight against poverty, where the further raising of rural household income is of great importance. Health risk is one of the biggest obstacles to the poverty reduction progress. Therefore, how to cope with the negative effects of health risks has attracted the attention of scholars, especially in the background of the global outbreak of COVID-19. In this paper, we try to explore whether mobile payment, a new form of payment, can improve the income of rural households and mitigate the lower income condition caused by health risks in China. Using data from the 2017 China Household Finance Survey, we found: (1) mobile payment can substantially increase rural household income; (2) health risks will lower the income of rural residents, but mobile payment can lessen this negative effect. Mechanism analysis indicates that mobile payment is likely to ease liquidity constraints, increase social interaction, and stimulate entrepreneurship for rural households. We advised the government to promote mobile payment adoption in rural areas and enhance its design. Additionally, better medical resources should also be made available to rural households.

Farmers’ land transfer practices optimize the allocation of agricultural resources by transferring them to more efficient operators. This enhances agricultural productivity and advances rural revitalization. However, due to the lack of financial institution outlets in rural areas, the availability of financial services in rural areas is limited, which in turn hinders the transfer of rural land. This study examines the impact of digital financial inclusion, characterized by the deep integration of internet technology and financial services, on farmers’ land transfer behavior in China. The study uses data from the China Family Panel Studies (2012–2022) and provincial digital financial inclusion data. The results show that digital financial inclusion significantly promotes rural land transfer-out. The mechanisms reveal two pathways: (1) digital financial inclusion expands non-agricultural entrepreneurship by easing credit constraints and reducing reliance on land livelihoods; (2) it increases participation in commercial insurance, mitigating risks of land abandonment. Heterogeneity analysis reveals stronger effects in eastern China and among educated households. Theoretically, the study identifies the dual role of financial technology in reshaping rural land markets through credit access and risk management. Practically, it reveals how DFI influences land transfer behavior, providing a basis for the government to formulate policies that combine the two, ultimately enhancing the production capacity, operational efficiency, and market competitiveness of smallholder farmers. The findings offer global insights for developing countries that are leveraging digital finance to activate rural land markets and achieve digital financial inclusion.

Effectively harnessing the productive potential of local government debt while mitigating financial risks is critical for urban sustainable development. Focusing on the standardized development phase of local government debt in China, this study examines how local government debt affects green technological innovation using Chinese A-share listed firms from 2015 to 2021. We find that regulated explicit debt significantly promotes firms’ green innovation through three channels: green bond issuance, digital infrastructure investment, and improved firm profitability. In contrast, implicit debt exerts a nonlinear inhibitory effect, with significant negative impacts only after a threshold is exceeded. Heterogeneity analysis shows stronger effects in developed regions, areas with more optimized industrial structures, and state-owned, large, and high-ESG firms. Our findings suggest that optimizing debt structure and directing funds to productive green and digital sectors can effectively drive urban green innovation.