Research Article

Internet Penetration and Regional Financial Development in China: Empirical Evidence Based on Chinese Provincial Panel Data

Table 1

Descriptive statistics of the main variables (2003–2012).

ParameterNumber of observationsMinimum valueMaximum valueMeanStandard deviation

Internet penetration3000.020.680.200.15
Internet penetration in neighboring provinces3000.040.560.210.13
Information industry capital stock (100 million)300182.8775,122.7211,402.8011,014.09
Education level (% junior middle school)3000.020.050.040.01
Education level (% senior high school)3000.000.030.010.00
Education level (% technical secondary school)3000.000.030.010.01
Stock market value (million)30075.84204,030.206022.7118,825.92
Bank deposit (year-end balance, 100 million yuan RMB RMB)300544.3691,589.5114,986.1415,588.60
Bank loan (year-end balance, 100 million yuan RMB RMB)300566.9858,611.2210,371.0010,427.83
Premium income (year-end balance, 100 million yuan RMB RMB)3007.371593.25283.21277.39
Securities transaction volume (millions)30084.02255.09226.96411.01
Stock trading volume (millions)3005.981680.54171.21305.52
GDP per capital (yuan RMB)3003257.0076,074.0020,575.3114,754.56
Consumption level (yuan RMB)3002502.0035,439.008097.255238.15
Per capital disposable income (yuan RMB)3006530.4836,230.4813,638.905579.27
Proportion of finances in GDP3000.010.130.030.02
Securities account opening ratio (%)2400.2915.853.153.19
Property holding level2409956.00795,823.00171,652.0020,447.47