Addressing the critical issue of wealth inequality in rural areas is essential. Li Jiashan et al. (2021) highlight this through their discovery of a high Gini coefficient of 0.8 among Chinese farmers, indicating severe disparities. Consequently, reducing this inequality is key to improving farmer well-being and advancing rural revitalization. This paper focuses on the role of Fintech in promoting economic participation and alleviating wealth inequality among farmers.

Utilizing data from the China Household Finance Survey, this paper employs advanced analytical methods to analyze the impact mechanism of Fintech on wealth inequality among farmers. The findings suggest that Fintech significantly alleviates wealth inequality, particularly benefiting farmers with limited income and education. Fintech is instrumental in decreasing financial exclusion, enhancing financial information acquisition ability, fostering non-agricultural entrepreneurship, and thus effectively reducing wealth inequality.

This paper proposes the following policy recommendations: Strategies should be formulated to strengthen the promotion of Fintech in rural areas, especially in areas with weak infrastructures. Financial institutions should be encouraged to develop suitable financial products and services for farmers with limited income and education. The application of rural Fintech should be strengthened, such as using big data for credit assessment and to alleviate credit constraints. Farmers’ ability to acquire information and their interest in financial learning should be improved.

The contributions of this paper are that: It analyzes the impact of Fintech on wealth inequality among farmers, expanding the research on the factors influencing wealth inequality. It constructs a Fintech adoption index based on micro data, providing a quantitative basis for the popularization of Fintech in rural areas. From the perspectives of financial exclusion, information acquisition, and non-agricultural entrepreneurship, it explores the impact mechanism of Fintech on wealth inequality, providing theoretical and empirical support for Fintech to help farmers achieve common prosperity. These insights are invaluable for understanding and alleviating wealth inequality among farmers, formulating relevant policies, and promoting rural common prosperity and comprehensive revitalization.