Based on 2014,2016 and 2018 panel data of China Family Panel Studies (CFPS), this paper uses the twoway fixed effect model to analyze the influence of Internet use on household wealth accumulation and distribution.This study finds that using the Internet can significantly increase household wealth and reduce wealth inequality.After using the instrumental variable method to solve the endogeneity problem and the robustness test, the conclusions are still valid.The heterogeneity analysis shows that the use of the Internet for study and work has the largest impact on family wealth accumulation and distribution, followed by the use of the Internet for commercial activities, and the use of the Internet for social entertainment has the smallest impact.Moreover, the use of the internet has a more significant impact on the accumulation and distribution of household wealth in rural and central and western regions.The mechanism analysis shows that Internet use can enhance household wealth and reduce wealth inequality by improving income and financial literacy channel effect.Further analysis shows that Internet use can increase the proportion of household financial and productive fixed assets, and reduce the proportion of housing assets, which reflects the optimization effect of Internet use on the wealth structure of the household.Our study provides new evidence for a comprehensive understanding of the microeconomic effects of the Internet, a new perspective for understanding household wealth accumulation, and a policy reference for promoting common prosperity.

internet; wealth accumulation; common prosperity; financial literacy