Abstract: It's an important goal of China's current economic development to explore how the first prosperous regions lead the latter prosperous regions to common prosperity.Based on the spatial panel data of 276 Chinese cities from 2011 to 2019, this paper explores the spatial impact mechanism and spillover effect of consumption growth in the first prosperous regions on consumption growth in the latter. Paper finds that consumption growth in the first prosperous regions can promote consumption growth in latter prosperous regions through direct and indirect spatial spillover effects. The direct spatial spillover effect shows that the latter prosperous regions imitate the consumption habits and behaviors of the first, which realizes the exemplary role of consumption growth in the first prosperous regions. The indirect spatial spillover effect reflects the influence of the first prosperous regions on the supply side of the latter, that is, consumption growth in the first prosperous regions promotes per capita output in the latter prosperous regions through supply channels, and then promotes consumption growth in the latter prosperous regions through increased income distribution. However, we find that in terms of financial channels and means to realize consumption, consumption growth in the first prosperous regions inhibits the development of digital inclusive finance in the latter prosperous regions. Therefore, based on the operation of market mechanism, the government needs to use a variety of policy means to remove the obstacles facing the spatial spillover of consumption growth, and creates favorable conditions for the market mechanism of the first prosperous regions driving the latter.

Key words: common prosperity; the first prosperous region drive the latter; consumption growth; consumption imitation; digital financial inclusion; spatial spillover effects