Using the Chinese General Social Survey （CGSS） micro data and a propensity score matching method, the paper conducts an empirical test on the impact of New Rural Social Pension Insurance on different types of consumption of rural residents based on the differences of eight major regions of human geography in China. The study finds that regional variables have a significant effect on the probability of farmers＇ participation in insurance. In propensity score matching model, participation in the new-rural social pension insurance does not have a significant impact on the total consumption of rural households and the consumption of various types. Further robust analysis finds that participating in the insurance promotes various expenditures in the central and northwestern China, but the effect is not significant across the country. The central region has received full subsidies from central government as well as northwestern region, but the rural consumption has not been stimulated. Therefore, it is suggested that under the current regional classification standards （eastern, central and western region）, the proportion of the subsidy from the central government could be appropriately adjusted. Seeond, it is still necessary to publicize the policy. Third, the pension payment should be increased depending on the speed of local economic development and the fiscal level of the central and local governments.
West China Finance
new rural social pension insurance
propensity score matching