Since the reform and opening up, the per capita income of farmers in Hebei has kept increasing. In this context, increasing the number of rural credit institutions, easing the credit guarantee conditions, deepening the reform of the rural credit system, and improving the efficiency of rural credit and use will be effective ways to relieve the constraints of the farmers' credit, increase the income of farmers and improve the consumption level of the farmers, as well as to realize the great-leap-forward development of the rural consumer market in our province. In addition, the continuous improvement of farmers' income level and consumption level will provide broad space for the development of rural credit market. At the same time, it benefits the increase of farmers' income level and the promotion of the level of consumption to some extent; and the promotion of the farmers' consumption level has laid a material foundation for the development of the rural credit market. In order to clarify the relationship between the two, based on the 1980-2016 years' time series data in Hebei Province, this paper adopts time series data. Before the regression analysis, the ADF method is used to test the stability of each variable, to avoid the phenomenon of pseudo regression in the model and to determine the single whole order, and then the Johansen long-term cointegration test is carried out to determine whether there is a co-integration relationship between the living consumption structure of farmers and the rural credit in Hebei. Secondly, VAR model is established to select a suitable lag stage, and the stability of the model is also investigated. Then, the Granger causality test is carried out to test whether there is a mutual influence between the variables, and whether or not each other can be a predictor of the change of another variable. Finally, through the impulse response and variance decomposition method, the dynamic changes of farmers' living consumption structure and rural credit are analyzed under the impact of each variable in the VAR model, and the contribution degree of the variables is also analyzed. The results show that there is no consistency between the living consumption structure of farmers and the long-term and short-term relationship between rural credits. In the long run, it is negative correlation, but in the short term it is the opposite, and the contribution of farmers' living consumption structure to rural credit is far greater than the contribution of the reverse situation. In order to realize the virtuous circle of the two, Hebei province should refine them from the aspects of enriching supply and demand subjects of rural credit, improving the rural credit and use efficiency, and relaxing the demand for the credit guarantee of consumer goods.
