Research On The Innovation And Development Of Rural Financial Products In Heilongjiang

With the deepening of the new round of land system reform,China's rural arable land resources are further transferred and concentrated,scales of farmers production and operation are further expanded,land output rate,labor productivity and resource utilization rate are also further improved,the development of modern agriculture has begun to take shape.At the same time,various new types of agricultural business entities are so prosperous that demand more diversified,high-end rural financial products,but traditional products and services have been unable to meet the needs of the development of modern agriculture,we must make innovation in products type,system arrangement and technical application as soon as possible.As the first major grain producing province of China,because of more abundant land resources,larger per capita arable land area and other factors,the degree of mechanization of agriculture in Heilongjiang has been ahead of other provinces,but there are still gaps compared with the development objectives of modern agriculture,such as scale management of rural land,cultivation of new business owners,continuous increase of grain production and farmers' income,etc.The eighteen major and nineteen major reports of the party all pay attention to agriculture as an important chapter,and support the development of modern agriculture through the design of the top level system.Especially in the new round of land system reform,through the guidance of modern large-scale agriculture,Heilongjiang's farmers needs more funds to carry out large-scale and mechanized of agricultural production,and different business entities also urgently need more diversified,multi-level rural financial products.In the rural land management right mortgage,agricultural insurance and agricultural products futures delivery business,Heilongjiang is the first batch of pilot provinces in China.After several years of efforts,the province has maintained a good upward trend in agricultural loan balance,agricultural loan ratio,agricultural insurance income,agricultural insurance compensation,and so on.However,by comparing with other main grain producing provinces or non grain producing provinces,it is easy to find that there are some problems in the supply of some rural financial products,and also there is room for improvement in the innovation of related products and services.The research takes the new round of land system reform as the its background,takes the rural financial products and their innovation as the its object,and takes agricultural protection,financial supply and demand,and financial pricing as the theoretical basis,from four aspects of “product demand,product supply,trading system andtechnological support”,makes a deep analysis of many factors that influence the innovation of rural financial products in Heilongjiang under the new round of land system reform,points out the main types of supply and demand of rural financial products and the main direction of institutional reform and technical improvement in the province.Moreover,the research adopts the methods of data investigation,case introduction,analytic hierarchy process,index analysis and empirical analysis to comprehensively evaluate the innovation and development level of rural financial products in the three provinces of Northeast China,gets the provinces' ranking in different financial products supply fields,and finally puts forward the countermeasures for the innovation and development of rural financial products in Heilongjiang based on the preceding analysis of “factor analyses,evaluation results and experience introduces”.The main contents and innovations of this paper are as follows:It summarizes the current situation of rural financial products innovation in Heilongjiang,finds problems in it,for example,inadequate rural financial products innovation is difficult to adapt to the development of modern agriculture,active willingness of supply innovative rural financial products is not strong for agricultural financial institutions,current rural financial transaction system has become a bottle neck of financial products innovation,lag of modern financial technology application is influential on the efficiency of resources allocation.Based on the new classical economists' method of distinguishing “to change the equilibrium between supply and demand factors”,starting with the innovation of rural financial products in Heilongjiang,from the angle of demand and supply,and through the two levels of “exogenous factors” and “endogenous factors”,the influencing factors of the demand and supply for the innovation of rural financial products in Heilongjiang are analyzed,and according to the research paradigm of “demand,supply,system and technology”,the influencing factors of the transaction system and the factors affecting the technical support of the innovation of rural financial products in Heilongjiang are also analyzed.And then combined with the actual characteristics of the agricultural production and management in Heilongjiang,against the background of the new round of land system reform and following the theoretical logic of “demand induced,cost utility and resource allocation”,it points out the main types of supply and demand of rural financial products in Heilongjiang and the main direction of system reform and technical improvement in the future.Taking the rural financial products and innovation as the main body of evaluation,through the construction of 3 evaluation levels and the selection of 4 first level indexes,15 second level indexes and 26 third level indexes,using AHP and comprehensive index method,it comprehensively evaluates the innovation and development level of rural financial products from three provinces in Northeast China from 2006 to 2015.According to the overall and sub index ranking results of Heilongjiang in the region,from the perspective of coordinated development of regional rural finance,it identifies that the rural financial product innovative development in Heilongjiang tends to be demand-guided and the supply is insufficient.Heilongjiang lags behind the other two provinces in some rural financial product innovation,such as loan,futures and option.The levels of both general innovation development andsupply growth are lower than that of increasing demand,and here exists a problem of mismatch between supply and demand.The evaluation results can provide a basis for the further empirical analysis.It introduces the innovative practices and successful cases of some domestic provinces in the field of rural financial products.Including Jilin,Liaoning,Henan and other grain production provinces,we focus more on the innovation practice of rural financial products on how to support the main body of various scale management,while containing Guangdong,Zhejiang,Shanxi and other non grain production provinces,we pay more attention to how to meet the general scale or small scale business entities in rural financial products demand.In view of the summary problems and analytical reasons,combined with the successful experience of other provinces and the ranking of three provinces in Northeast China,it puts forward a series of strategies of rural financial products innovation and development in Heilongjiang,which are more targeted implementation of rural financial products supply side reforms in the region.In the light of these countermeasures,we can seize the focus of reform and pad the short of products,by means of the reduction of low-end surplus and the development of high-end derivative,match the supply and demand of products,improve the efficiency of resources allocation,and serve the real economy of agriculture.The main innovations of this paper are to improve the new theory system of rural financial products innovation,and build a new paradigm for the research on the innovation of rural financial products in Heilongjiang;summarize the characteristics of the new round of land system reform and the characteristics of regional agricultural development in Heilongjiang,and put forward the countermeasures for the innovation and development of rural financial products in the province;sum up the factors affecting the innovation of rural financial products in Heilongjiang,and give a comprehensive outlook on the type of demand,the direction of supply,the reform of the system and the application of the technology in the rural areas of the province;establish the comprehensive evaluation index system and model of the innovation and development level of rural financial products,and use the analytic hierarchy process and the comprehensive index method to carry out an empirical study on the rural financial development of the three northeast provinces.