| Inclusive Financial System refers to a financial system that can effectively and comprehensively serve all sectors of society and groups.The earliest proposed by the UK is a solution to the financial exclusion.In recent years,Inclusive Financial System has been recognized rapidly in developing countries and has been strengthened between G20 countries.The international community has agreed that the Inclusive Financial System Development Strategy should be established at the national level.So,the Chinese leaders at the G20 summit in 2012 for the first time interpreted the Inclusive Financial System;in 2013,the party's 18 th Plenary Session put forward the "develop Inclusive Financial System";The Fifth Plenary Session of the Eighteenth Central Committee of the Party clearly pointed out that in order to achieve the goal of building a well-off society in 2020,we must implement the concept of "innovation,coordination,green,open and shared" and adhere to the development of Inclusive Financial System.It is necessary to strengthen the three rural,small micro-enterprises and low-income people to serve the efforts of inclusive financial system as the "thirteen" period of financial reform.China's Inclusive financial development strategy is not only a response to international financial development issues,but also on China's Inclusive Financial System practice summary and reflection.The focus of Inclusive Financial System is in rural areas;the degree of rural financial system and the level of rural public financial development level directly determines the level of development of a country or a region of Inclusive Financial System.However,due to the existence of financial exclusion,the rural economic subject is difficult to obtain the financing of the formal financial system.In recent years,the degree of financial marketization has been improved rapidly.The marketization and the commercialization of China's banking industry have spread to rural financial institutions,Rural credit cooperatives of the shareholding system in the greatly enhance the capital of rural credit,to ease the rural credit cooperatives bad loans,but exacerbated the financial exclusion The financing problem faced by Rural small and medium enterprises is not effectively cracked,but even has been more serious.Since 2007,the number of agricultural banks in China has decreased by 2186 in 7 years.The proportion of loans to agriculture loans in China is declining,and the proportion of farmers who have obtained loans from rural credit cooperatives has dropped slightly year by year.This is does not match with the policy that the country to guide funds to small and medium enterprises,farmers and other vulnerable groups Since 2007,the method of extensively establishing village banks and microfinance companies have not effectively alleviate the financing difficult these rural banks have actually become a large bank holding subsidiaries;county funds are flowing to big cities through these rural banks.Therefore,the country learns from foreign experience in the development of Inclusive Financial System,proposes the development of Inclusive Financial System strategy from the national level,focuses thee Inclusive Financial System services targets mainly on small micro enterprises,farmers,urban low-income people,poor people and other vulnerable Group,and the construction and perfection of rural popularization financial system must be the focus of future rural financial development.Inclusive Financial System advocates that the right to credit is the basic right of the people,advocating that everyone should be equal and has fair access to financial services,which has a distinctive humanistic care and an ethical constraint on the development of financial institutions,that is,for financial institutions,should acquire their own profits,at the same time,should protect the basic financial services for everyone.Therefore,Inclusive Financial System is essentially a reflection of financial development in recent years,as well as a reflection on the theory of financial development;Inclusive Financial System needs to achieve financial innovation,but the existing financial system can not meet the requirements of Inclusive Financial System development,which requires the system,product,supervision and other aspects of innovation;Inclusive Financial System is a specific application of financial ethics,with a strong pertinence;Inclusive Financial System pays attention to the object and takes measures to determine its strong human Caring of anti-poverty and anti-financial unbalanced development.Chapter 1 is an introduction.This chapter focuses on the provision of financial services for all by combing domestic and international literature on Inclusive Financial System and rural finance,which aims to reduce the poverty of the poor,while rural finance focuses on promoting rural economic development through rural financial development,whose goal is to increase farmers' income and thereby reduce farmers' poverty.Inclusive Financial System and rural finance are two different levels of financial micro and macro,the goal is to reduce poverty,and farmers are the largest subset of the poor,and the combination of rural finance and Inclusive Financial System has a natural rationality.Research focus is also the rural Inclusive Financial System.Chapter 2 is the definition of Inclusive Financial System and rural finance development.This chapter reviews the concept of universal financial and rural financial development by reviewing and reflecting on the concept of universal financial development.It points out that monetary finance has the characteristics of inclusive from the beginning and embodies the financial ethics such as equality,fairness,justice and sharing.The rural financial development is no longer in simple financial scale;changes in structure and efficiency are no longer just marketization and liberalization of interest rates,exchange rates,access conditions,and no longer simply emphasize the impact of the overall financial function on economy,but instead emphasize the impact on all individuals,especially for poverty,the impact of population,emphasizing equality,fairness,justice and sharing.Therefore,rural financial development should also be Inclusive Financial System development,which is a new concept of development.Chapter 3 is the basic theory of rural finance development in China.This chapter examines the evolution of the theory of financial development at home and abroad and the evolution of the theory of rural financial development,pointing out that the development path of financial development theory is the view of financial structure-financial liberalization-financial function view-financial-financial exclusion(Inclusive Financial System).The development path of financial theory is the theory of agricultural credit subsidy-the theory of rural financial market-the theory of incomplete competition market-the theory of financial development right;the development path of domestic rural financial theory is the rural policy financial theory-rural cooperative finance theory-rural three-dimensional finance Theory-Rural Inclusive Financial System Theory.It can be seen that scholars at home and abroad on the theory of rural financial development have found the same convergence point,that is,rural Inclusive Financial System.Chapter 4 is the rural finance supply and demand game model and Inclusive Financial System constraints.Based on the game theory,this paper analyzes the factors that lead to the shortage of supply and demand of rural financial funds.The results show that the financial suppression will reduce the rural financial supply,and the effective market supervision will lead to the improvement of rural financial demand.However,the development of rural inclusive Financial System is confronted with many constraints such as insufficient rural financial supply,rural financial restraint,agricultural risk and earnings asymmetry,excessive government intervention,high cost of rural financial institutions and lack of rural financial awareness.These constraints will bring about a series of consequences,such as the inefficiency of rural financial resources allocation,the lack of equal rights in rural credit and the substantial outflow of rural funds.Chapter 5 is an empirical study of inclusive finance and rural financial development in China.Based on the China's inclusive financial indicator system constructed by the People's Bank of China and based on the actual situation of rural financial development,this chapter proposes an indicator system for measuring the development level of rural inclusive finance,and further constructs a model to analyze the factors affecting the development of inclusive finance.The rural financial development model is constructed to study the rural financial development from the perspective of inclusive finance.It is pointed out that the improvement of the inclusive financial level has a significant effect on rural financial development,and it also helps to alleviate the income gap caused by the imbalance of financial development between regions.Chapter 6 is a countermeasure to promote rural financial development in China based on the perspective of inclusive finance.The empirical analysis shows that the improvement of inclusive financial level plays an important role in promoting rural financial development.Therefore,this chapter combines the constraints and influencing factors faced by rural inclusive finance in China,as well as the problems in practice,and points out the countermeasures and suggestions for promoting the level of rural financial development.To increase the supply of rural inclusive financial infrastructure,promote the supply of diversified rural inclusive financial institutions,innovate financial instruments,strengthen the supply of rural inclusive financial products,and actively promote the supply of rural inclusive financial systems,through the improvement of the level of inclusive finance,Achieve the goal of rural financial development in China.The innovation of this paper is as follows:(1)monetary and financial have the characteristics of inclusive from the beginning,which embodies the financial ethics such as equality,fairness,justice and sharing;rural financial development is no longer a simple financial structure change,financial liberalization or financial function evolution,instead emphasizing the impact on all individuals,especially for the poor,emphasizing equality,equity,justice and sharing(Inclusive Financial System).(2)Theoretical innovation: For the first time,the rural inclusive finance is a new perspective to study rural financial development.It is proposed that the realization of rural inclusive finance is a new stage of rural financial development theory,and the inclusion of universal benefits in rural financial development theory(equality,Fairness,justice,and anti-poverty)incorporate inclusive finance into the model of endogenous growth in rural economy,and construct a theoretical framework for the relationship between inclusive finance and rural financial development and rural economic growth.(3)based on the game theory analysis method,the factors that lead to the shortage of supply and demand of rural financial capital are discussed.The interest game between rural financial supply and demand makes the rural popularization financial level seriously inhibited and the rural financial development is facing serious financial constraints.This paper puts forward that the rural peasants' credit right should be emphasized in the index system through the reflection on the calculation of the inclusive financial index system proposed by domestic and foreign scholars,and this shows that the development of rural Chinese inclusive financial level is slow.The shortcoming of this paper is that the measurement of the inclusive finance in rural areas may affect the analysis results because of the channels of data acquisition,inconsistencies in the statistical sources of the sources and the different methods of the merged data.In addition,On the connotation of Inclusive Financial System,although made a summary,but because of the limited level,there may be improper. |
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