Rural Financial System And Learn From International Comparisons

The development of modern agriculture, building a new socialist countryside, can not be separated from the effective support of rural finance. Since the founding of New China, China actively carry out the rural financial institutional reform, achieved remarkable results. Beginning in 1951, China's rural financial centers around the China Agricultural Bank and rural credit cooperatives in the establishment and development, as well as to civil control and the relaxation of credit in general has experienced five stages: the first phase are 1951-1978 years, the establishment of rural credit cooperatives twice with the agricultural bank branches in rural areas combined, delegated to the people's communes, production team management, and贫下中农management, into a collective financial organizations; 1979-1993 are the second phase, the restoration of the Agricultural Bank of China and explicitly support the the objectives of the rural commodity economy. Rural credit cooperatives and the Agricultural Bank of separation, the restoration of the status of the cooperative financial organizations, set up County Rural Co-operatives, and is responsible for the daily management of rural credit cooperatives, rural credit cooperatives in charge of the Agricultural Bank's policy leadership and operational guidance. Opening up of civil credit control, permit civil freely lending, set up a rural credit cooperative foundations and other nongovernmental cooperative financial organization; The third stage is 1994-1996, the establishment of the Agricultural Development Bank of China, rural credit cooperatives and the Agricultural Bank of decoupling by the People's Bank and local regulators. The fourth stage is from 1997-2003, attention to financial risk control, the state-owned banks have shrunk below the county level agencies, the strengthening of civil control of credit, rural credit co-operation to withdraw funds, to carry out reform of rural credit cooperatives, the establishment of corporate governance structure, the management of credit unions to pay by the local government responsible for the formation of a monopoly of rural credit cooperatives. The fifth stage is so far in 2004, supporting rural institutions to expand to all financial institutions to carry out the Agricultural Development Bank credit business reforms, the establishment of China Postal Savings Bank, and some rural credit cooperatives and rural cooperative banking system for rural commercial banks, to encourage the establishment of village banks, loan companies, rural credit union funds and other new types of agricultural financial institutions, has formed a cooperative financial mainly commercial, policy-oriented, cooperative and other financial co-exist and work together to promote rural economic development of rural financial service system.However, because of the historical development of policy support and other factors, the current Chinese rural finance with capital markets, money market, futures market, the rapid development of the city finance a lower level compared to the overall development, there is a grass-roots network the insufficient number of banks, financial institutions, the limited scale , financial products, services, single, service efficiency and quality relatively poor, unable to meet the growing prosperity of the rural economic development and many other questions required.Looking at the world, currently the United States, Japan and other Western developed countries, as well as the same with our country in the developing countries India has set up a complete set of the rural financial system with a full can fit their own rural economic development of rural financial mechanism, its national co-ordinating urban and rural economic development has played a good role-propelled, which is to deepen the reform of China's rural financial mechanism has a good reference. In order to effectively push forward the rural reform of the financial system, the search for suitable development of the rural economy of the rural financial service system, this article on the United States, Japan and other Western developed countries, India's rural financial system conducted in-depth analysis and research, through the study found that their common characteristics: First of all have gradually formed a government-led policy-oriented financial system in rural areas, rural cooperative financial system and rural commercial financial system; Second, in supporting rural economic development to rural cooperative finance as the main body so as to policy-oriented financial and private commercial To supplement the financial and rural cooperative financial institutions in asset size and the number of dots in both a dominant position, and function of commercial banks that can not be ignored; Third, both developed a rural finance the Basic Law, the relevant laws and regulations sound; the fourth, non-financial organizations system, have set up a powerful agricultural security, insurance system, Japan and India also set up a deposit insurance system; Fifth, the financial and non-financial institutions a complete system of self-organization are set up multi-stage level, the system of internal financial institutions a reasonable division of labor in close connection with the mutual collaboration; Sixth, the Government policy to give full play the leading role for rural financial institutions, services, business development, through the injection of capital, tax, interest rate concessions, financial subsidies, etc., provided strong support, and be able to comply with the laws of the market, according to market demand for reform, improve, improve rural financial mechanism.In order to fully realize the Party Central Committee and the State Council building a new socialist countryside the grand goal of effective to promote rural economic development, China should actively learn from the United States, Japan and India, the success of rural reform experience, and constantly improve, and improve rural financial and non-financial organizations system, establish a diversified, multi-layered, complex, and to meet the requirements of the development of rural economy and rural financial institutional mechanisms. First, set up rural financial legal mechanism to establish rural financial Basic, perfect relevant laws and regulations, formulation and "Commercial Bank Law" has the same legal effect "Cooperative Finance Law," the cooperative financial organizations to set up and operation of the implementation of regulation, to establish cooperation financial supervision authority. The second is to improve the rural financial organization system, continue to deepen reform of rural credit cooperatives, in accordance with the joint-stock-oriented, to speed up the reform of property right system, optimizing equity structure, to support cross-regional operation; the strengthening of commercial banks in agriculture social responsibility, and actively encourage and support all types of commercial banks to rural areas to set up institutions, to develop their business vigorously; actively cultivate rural banks, small loan companies, such as various types of new-type rural financial institutions, efforts to broaden the function of policy banks to support agriculture. Three are gradually establish and perfect the rural non-bank financial organization system to speed up the agricultural insurance system, set up a government-led policy-oriented insurance and commercial insurance coexistence of multi-level insurance system. Actively to improve the rural security system and establish a suitable rural credit operations carried out by security agencies, the establishment of specialized management of non-performing loans of rural financial institutions, the establishment of rural credit cooperative association and mandatory deposit insurance system. Four are to strengthen the rural financial services and business innovation, farmers continue to improve the specification of micro-credit, United secured loan business, actively make innovations in the way loan guarantees and expanding the scope of effective collateral, to explore the implementation of land collateral circulation business, innovation and adapt to rural development, to effectively meet variety of business needs, and explore "company + financial + farmers" such as credit model. Five are to further improve the credit system, rural economic development to create a good credit environment.