Research On The Transformation Of Rural Credit Cooperatives In Sichuan Province Under Interest Rate Marketization

Under the new economic situation brought by the adjustment of economic structure,our country needs to promote financial reform, improve the efficiency of the financial resources to make more efficient use of resources, thus promote the development of the overall economy. The interest rate and exchange rate are the cores of financial reform. It is a breathtaking jump when we are facing the financial system marketisation under the process of economic transition. In recent years, the Chinese government attaches great importance to financial system reform which takes the marketization of interest rate and the internationalization of RMB as carriers. The Third Plenary Session of the eighth session of the Central Committee of Communist Party of China put forward to accelerate the marketization of interest rate. And from the point of view of the goal in the near future, the People’s Republic of China National Economic and social hair exhibition thirteenth five-year plan proposed to "improve the interest rate, exchange rates market determining mechanism, better play the Treasury yield curve pricing benchmark role".As one of the core of financial reform, the marketization of interest rate plays well in promoting the social investment and financing mechanisms and system scientifically,modernized, standardized development. But it also brings serious impacts to a variety of financial institutions. Operating costs, financial disintermediation and other derivative effect make the old model of liabilities and assets business of banks facing strong concussion. In which, due to long time service in the original, underdeveloped rural market, rural credit cooperatives deal with market interest rates influence more inadequately. This makes rural credit cooperatives stand in a great disadvantage position under the financial market competition pattern which the marketization of interest rate brings.This paper takes the rural credit cooperatives in Sichuan Province as a research sample,through comparative analysis, theoretical analysis and data empirical method, this paper proposed specific effects which the marketization of interest rate brings to the rural financial institutions which the rural credit cooperatives in Sichuan Province as the representative.And in this context, this kind of rural financial structure need to seek a restructuring and development. In the business breakthrough, liability side has the apparent upper limit, thus we can only seek a way out through asset business. At this point, it is not desirable to carry out the business of a large bank, which should be oriented to the urban and rural consumer market, and makes more consumer credit and the credit based on business credit. In the Business management, it needs to change the original heavy asset management mode,increase investment and promotion of electronic and online business, promote comprehensive retail financial services for the small towns, community residents, gradually form the light asset management business model. Finally, rural credit cooperatives in Sichuan should construct a new modern retail banking system which serves the new rural market and takes technology as a strong support. Further, the new system of rural credit cooperatives in Sichuan should lead the promotion of the reconstruction of China’s rural financial format.