| Microfinance was introduced in China as a poverty alleviation model in the early1990s.In the past20years,the market economy of China continue to improve,and our microfinance also changed.Today,most of the microfinance institutions provide commercial financial services so that they can keep financial and organizational sustainability. According to the relevant policy requirements, the Rural Credit Cooperatives(RCCs) first launched microfinance business in the early21centry. Since then,the microfinance developed rapidly.After2005,many kinds of microfinance institutions appeared,such as the rural bank,the micro-credit company and so on.The Postal Saving Bank also launched a micro-credit business.As a financial services model, microfinance fill the vacancy of the financial market.As the main force of the rural financial market,the RCCs have developed the microfinance for over10years and made important contributions to our rural financial market.The RCCs also have solved some financing problems for many farmers. However,the initial business objective of the RCCs’microfinance is poverty alleviation, which is for policy.with the development of rural financial markets, its target has turned to develop the institutionalism microfinance.It causes many problems in this process.The scholars’research in our country focus on the following aspects:the interest rate,the risk, the supply and demand and the related personnel. Due to the rapid development of Chinese current microfinance,the RCCs are facing more and more competition,at the same time,the relevant policies are constantly revised and improved.Therefore,it’s worth exploring a method for promoting the sustainable development of the RCCs’ microfinance.Through a combination of practical and theoretical cases,this paper analysed the sustainable development of microfinance of the RCCs in Jingyan,and then summed up the problems of the RCCs where microfinance development.To solve these problems,I made a number of policy recommendations which combined with Chinese currently new environment and new policies.This paper is divided into four parts of the main body. The first part elaborate the concept of microfinance, microfinance theory and sustainable development. The concept of microfinance is primarily concerned with two aspects:the content and classification of microfinance; the theory mainly related to rural financial market theory and asymmetric information theory;regards the sustainable development of microfinance, in addition to the concept of sustainable development,this paper analysed the the macro and microscopic factors of it. The second part outlines the development process of microfinance and the location of the RCCs in the process. From non-formal to formal and welfarism to institutionalism,our microfinance have experienced20years of development, during which the government increasingly involved in microfinance.As the main institutions of microfinance in rural area,the RCCs have made a significant contribution to Problems about Agriculture, Ruralareas and Peasantry. The third part is a case study. Through the analysis of the RCCs in Jingyan,we want to find some of the problems of its microfinance.The analysis is departed into two sections:the financial sustainable analysis and the organization sustanable analysis. The fourth part is a number of policy recommendations for the sustainable development of the RCCs’microfinance which are divided into two parts:the government and the RCCs. the recommendations for the government including interest rate controls, government interference, the laws, regulations and certification aspects of land ownership mortgages;the recommendations for the RCCs including the risk management,institutional cooperation and employee training.The innovation of this paper is mainly reflected in the policy proposals for the sustainable development of microfinance.First,the paper analyse the proposals from two sides:the government and the RCCs. This will be conducive to explore the issue from the perspective of different subjects, and we can also easier to see the current road of microfinance which the RCCs are taking is more interested in institutionalism microfinance.Less government interference and more market-oriented is favorable for its sustainable development. Secondly, this paper makes some innovations about interest rate controls and mortgages. Thanks to the new government policies these years.The central bank canceled the loan interest rate cap of the RCCs.The paper discussed what kind of impact on the RCCs microfinance.In view of the implementation of China’s current land ownership certification,and the2014central document also proposed to allow the land management right mortgage financing,so I think we can carry out mortgage-style microfinance, which appears to conflict with the traditional interpretation of microfinance.In fact, if you want to break through the bondage of microfinance loan amount, loan term and other aspects,the certain mortgage is a better way to solve these problems.Our policies for the rural market in land, finance and other aspects are constantly changing,and the promulgation and implementation of these policies also promote the continuous development of the rural market.New policies come with new study.The new policies this paper mentioned are promulgated resently,which is lack of data to support our study, so I do not have an in-depth analysis,however,the policies should have a significant impact on the sustainable development of RCCs microfinance,and it can be used as the future research direction... |
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