Rearch On Government Countermeasures Of Inclusive Finance

Third Plenary Session of the Party's eighteenth made it clear to develop Inclusive Finance, which is of great significance and far-reaching, and it not only marks the Inclusive Finance in China entering a new stage of development, becoming an important part of the deepening of the financial system, but also reflects the more fruits of development benefiting all the people more equitably. At present China has entered a critical period of building a moderately prosperous society, deepening reform, and accelerating the transformation of economic development, which makes higher requirements for the work of inclusive finance.In recent years, Chinese government made a lot of efforts to promote the Inclusive finance, issuing a series of policies to promote the development of rural finance, increasing financial infrastructure construction. Financial institutions including Banks increases the number of village outlets to raise loan amount for farmers and small and medium enterprises(SMEs).In order to appeal the demands of them, these institutions also introduces various financial innovations, which results a relatively rapid development of our Inclusive Finance. But compared to international countries, our inclusive finance still have many problems, and solving these problems requires the government to give supports and guidance on all fronts.In this paper, we use theoretical and comparative analysis methods to summarize the status of inclusive finance theory, current situation, issues and causes of our inclusive finance development. After learning from the successful experience of foreign countries, we provide relevant theoretical basis and reference for our government to make policies to support inclusive finance reform countermeasures, reconstruction of the financial system.In this paper, we get the following basic conclusions:(1)We have multi-level main supply agency, diverse needs,but the severe rejection for “The three weak groups”, low innovation capacity, poor execution of policy and urgent need to improve the financial environment are the main problem in the process of China's inclusive finance development;(2) These problems are raised by related financial laws, regulations, mechanisms, organizational and environmental factors, which specifically perform as the imperfect inclusive financial policy and legal system, the lack of risk compensation agencies,guarantee agencies and mechanisms, and a missing credit system.(3)Advanced foreign experience shows that promoting inclusive financial legislation, broadening the funding sources and improving consumer financial education are three useful inspirations for our government.(4)In this paper, we put forward four parts of suggestions: Improve inclusive finance related legal system, increase inclusive financial policy guidance, set up a protection mechanism to adapt inclusive finance, and strengthen the construction of social credit environment and so on.