The Study Of Inclusive Finance Model Of Lankao County

Inclusive finance is an important means to solve the problem of financial exclusion,to serve the overall financial development strategy of our country,and to deepen the supply-side structural reform of the financial system.Our country has attached great importance to promoting inclusive financial reform and construction.The key of inclusive finance reform is to strike a balance between "price acceptable to customers" and "cost that financial institutions can cover",and to make the system work effectively and "positive feedback" to promote the popularity of inclusive finance.In 2015,Xu Nuojin proposed to develop inclusive finance in Lankao after the investigation in Lankao.In the early stage of the construction,Lankao’s financial index was greatly improved and the credit structure was continuously optimized.On December 28,2016,Lankao county of Henan province became the first inclusive financial reform experimental zone in China.Lankao has similar economic underdevelopment phenomenon like other poverty-stricken counties,and Lankao has a number of policy inclinations,which makes Lankao’s inclusive financial construction work have a strong reference.After the establishment of the Lankao Inclusive Financial Reform Experimental Zone,by promoting the development of digital inclusive finance,building an inclusive financial product system,establishing a risk prevention and control system,building a credit information sharing platform,and improving the inclusive financial service system,Lankao has build a inclusive finance model of “one platform and four systems”,established the operational mechanism of government-leading,support of financial institutions,industrial development,and participation of farmers.Through this mechanism,Lankao could coordinated the interests of all parties,and accelerated the development of the pilot zone.Through continuous innovation and exploration,the following results have been achieved: more complete of infrastructure,the financial system has become more comprehensive,farmers’ satisfaction about inclusive finance has greatly improved.However,from the perspective of the participants including the government,financial institutions,and farmers,due to the imperfect of top-level design,the combination of industry and finance is slowly,untargeted of loan allocation,lack of marketization mechanism,and financing guarantee system is not sound,the inclusive finance model in Lankao still has some problems,the division of rights and responsibilities among the participants is not clear,the ability of "hematopoietic" of inclusive finance is weak,inflexible of loan risk-fracturing mechanisms,willingness of financial institutions is not high,and the problem of farmers’ financing is still prominent.In order to improve the inclusive finance model of Lankao County,we should play a guiding role of the government by accelerating the legislative process of inclusive finance,establishing differentiated supervision mechanism and cultivate excellent grassroots cadres;strengthen the supply of inclusive finance by promoting the construction of digital inclusive finance,establishing the access mechanism of private capital,deepening the cooperation with securities companies,and improving the credit guarantee mechanism;to stimulate residents’ demand for inclusive finance by improve residents’ financial literacy,build regional characteristic industries and cultivate the new type of agricultural management entities.The innovation of this paper is that it systematically summarizes the operation mechanism of Lankao inclusive finance model from the perspective of various participants.And then better summarize the successful experience of inclusive financial construction in Lankao County,assist the promotion and replication of the Lankao inclusive finance model.