Research On The Development Path Of Inclusive Finance Of Agricultural Bank Of China

The United Nations proposed the concept of inclusive finance for the first time in2005.China officially proposed the concept of inclusive finance at the Third Plenary Session of the 18 th CPC Central Committee,and began to explore and practice inclusive finance in 2006.In recent years,China's inclusive finance has developed rapidly,and the inclusive financial system has basically been established.The major banks of China have set up the Inclusive Finance Department in accordance with the requirements of the China Banking Regulatory Commission.In February 2018,the People's Bank of China and the World Bank Group jointly released China's Inclusive Financial Report: "China's Inclusive Finance in a Global Perspective: Practice,Experience and Challenges",which summarizes China's inclusive financial development methods and models in an in-depth discussion and summary over the past 15 years.It compares the development process of China's inclusive finance with other similar economies,and analyzes the crucial progress and factors of China's inclusive financial experience.The report points out that China's experience is beneficial to financial managers in other countries who are committed to exploring and improving the long-term sustainable development path of inclusive finance.As a large-scale commercial bank which serves “agriculture,rural areas and farmers”,the Agricultural Bank of China(short for ABC)has achieved significant progress in supporting “agriculture,rural areas and farmers”,micro-enterprises,poverty alleviation and other inclusive finance.The “Ministry System of Agriculture,Countryside and Agriculture”plus“Inclusive Finance”was adopted for the first time as the two-wheel drive,and this typical model was regarded as a classic case by International Institute for Management Development.However,in general,there is still problems,such as weak foundation,high cost and high risk in China's inclusive financial service system.Nowadays,the coverage of inclusive finance is still limited,and the depth of the service is not enough.In addition,there is still great challenges for the development of inclusive finance in sustainability and competitiveness,and many fundamental problems remain unresolved.Based on this,this paper attempts to start from the inclusive financial model of ABC——a representative of inclusive finance,and research from the perspective of international concept evolution of inclusive finance,model innovation,technological change and strategic choice.However,generally,China's financial service system,especially the inclusive financial service system,still has weak points,such as weak foundation,high cost,and high risk.The coverage scope of inclusive finance is still relatively limited,and the depth of that is also not enough.What is more,it still faces challenges of sustainability and competition.In short,many fundamental problems remain unresolved.Based on this,this paper attempts to study from the aspects of concept evolution,pattern innovation,technology change and strategic application.Firstly,on the basis of analyzing the concept and connotation of inclusive finance,the system sorts out the evolution from micro-credit to micro-finance and then inclusive finance,analysing the theoretical basis of the generation of inclusive finance from the aspects of financial development rights and inclusive development.It summarizes the four stages of the development of China's inclusive financial.Secondly,it summarises and compares the inclusive financial service models at home and abroad from three dimensions,including micro-credit service,payment and settlement service,and micro-insurance service,acquiring meaningful patterns.Thirdly,the development of internet finance has brought new revolution and opportunities to inclusive finance.This paper systematically sorts out the banking financial innovation process and development stages from the perspective of information technology,and deeply analyzes the driving effect of the information technology reform for financial innovation,especially for the inclusive financial development,and the opportunities and challenges for that.Fourthly,on the basis of analyzing the difficulties and problems faced by China's inclusive financial development,reviewing domestic and foreign experience,this paper proposes a framework design strategy for the construction of inclusive financial system from the perspective of macro-level top-level design and mechanism construction.Fourthly,on the basis of in-depth analysis and introduction of the development of inclusive finance of ABC,and drawing on domestic and foreign experience,this paper proposes a framework for the further construction and improvement of the inclusive financial system by ABC from theperspective of the top-level design and mechanism construction at the macro level.