Measurement Of Development Level Of Inclusive Finance In Sichuan Province And Analysis Of Influencing Factors

Since the concept of Inclusive Finance was put forward in 2005,its development trend has been particularly rapid.In 2006,Chinese scholars introduced it into China for the first time.In 2013,the Third Plenary Session of the 18 th CPC Central Committee first used the concept of Inclusive Finance,marking a new historical period for the development of Inclusive Finance in China.At the beginning of 2016,the State Council’s plan for promoting Inclusive Finance Development(2016-2020)was issued,and the development of Inclusive Finance has reached an unprecedented height.Then,at the end of 2016,Sichuan promulgated the plan to promote the inclusive financial development in Sichuan(2016~2020).In recent years,the development level of Inclusive Finance in Sichuan has been greatly improved,but there are still some weak links to be further improved.Therefore,this paper focuses on Inclusive Finance,and at the same time,the research is specific to the provincial level.Taking Sichuan as a sample,it aims to solve the problem of Financial Exclusion and further enhance the development level of Inclusive Finance in Sichuan.First of all,this paper summarizes and analyzes the relevant literature about Inclusive Finance at home and abroad,and finds that the existing researches on the distinction between Inclusive Finance and poverty alleviation finance,the role transformation of government and market in the development of Inclusive Finance,the emphasis on the construction of inclusive financial index system and the influencing factors are relatively weak.Therefore,based on the relevant categories and theories,this paper explains the above two relationships,and optimizes the selection of indicators to measure the development level of Inclusive Finance and its influencing factors according to the meaning of Inclusive Finance,so that the calculated index is more scientific and realistic.Next,this paper reviews and summarizes the development of Inclusive Finance in Sichuan.It analyzes the four aspects of financial products supply,financial products demand,infrastructure and policy environment,and points out that the development level of Inclusive Finance in Sichuan has indeed improved significantly,but there are also a series of problems,such as the relatively weak infrastructure of Pratt & Whitney financial institutions and the unbalanced supply.Financial development is slow;financial knowledge and skills of vulnerable groups are low;financial institutions "dislike the poor and love the rich" is contrary to the purpose of Inclusive Finance;financial product innovation is insufficient;laws and regulations need to be further improved;multi-level capital market needs to be further improved.Then,we use the inclusive financial development index(IFI)to measure the development level of Inclusive Finance in Sichuan from 2008 to 2018,and find that its development level and speed are very consistent with the government’s attention.At the end of 2013,the decision of the Third Plenary Session of the 18 th Central Committee of the Communist Party of China(CPC)was issued,which promoted the level of Inclusive Finance to have a rapid improvement,and the release of the 2016 plan made it further developed.Then,a comparative analysis of the development level of Inclusive Finance between Sichuan and the whole country is made.It is pointed out that the development level of Inclusive Finance in Sichuan is slightly higher than that in the whole country in 2008 and 2009,and has been lower than the national average since 2009.Finally,the grey correlation degree model is applied to calculate and sort out the 12 influencing factors of the development of Sichuan’s inclusive finance.According to the calculation results,the 12 factors are divided into four steps from high to low.The policy recommendations for promoting the development of Inclusive Finance in Sichuan are put forward: strengthening the construction of inclusive financial infrastructure,realizing balanced supply,developing "Internet plus",promoting service content and mode innovation,strengthening public ability education,enhancing public financial demand,narrowing the income gap,realizing the "three senses" of the people,and increasing the support of the inclusive financial policy for key service providers.Develop and improve the multi-level capital market.