A Research On The Situations, Dilemmas And Countemeasures Of Local Banks’ Participation In Philanthropy From The Perspective Of Financial Social Work

The Fourth Plenary Session of the 19 th Central Committee of the Communist Party of China explicitly required “Attaching importance to play the role of the third distribution,developing philanthropy and other social welfare undertakings” for the first time,which established the status of philanthropy in China’s economic and social development fundamentally.However,the development of China’s philanthropy is still in the transitional stage of transformation from traditional type to modern type,and more social forces are required to promote the process of philanthropic modernization.The financial industry is the core force of today’s economic and social development which can use its influence to provide strong support for the development of philanthropy and expand philanthropic channels.Local banks are the important part of the financial industry,with a wide range of businesses and inextricable ties to social forces,and play a pivotal role in the development of local economy and society,which can be an important factor in promoting the development of local philanthropy.However,local banks need professional help to keep sustainable development of participation in philanthropy.The financial social work is an activity of helping people go out of difficulties through financial methods,which is scientific and professional,and its working concept has a certain fit with the financial service concept of local banks.Financial social work can provide more practical functions for local banks’ financial service,it can help local banks improve the financial ability to help people and brand reputation.Therefore,it is valuable to study the situations,dilemmas and countermeasures of local banks’ participation in philanthropy from the perspective of financial social work.This study takes R Rural Commercial Bank of Jiangxi Province as an example,understanding the situations and dilemmas of participation in philanthropy of this local bank through literature collection and interviews,analyzing the feasibility of combining financial social work and participation in philanthropy of this bank,and making suggestions for local banks to participate in philanthropic activities efficiently.By making a case study analysis of R Rural Commercial Bank’s participation in philanthropy,through interviewing with fourteen managers and one outstanding employee of the bank,it was found that the main ways of R Rural Commercial Bank’s participation in philanthropy include:(1)Donating money and materials to help people in need on a regular basis;(2)Holding public welfare financial activities to popularize financial protection knowledge;(3)Establishing a foundation to help the poor and students.Although R Rural Commercial Bank has some experience in participation in philanthropy,there are still many dilemmas in its participation in philanthropy,the main components include:(1)There are no social work institutions in the region and lack of financial social workers resources;(2)Lack of supervision by professional institutions and internal incentives;(3)Difficult to account for the returns of participation in philanthropy and guarantee the effect;(4)Lack of accurate classification of financial recipients and financial policy advocacies;(5)Financial relief channels need to be expanded and lack of community assistance and online assistance.Finally,the study proposes countermeasures to promote local banks’ participation in philanthropy from the perspective of financial social work:(1)Government departments promote the establishment of social work agencies and provide financial social worker resources;(2)Improving the system and regulatory mechanism for participation in philanthropy and increasing funding investment;(3)Banks Introduce professional financial social workers to improve the efficiency of participation in philanthropy;(4)Carrying out philanthropic assistance and financial policy advocacies for different groups of people;(5)Expanding the participation in philanthropy platforms online and opening community financial service stations offline.