Research On Financial Support For Rural Vitalization

The question of agriculture and the peasantry is fundamental to the life of the people.The party’s 20 th report indicated that it was necessary to continue promoting rural revitalization in all areas and to accelerate the construction of agricultural power.In the2023 government Work report,it was also proposed to promote rural revitalization and expand the channels for farmers to increase their income and get rich.In fact,in 2017,China put forward a rural revitalization strategy,which showed the direction and clarified the priorities of the new era of agricultural and rural reform and development.In 2023,Village revitalization strategies cannot develop without economic support,and funding,as a central part of the economy,is the most important link in supporting village revitalization.Rural economic development in Shanxi Province is relatively backward,and there are still a large number of areas in transition out of poverty.Effective support for the implementation of rural revitalization strategy has become the focus of Shanxi Province’s current work.In 2022,Shanxi Province issued the opinions on the implementation of the rural revitalization strategy,clearly proposing to encourage financial assistance to agriculture and improve financial services for rural revitalization.Therefore,by studying the relationship between finance and rural revitalization and development,and exploring ways for finance to help rural revitalization,Shanxi Province can take targeted measures and provide reference for other provinces to effectively promote the development of rural revitalization strategy.In view of the above situation,based on the rural finance theory,financial development theory and financial exclusion theory,this paper analyzes the current situation of financial support for rural revitalization in China and Shanxi Province through the changes of agriculture-related financial data,and summarizes the existing common problems.Secondly,based on the data of 11 prefecture-level cities in Shanxi Province from 2011 to 2021,factor analysis method and entropy weight method were used to construct the evaluation system of rural revitalization and financial development respectively,and the scoring results were analyzed.Finally,based on the above evaluation system,this paper makes an empirical study on the financial support of rural revitalization.The fixed effect model of panel data is selected for regression analysis.The empirical results show that Shanxi provincial finance can effectively support the implementation of rural revitalization strategy,but the support is less than the level of economic development and financial support,which indicates that the rural financial system of Shanxi Province needs to be improved.It is expected to play a greater role in supporting rural revitalization in the future.Meanwhile,the level of scientific and technological development has inhibited rural revitalization to some extent.Through the combination of theory and empirical analysis,this paper puts forward the following suggestions: improve the rural financial system;speed up the definition of "separation of the three powers" to attract financial vitality;promote financial support to increase rural financial supply;promoting a new form of "finance plus science and technology" to help agriculture;improve farmers’ financial literacy in many ways.It is of great practical significance for Shanxi Province to promote financial support for rural revitalization in poverty-stricken areas,and also has reference significance for the policy implementation of other provinces.