| In October 2017,the reports of 19 th Communist Party of China National Congress put forward an important conclusion that our economy “has transformed from the stage of rapid growth to the stage of high quality development”,and is experiencing the critical period of “changing the way of development,optimizing the economic structure and altering the driving force of growth”.“Focusing on solving the problem of development imbalance” has become the main contradiction and the main task of China's social development in the new era of Xi Jinping.In July 2017,on the Fifth National Financial Work Conference,Xi Jinping stressed the priority of constructing inclusive financial system,accelerating the transformation of financial development mode,bringing back the original idea of financial services in the real economy,optimizing financial structure,and providing more financial resources in weak aspects and key fields of national economic and social development,in order to further meet the needs of the real economy and the public financial demand.While reviewing 40 years of reform and opening up,China has not only achieved great success of financial development in traditional ways,which established in the background of “catch up” economy,but also accumulated many contradictions and problems,especially the financial exclusion of vulnerable groups,regions and industries as well as the structural imbalances of financial resources allocation,and the increasingly serious problem of being “from reality to the virtual”.Therefore,financial development mode transformation is imperative.Finance is the core of the economy.While considering how to bring the benefits of the financial resources allocation to the most extensive groups,regions and industries and promote and maximize both the macro and micro efficiency of the financial development instead of only maximizing the micro efficiency,the most important factor is to speed up the adjustment and optimization of financial structure from the perspective of inclusive finance.The concept of sharing inclusive finance is in accordance with the purpose of changing China's modern economy from high speed growth to high quality development and solving the development imbalance in China.Therefore,this paper studies the transformation of China'sfinancial development mode based on inclusive financial guidance from the perspective of financial structure.This paper includes 6 chapters.The contents of each chapter are as follows:Chapter 1 is the introduction,which expounds the background,significance and review of the references,and elaborates the ideas,methods,innovation and aspects needed to be improved of this study.Chapter 2 is an overview of financial development theory.Firstly,this paper summarizes the evolution of financial development theory and the connotation of financial development mode based on the results of relevant theoretical research.Secondly,this paper analyzes the limitations of traditional financial development theories represented by western scholars such as Goldsmith.Finally,this paper analyzes the power source of the transformation of financial development mode.The author believes that the formation of all kind of financial development mode,is based on the specific period,a certain economic basis,certain social environment and the economic and social development goals of the specific period.In the face of the changed time background and problems,China's financial development mode exists the objective requirement of the adjustment and transformation.Chapter 3 presents the problems existing in the financial development in China and proposes the idea of inclusive financial orientation.First of all,the existence and the deep reasons of Chinese financial problems in the development are analyzed and summarized.Secondly,the meanings of inclusive finance are expounded,and the nature of inclusive finance as well as its relations and differences with traditional finance are analyzed.It especially elaborates the internal relation between inclusive finance and “Three Dimensional Financial” Structure,which are composed by commercial finance,policy finance and cooperative finance.Finally,this paper clarifies several easily misunderstood tendencies in interpreting the connotations of inclusive finance.Chapter 4 describes the principle and connotation of the transformation of China's financial development mode.It puts forward that in the process of financial development mode transformation,it should follow the principle of fair acquisition of financial resources,combination of inclusive and sustainable business,and balances between efficiency and fairness.Meanwhile,it is essential to adjust financial development mode and economic development mode in the process of China's financial development mode transformation.Chapter 5 is an empirical analysis about the allocation efficiency of China's financial resources under the guidance of inclusive finance.Firstly,it analyzes,under the guidance of inclusive finance,the efficiency of financial resource allocation and the performance in different regions(Eastern,central,Western and northeast China).Secondly,from the perspective of inclusive finance oriented factors,it analyzes the related factors that influence China financial development mode.This paper focuses on the analysis of the financial structure index.Because of the close relationship between economic development and financial development,this paper selects the industrial structure index as the research object.At the same time,in order to reflect the improvement of living standards brought by the inclusive finance in the process of China's financial development mode transformation,the paper also selected the urban residents and rural residents' disposable income index to analyze.Chapter 6 is the research conclusion and policy suggestion.This paper argues that in the beginning,financial development mode transformation requires the government to give top-level design and strategic planning to the direction,strategy,specific goals and ultimate goals of transformation.At the same time,it is very important to strengthen the construction of the financial basic system and optimize the basic system arrangement of the “Three Dimensional Finance” Structure.The innovation of this paper is manifested in the following three aspects:First,this paper tries to study the transformation of China's financial development mode from the perspective of inclusive finance,and tentatively puts forward that “Three Dimensional Finance” structure is the basic financial structure system arrangement for developing inclusive finance.Second,this paper attempts to do exploratory research about the theoretical connotation and the transformation of financial development connotation as well as inclusive finance.It puts forward such ideas as “uphold different development concepts and purposes and determine the different value orientation of financial development mode”,“social development efficiency and fair dynamic adjustment decides financial development mode transformation”,“inclusive finance is the study of financial development efficiency and fair economy theory”,etc.Third,from the perspective of “three in one”(the commercial finance,policy finance and cooperative finance)inclusive financial development,it conducts an in-depth empirical study on the efficiency of financial resources allocation in China and the method of promoting the transformation of economic development mode,and puts forward some corresponding countermeasures and suggestions.The aspects that need to be improved in this paper are: considering the main position of the banking industry in the Chinese financial system,the research object of this paper is mainly focused on the banking industry.In view of the lack of accuracy and completeness of the collection of private financing data,this article may be improved in this respect.Additionally,because the time,ability and data are limited,and the empirical research on the transformation is not thorough enough,the further research can be improved and strengthened in the future. |
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