Vulnerable Groups, Financial Services Research

Under the circumstances of building a harmonious society and paying special attention to the social vulnerable groups initiated by our country, preventing the social vulnerable groups from being further marginalized, weakened and impoverished has become an issue not merely concerned with the departments of labor and social security, but, more importantly, with the way of how to lead them to their self development. It is, therefore, of significance for the financial organizations to optimize their services demanded from the social vulnerable groups, whether to improve the self-interest of the social vulnerable groups and perfect the development of finance, or to better the social economic benefits which conduct to social stability and realizing harmonious development for society.This thesis, taking a case study of Dongguan, a city of 7 million peasant laborers, investigates 13 banking organizations, nearly one thousand enterprises and 10 thousand peasant laborers in Dongguan, while selecting Yuyuan Group, an enterprise of 80 thousand peasant laborers as a research sample to get to know the real picture of financial services for the social vulnerable groups. The investigation shows that with the expansion of the social vulnerable groups and the accumulation of original capitals, the basic financial service demand for the social vulnerable groups has been broken away from traditional financial services of deposit, withdrawal and remittance to more stronger and extensive ones under the pregnancy. However, from the len of financial services, it reveals many problems such as a shortage of front service units, prominent differentiation of banking services, excess of banking mobility as well as weakness in credit support for the social vulnerable groups and in service innovation, etc. In fact, the fundamental cause for the ignorance of the social vulnerable groups is that the tendencies of the capitals are seeking for the maximization of profits. Other causes, in deeper structure, for the poor financial performance for the social vulnerable groups are large income inequality and incomplete competition, with incomplete competition in banking system and low power of innovation for financial organizations caused by institution being another two factors deserving our attention. Therefore, the key to tackling the ignorance of the social vulnerable groups lies in how to improve the marketing mechanism, which, eyed on the big picture and handed in detail, in other words, means an intuitive marketing mechanism providing financial services for the social vulnerable groups co-ordinated by institution, organizational system, credit system and financial innovation.