| Inclusive Finance emphasized to improve the financial system from the depth and breadth. In recent years, after Chinese rural finance reform, it has made a great progress in depth, but has not been improved in breadth, vulnerable groups are still excluded from the existing financial system, the majority of rural people who has financial demands cannot be equal to enjoy the financial services. Therefore, based on the previous studies, constructs the theoretical analysis framework, using panel data of30provinces in China to analyze and evaluate the problems of Chinese rural financial exclusion, find a sustainable way to ensure the fairness of financial service. The main contents include:(1) define the basic connotation of Inclusive finance and rural financial exclusion;(2) combing the present situation of rural exclusion in our country, and makes evaluation and reflection;(3) using quantitative analysis methods to analyze the influencing factor of Chinese rural financial exclusion;(4) based on the building of inclusive financial system, puts forward some policy suggestions of rural financial exclusion in China.A. The conclusions of this paper:a. The degree of rural exclusion in China is serious totally between2006-2010.This research analyzes the condition of chinese rural exclusion from six dimensions of geographic exclusion, assessment of exclusion, condition exclusion, marketing exclusion, price exclusion and self-exclusion. From the results of Financial Exclusion index, financial exclusion exists in Chinese rural areas, the scores of all provinces are over0.5, and has not been significantly improved during five years. Based on the analysis of distribution network of rural financial institutions, coverage of rural financial institutions outlets、every million people have financial service personnel、 proportion of loans to farmers, concluded that chinese rural financial institutions did not meet the demand for capital in rural areas.b. Chinese rural financial exclusion exist regional difference. Affected by geographic, economic, cultural and other factors, Chinese rural financial exclusion exist obvious regional difference. The Index of financial exclusion of Beijing, Zhejiang, Jiangsu and other eastern regions is small, Zhejiang is the least, IFE value is less than0.5; because of slow economic development and financial development, the rural financial exclusion condition of Chongqing, Tibet, Gansu, Guizhou and other western cities are serious. Chongqing has the highest average of IFE in about0.8. In2009, China’s rural financial exclusion index from0.33span to0.83, regional differences are very obvious.c. Factors causing rural financial exclusion in China are diverse, and there are regional differences. Based on the analysis of household per capita net income of rural residents, employment, education, fiscal expenditure on agriculture, agricultural mechanization level of financial development, urbanization rate、the level of information and the economic growth rate for the overall impact of rural financial exclusion effect.Overall, in addition to the rate of urbanization and rural economic growth rate were not significant, other variables were all significant, various provinces early financial exclusion degree, per capita net income of rural households, employment and rural financial exclusion were positively correlated, while the education, fiscal expenditure for agriculture, agricultural mechanization level, financial development and information level and rural financial exclusion were negatively correlated; from the regional perspective, affecting factors in the east、central and west were not the same. Rural households of per capita income, education, financial support and information level in eastern area were significant, early financial exclusion degree, per capita net income of rural households, education, financial support agriculture, agricultural mechanization level, information level in the central area were significant, the western area of early financial exclusion degree, per capita net income of rural households, employment, financial support for agriculture, the level of agricultural mechanization and informatization level in the western area were significant. Per capita net income of rural households, financial support to agriculture and the level of information were all significant in the three areas, the effects of income are the strongest.d. Ease rural financial exclusion, improve financial services is the inevitable choice of realizing the coordinated development of urban and rural economy. Seventeen of the Third Plenary Session pointed out that, modern rural financial system should be established to promote urban and rural coordinated development. Financial services in rural areas can provide effective protection for the flow of production. However, when we look at the market for financial services in rural areas, in addition to agricultural development bank and rural credit cooperatives play a stronger role in supporting agriculture, most other financial institutions are profit-driven. Faced with the large risk, small profit rural market, commercial financial institutions choose to exit the market or service for the medium-sized and high-valued rural enterprise,it results in a large number of farmers who have financial needs can not be met, and national financial support for rural development vision can not be met. In the stage of urban and rural development, the city finance plays the leading role of rural financial, realizing inclusive financial sustainable development is the inevitable choice of the future of China’s financial development.B. Policy suggestions:a. Continue to strengthen rural infrastructure to alleviate rural financial obstacles. The biggest reason of Chinese rural financial exclusion is the principle of the double-W. In modern society, the endless stream of financial innovation led the rural areas to be excluded from the mainstream financial system. To increase the financial infrastructure in the rural areas, eliminate the gap of the financial services gradually is an important means to achieve financial inclusion. Therefore, we should speed up the construction of the financial infrastructure in rural areas, and expand coverage of public telephone, mobile phone and network, help rural residents access to effective knowledge of information technology. So, financial institutions can carried out marketing activities better in rural areas, operating costs will be reduced, even if there is no fixed branches of commercial banks, rural residents can also enjoy financial services through online banking or mobile banking, so as to alleviate China’s rural financial exclusion effectively.b. Improve the mechanisms for self-development of the rural economy; promote the coordinated development of the finance and economy. The sustainable development of rural finance is based on the sustainable development of rural economy. The weak quality of the agricultural industry makes the development of the rural economy blocked, the emergence and development of the financial markets need appropriate economic environment for support, we must start from the development of the rural economy to ease China’s rural financial exclusion. To crack the rural financial exclusion should be grabbed from the roots, to promote the development of rural economy and improve the anti-risk ability of the agricultural production to increase the added value of agricultural production, and improve the economic and credit conditions of economic agents to alleviate the financial exclusion effect.c. Improve the rural financial service system, innovate rural financial products. From the above analysis, as the main force of China’s rural financial market mainly by rural credit cooperatives, the lack of the necessary competition to improve the rural financial service system, it is necessary to introduce appropriate competition. Development of rural diversification, multi-level financial organizations, to build more new-type rural financial institutions through institutional innovation, actively and steadily example, small loan companies, rural banks and rural mutual funds set up such organizations. Promote the establishment of normative, competitive, and diversified rural financial markets competitive environment.d. To implement different mitigation policies to enhance the effect of policies. Because of China’s rural financial exclusion exists significant regional differences, to develop mitigation measures must take full account of the characteristics of the region, the effect of rural financial exclusion factors in different regions are not the same, the State should encourage the government and related departments to develop different mitigation policies, in order to avoid across-the-board mode, so as to achieve the effect of relieving the regional rural financial exclusion. For the extent of financial exclusion areas, the main measures to improve financial efficiency and financial depth is to improve the region’s financial efficiency, so as to improve the financial efficiency of the region and promote economic development, to form a coordinated economic and financial development of positive interaction; For the serious financial exclusion areas, targeted mitigation policies should be based on the main factors that affect financial exclusion.e. Improve rural financial ecological environment. Financial ecological environment is the sum of financial survival and development, as well as all kinds of basic conditions. It mainly covers the stable economic environment, the perfect legal system environment, a good credit environment, coordination of financial system environment and orderly market environment and standard. Similarly, the rural financial ecological environment is a mutual influent, interdependent dynamic balance system that composed of rural economic, political, cultural and social environment. The improvement of the rural financial ecological environment is a key prerequisite to alleviate rural financial exclusion, it needs to improve rural financial ecological environment to alleviate financial exclusion. |
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