The Path Selection Of Inclusive Finance In China

In the end of 2015, the State Council issued "the plan to promote inclusive finance development(2016-2020)". This is the first implementation of the inclusive financial strategy from the national level. The plan for next five years have great significance to promote the comprehensive development of inclusive finance. The plan clearly put forward the concept of inclusive finance. The inclusive finance is to provide financial services for various social groups,based on the principle of equality of opportunity and the requirements of sustainable business, at an affordable cost. Micro-enterprises and small businesses, farmers, urban low-income groups, the poor and the disabled, the elderly and other special groups are the current focus of inclusive financial services. At present, China is still in the early stage of the inclusive financial development and there is no establishment of a truly inclusive financial system. In recent years,more and more people have enjoyed the benefits of policy from financial reform. But, at the same time, the financial services of rural areas and other disadvantaged sectors still exist some problems. The establishment of the inclusive financial system needs further improvement and optimization. Therefore the research of it has great significance.Since the concept of inclusive finance has been raised just for a short time and there is no authoritative definition at home and abroad, this article first defined inclusive finance cored concepts, analyzed its particularity, combined with the relevant economic theory. so we can have a comprehensive understanding to the concept of inclusive finance. The third part is comprehensive analysis about the present situation of inclusive finance, including the development process, the current demand, supply situation, infrastructure situation and ecological environment. The fourth part reviewed the practical cases of community banks in developed countries, such as the Germany, the United States, and the rural banks in developing countries, such as Bangladesh. It also summed up its operation patterns and characteristics to explore the path of inclusive finance development in China, combined with our special situation. In the fifth part, according to the special circumstances, laws and regulations in China and international experience, I raised the guiding ideology, basic principles, and proposed the routing of inclusive finance development. In the last part, I put forward a number of policy recommendations, as a complement to the path selection problem, innovatively proposed the relationship between inclusive financial innovation and regulatory, emphasized consumer protection, strike illegal fund-raising, and so on..To establish and improve the financial system is a long and complicated process. It is related to the continuous and healthy development of Socialist Market Economy in China, therefore we must make large efforts in all aspects of society to seek out a path of inclusive finance development in line with the special conditions in China.