Research On The Development Of New Rural Financial Institutions In Xinjiang Autonomous Region

Since 《On adjusting the relaxation of the banking institutions in rural areas access policy opinions》has been published by the CBRC in 2006, Enthusiasm of the social capital and private sector has increased. All over the country build new rural financial institutions launched actively. The number of Rural bank, Loan companies and Rural fund cooperatives was rising.This paper studied the development of new rural financial institutions in Xinjiang, the largest area in the West of China. It includes a number of rural counties in agriculture. Long term model of financial supply in traditional rural financial institution is invariant, service functions of agriculture, village, farmers and small and micro enterprises in county area. Their rational development will be restricted. As a new thing in Xinjiang, new rural financial institutions has been developing for more than 6 years. It has brought real benefits to the region. It provides more financial support for the construction of rural areas. It makes the agricultural production have a greater development space. It makes the farmers face more diverse financial services. Small and micro enterprises can also have more financial options. And social capital has a more extensive financing channels.We cannot ignore the problems in the development of new rural financial institutions in Xinjiang. The development of three types institutions is not balanced. It exists the main development of the organization of the category of a single. New rural financial institutions are located in the county rural areas. But the financial network is far from the village, and so on. It has the problem that it is lack of capital support and institutional mechanism, not conducive to the prevention and control of financial risks, and compared to the traditional rural financial institutions. It is necessary to explore the new rural financial institutions in Xinjiang how to achieve Inclusive Finance, how to solve the contradiction and problems. According, in the end, we should focus on improving the rural financial environment, the implementation of new rural financial institutions to foster initiatives, and actively introduce social financing, strengthen the supervision of the system to prevent financial risks and efforts to cultivate new rural financial institutions, such as corporate culture, and other suggestions. It can get through the interests of rural financial institutions, financial services and the rigid structure of the pattern. New rural financial institutions can be firmly based on the county. It can improve financial support for agriculture, rural areas and farmers. It can be convenient for small and micro enterprises in the long-term development of capital injection.