The Influence Of Financial Inclusion On Farmers' Income In Heilongjiang Province

Healthy development of financial service plays an important role in promoting the world economy.However,financial exclusion makes it difficult for most poor groups to have access to equitable services.This has formed a serious income gap,created a distinction between the rich and the poor.In this context,Inclusive Finance is formally incorporated into the category of financial deepening reform in the Third Plenary Session of the Eighteen in November 12,2013.The State Council included inclusive financial construction in national strategic planning in January,2016.It was suggested that the construction of an inclusive financial service system should continue to be strengthened in the meeting of the People's Bank of China in 2017.It is emphasized that financial support should be strengthened,so that finance can better serve all economic bodies,promote the development of real economy,and ensure the progress of precision poverty alleviation.These policies show the importance of developing financial inclusion,increasing farmers' income and achieving precision poverty alleviation.Undeniably,the economic strength of Heilongjiang Province has greatly increased in recent years.However,the income gap between urban and rural areas and uneven development in Heilongjiang Province are also becoming increasingly prominent.The per capita income of urban and rural residents is quite different,and the inequality of income distribution is worsening.The financial development in rural areas lags behind,and the financial exclusion of poor groups,such as farmers and microenterprises,has become the key factor to restrict the development of rural economy in Heilongjiang Province.Therefore,this paper takes Heilongjiang Province as the background,studies the influence of financial inclusion on farmers' income,and provides corresponding suggestions.It will benefit the construction of inclusive financial service system in Heilongjiang province and even the whole country,and promote farmers' increasing income.First of all,on the basis of clarifying the background,purpose and significance,and combing the research trends at home and abroad,this paper defines the concepts of financial inclusion and farmers' income.Then,it introduces the related theory of rural finance and financial inclusion,which provides theoretical support for the research.Secondly,while describing the status of financial inclusion and farmers' income,the financial inclusion index of Heilongjiang Province is measured,and the financial inclusion level of Heilongjiang Province are evaluated,which provides quantitative analysis for the study.Thirdly,the paper analyzes the connection between financial inclusion and farmers' income,or it can be said,the influence mechanism of financial inclusion on farmers' income.It also demonstrates the significant influence of financial inclusionon farmers' income through econometric model,and provides the basis for suggestions.Finally,on the basis of theoretical and empirical analysis,this paper puts forward some suggestions to increase farmers' income from the angle of financial institutions,government and farmers.The key point is to establish inclusive financial service system and the government-led supporting mechanism,improve the rural inclusive financial services and then increase the farmers' income in Heilongjiang Province.