Research On Rural Financial Service Innovation In Henan Province

With the report of the Nineteenth National Congress on the advancement of agricultural and rural development,the implementation of the strategy about rural revitalization,it is required to improve the rural financial system that suits the characteristics of agriculture and rural areas,strengthen the innovation of financial service methods,and increase the capacity and level of financial services for rural revitalization.With the development of the "agriculture,rural areas and farmer" and the further advancement of the structural reforms on the agricultural supply side,we will use the new concept of development to accelerate rural financial reforms,innovate rural financial services,and give full play to the financial support role of finance,which is important for the construction of a new socialist countryside.However,with the deepening of economy society's development and reforms,diverse rural market entities and production and business models have put forward multiple requirements for the demand of financial services,but traditional rural finance has not kept pace with agricultural reform.The problems existing in Henan's rural financial development have gradually emerged,such as the simple structure of rural financial organizations,the lack of competitiveness of rural financial markets,the mismatch between the supply and demand of rural financial services,the loss of funds from rural areas,and other issues that have clearly inhibited the development of rural finance.Rural finance is an indispensable factor in promoting the development of modern agricultural economy.The current lack of financial services in rural areas in Henan Province is one of the most significant “Matthew effects” that causes rural areas to lag behind cities.Therefore,to speed up the rural economic development in Henan Province and promote the construction of new rural areas,will rely on the strong support and promotion of rural finance.It is imperative and imperative to promote the innovation of rural financial services in Henan Province and improve the modern rural financial service system.This paper adopts the methods of literature analysis,case analysis,and normative analysis.Through the research of relevant financial theories at home and abroad,combined with the current status of rural financial services development in Henan Province,it was found out that the innovation concept of rural financial services innovation is contrary to the nature of innovation.The paper analyzes the main problems such as the single mainstay of rural financial services,lack of talents andtechnology,and high risk of innovation.then this paper have analyzed the existence of constraints such as lagging development of rural financial markets,poor regulatory supervision,inadequate policies,inadequate legal construction,and imperfect credit construction.Summing up the domestic and foreign financial service innovation experiences in the United States,France,Bangladesh,Lishui City,Zhejiang,Tiandong County,Guangxi,etc.,and analyzing the innovation strategy of rural financial services in Henan Province on this basis,the goal of rural financial service development in Henan Province is proposed.Principles as well as the content of innovation and development of rural financial services in Henan Province are proposed,too.In order to ensure the effective implementation of the innovation strategy,we have also proposed countermeasures and suggestions for rural financial services innovation in Henan Province,including perfecting the rural financial service system,providing government support,completing rural risk sharing mechanisms,improving the regulatory system of rural financial institutions,and improving rural financial markets.System,strengthen the protection of rural legal system,and pay attention to the construction of rural credit system.With a view to providing reference for the improvement of the level of innovation in rural financial services.