Research On The Implementation Effect Of Inclusive Financial Policy In China

On January 15,2016,China formally promulgated the "Plan for Promoting the Development of Inclusive Financial Services(2016-2020)",which shows that the development of inclusive finance in our country has risen to a national strategy.Inclusive Finance has unique advantages in eliminating poverty,solving the financing difficulty of small and micro-enterprises and improving the availability of financial resources for population in rural areas.It is of great significance to promote "rural rejuvenation",increase the vitality of small and micro enterprises,and win the "Precise Poverty Alleviation " and so on.The development of inclusive finance needs not only the active participation of the market,but also the government's right guidance in the superstructure.The formulation and implementation of inclusive financial policies have an important influence on the development of inclusive financial in our country.Therefore,researching on the effectiveness of inclusive financial policies can not only increase the understanding of the current level of inclusive financial development in our country,but also it is of far-reaching realistic significance to grasp the development direction of the inclusive finance in our country.First of all,this dissertation sorts out and summarizes the domestic and foreign academic literature related to the study of inclusive finance,confirms the research object and research direction.Secondly,it elaborates the concept and theory of inclusive finance for the following empirical test part of the theoretical preparation;Thirdly,on the basis of a brief analysis of the status and existing problems of the development of inclusive finance in our country,the paper applies the research methods of comparative study and empirical test to the implementation of the inclusive financial policy in our country.The comparative study includes both the horizontal comparison between China and other countries in the implementation of the inclusive financial policy,as well as the longitudinal comparison of the implementation of the inclusive financial policy in the past years in our country.The two explanatory variables in the empirical study are respectively the ratio of loan-related agriculture loans to total loan balances,the loan balances of small and micro enterprises and total loans,and the explained variable is the ratio of agricultural GDP per capita to per capita GDP.The Granger causality test determines the correlation causal relationship between the relevant explanatory variables and the explained variables,while the multivariate linear regression is based on this,to further test the degree of influence among the relevant variables,and the final empirical result is forcefully shows that the implementation effect of our inclusive financial policy is effective.Finally,based on the experience of comparative studies and the empirical findings of empirical studies,the paper puts forward the following relevant policies and suggestions: First,actively promoting the reform of institutional mechanisms in financial institutions and accelerating the expansion of new-type rural financial institutions.Secondly,formulating specific policies on agricultural insurance and improving the system of agricultural insurance.Thirdly,speeding up the development of digital inclusive finance and innovate the way of inclusive financial development.Fourthly,improving the mortgage guarantee and credit system and enhancing the financing efficiency of "agriculture,rural areas and farmers" and small and micro enterprises;Fifthly,introducing special inclusive financial laws and regulations as soon as possible to implement the differentiated policies for inclusive finance.