A Research On The Development Level Of Inclusive Finance In China

In 2005,the United Nations "Blue Book of Inclusive Financial System" first proposed the concept of inclusive finance,and its development began to receive widespread attention.Inclusive finance refers to the provision of appropriate and effective financial services at affordable cost to all sectors and groups of society with financial services needs,based on the requirements of equal opportunities and the principle of business sustainability.This paper takes 31 provinces(municipalities and autonomous regions)in China as the research object,and puts forward 18 indicators for measuring the development degree of inclusive finance,and uses the Index of Financial Inclusion method and Factor Analysis method to calculate 31 provinces(municipalities and autonomous regions)in China.And compare the level of inclusive financial development in the three regions of East,Central and West.The Index of Financial Inclusion classifies 18 indicators into three dimensions before calculation,and uses the coefficient of variation method to obtain index weights,thereby calculating the inclusive financial index.The Factor Analysis method directly analyzes the factors of 18 indicators and passes the factors.The analysis gives 4 common factors,common factors weights and factor score coefficient formulas,to calculate the inclusive financial level scores of provinces,cities and regions.Through the calculation of two different methods,the results show that the eastern region is far ahead,the gap between the central and western regions is not large,and the western region has made rapid progress.The western region has made great progress in the coverage of financial institutions and financial hardware.Together with government policy support,it is catching up with the central region,with Tibet's progress being the most significant.The degree of development of inclusive finance in the eastern region is far from that in the central and western regions.The resources of China's inclusive financial services are unevenly distributed.The development of inclusive finance needs to transfer resources to the central and western regions,and promote the development of the western and western economies.And the increase in income,promote the balanced development of East,Central and West.In the calculation process,we found that the availability of financial services plays an important role in the development of inclusive finance.For the time being,the development of inclusive finance still needs the financial institutions such as banking to spread the business and expand the coverage of financial services.