Innovation is the key to rural financial reform

The 2015 annual meeting of county finance put forward that the key to rural financial reform lies in innovation.

"the development of county economy is inseparable from financial support. At present, China's economy is in a critical period of structural adjustment, with overcapacity in traditional industries such as energy industry and manufacturing industry, while the rising trend of emerging industries is obvious, which means that rural financial institutions need to choose the right direction of investment. innovate financial products around emerging demand, so as to better guide the development of rural real economy. " Feng Haifa, director of the Economic Bureau of the Central Policy Research Office, said at the 2015 Annual meeting of China County Finance held a few days ago.

The 2015 China County Finance Annual meeting is jointly organized by the County Economic Research Center of Economic Daily, China County Economic Daily and the Beijing Regional Economic Association. Experts and scholars attending the meeting and representatives of grass-roots rural banks had a heated discussion on such topics as "development opportunities for small and medium-sized banks under reform", "development strategy and corporate governance of small and medium-sized financial institutions". The meeting pointed out that innovation is the key to promoting rural financial reform and solving the difficulties in loans for agriculture, rural areas and farmers and for banks to lend.

"under the new normal of the transformation of economic growth mode, county small and medium-sized financial institutions should adhere to and practice the concept of innovative finance." Wang Shuguang, deputy dean of the School of Economics and Management of Peking University, believes that rural financial innovation should focus on institutional mechanisms, product processes, cultural brands and other aspects, especially with the help of Internet modes of thinking and technical means. Big data is used to tap potential customers and achieve automatic credit screening, combining offline advantages close to local society with online advantages of Internet finance, so as to make financial services more accurate and efficient.

During the annual meeting, it was also announced that "China serves the leading bank of county economy". 20 county financial institutions, including Jiangsu Yixing Rural Commercial Bank, Shandong Haiyang Rural Commercial Bank, Guizhou Ziyun Rural Commercial Bank and Hebei Tangshan Rural Commercial Bank, were awarded the title of "China leading Bank for serving County economy".

It is reported that the selection campaign of "China serving the leading Bank of the County economy" was launched in September this year, and the selection Committee is based on the data of the financial institutions of the top 100 counties (cities) of the county economy. combined with the excellent county institutions recommended by the agricultural banks of major agricultural provinces and rural credit cooperatives, and at the same time taking into account the active declaration units that meet the selection conditions, the selection and screening are carried out layer by layer, and then after repeated demonstration. It ensures the authority and impartiality of the selection results.