Chinese Academy of Social Sciences: the financial gap between agriculture, rural areas and farmers exceeds 3 trillion yuan.

China's first "agriculture, rural areas and farmers" Internet financial industry blue book-- China's "three Rural" Internet Financial Development report (2016) (hereinafter referred to as "Blue Book"), has recently been compiled by experts from the Institute of Financial Strategy of the Academy of Social Sciences. and on the morning of August 18, it was officially released in the academic lecture hall of the Department of Finance and Economics of the Academy of Social Sciences. The blue book pointed out that in 2014, the demand for loan input in the field of agriculture, rural areas and farmers was about 8.45 trillion, minus 5.4 trillion of the actual loan balance of farmers, the gap in the finance of agriculture, rural areas and farmers reached 3.05 trillion, and the effective supply of finance for agriculture, rural areas and farmers was seriously insufficient.

"with such a large demand gap, our financial supply is seriously inadequate. In this case, our Internet rural finance came into being. " Xu Hongcai, head of the Economic Research Department of the China Center for International Economic Exchange, said.

The blue book points out that Internet financial means such as online lending and equity crowdfunding can eliminate regional discrimination in finance and actively attract surplus funds from cities to return to rural areas by virtue of technological advantages. At the same time, we can effectively identify the loan farmers with potential repayment ability, capitalize the credit, and establish the farmers' credit record by providing credit and micro-loan support to the farmers who lack credit history and collateral. Lay the foundation for their access to traditional financial services. The accelerated development of mobile Internet not only rapidly reduces the operating costs of finance, but also provides more solutions for the popularization of finance to poor areas.