It is more urgent to solve the problem of farmers'"difficult loan" than "expensive loan".

Recently, the "3rd Internet Finance Bund Summit" hosted by Shanghai New Financial Research Institute (SFI) was held in Shanghai. As an important topic,"the inclusive new model of rural finance" was widely concerned by the three rural circles and the financial circles. Experts and representatives of enterprises attending the meeting believed that rural areas were the least likely to receive financial support, and loans were more difficult than loans. It is difficult to get loans in rural areas, especially for ordinary farmers, and it is even more difficult for poor farmers and low-income farmers to get loans. This group is very large, rural development inclusive finance, should focus on this group.

Where is the difficulty--

Information asymmetry, high cost, high risk

"Why is it difficult to get a loan? Because the characteristics of farmers 'production and life are not compatible with the system, system and operation mode of formal financial institutions. Modern finance has gradually developed with the industrial and commercial society in cities. Loan products, including operating procedures, are designed for the characteristics of industrial and commercial enterprises. Farmers are not acclimatized." Duan Yingbi, president of the China Foundation for Poverty Alleviation, pointed out at the forum that banks often encounter three difficulties in providing financial services to farmers with the same set of methods: one is asymmetric information. Farmers are different from industrial and commercial enterprises, lacking standardized financial statements and systematic transaction records. It is difficult for the bank to know his true financial position. Second, the cost is high. The residence of farmers is very scattered, and the amount of a single loan is very small, generally one or two thousand yuan, some even several thousand yuan. The cost of going over mountains and mountains to lend farmers thousands of yuan or tens of thousands of yuan is very high. With tens of millions, hundreds of millions of large loans, the cost can not be compared, the same interest rate he will lose. Even if he didn't lose money, he wouldn't make any profit. Third, the risk is high. Farmers have no collateral and cannot find guarantees. He was originally engaged in agricultural production, including planting, breeding, in addition to market risks, there is also a natural risk. Add to that the lack of collateral and collateral, and banks feel too risky to service them.

The difficulty of loan repayment has something to do with farmers 'weak sense of self-protection. In the practice of rural micro-credit, Yixin Company found that the credit records in the loan process brought them difficulties: because most farmers followed the five-household warranty, they had weak awareness of their own information protection. In one village, big families used their ID cards to borrow money, big families had problems, and the credit of the whole village was broken.

In order to solve the problem that farmers have no collateral, the state allows contracted land and homestead to be mortgaged, which should be said to be a good policy. However, Duan Yingbi believes that there are two problems in the actual operation that have not been solved at present: one is how to evaluate? Because there is no unified market, how much is that piece of land, that house worth? It's hard to calculate. Second, it is difficult to realize. In case the loan does not come back, it is very difficult for the bank to take the homestead and use the land to realize it. Homestead houses can only be sold to farmers in their own village, not to city dwellers. The suburbs of big cities are better, some rural people go out to work, the house is empty. A house, bankruptcy, can not repay the loan, you take his house, where does he live? These are specific issues, and banks are cautious when implementing policies.

How to break the bottleneck--

Establishing a New Credit Model of "Three Specialties"

"The goal of inclusive finance is clear: to serve the poorest people. This is a concept of a system. It needs to establish an ecological environment from macro policies and laws to medium infrastructure construction to micro financial innovation, so as to truly solve the financial service problems of the lowest end groups." Bai Chengyu, secretary-general of China Microfinance Alliance, said.

"To solve the problem of low and middle-income farmers 'difficulty in obtaining loans, a better way is to establish a so-called' three-in-one public'." Duan Yingbi said that the so-called "three specialties": First, there are specialized institutions, only to low-income, poor farmers to provide loans, but not to large loans. Second, there are professional teams, mainly rural recruitment of credit officers. This loan officer provides "five insurances and one gold", which is the company's employees, must be full-time. Third, there are special loan varieties and professional operation procedures. According to the production and living characteristics of low-and middle-income farmers in various places, some loan products and operation procedures are tailored, not according to a set of designs of financial system. The so-called "one public" is public welfare, not for profit. According to the company's operation, market-oriented operation, only requires it to cover costs, maintain a small profit, does not require it to make a lot of money.

Duan Yingbi found in the investigation that some places have adopted the "joint cooperation method of bank guarantee". That is to say, the government leads the finance to establish a risk fund, and asks the insurance company to set up a new type of insurance, such as loan guarantee insurance, to encourage banks to lend to poor farmers. In the specific implementation, it is not simply given to poor farmers, but in fact there are leading enterprises using the money. The biggest advantage of this is that it has quick effect and large scale. In just half a year or so, billions of dollars have been put down in a province, and every farmer who has established a filing card has obtained loans, which is the biggest advantage. However, it remains to be seen whether this fiscal approach is sustainable.

"Now it is difficult to solve the loan problem is Internet +, but not all Internet models are suitable for rural areas." For example, in our micro-loan, what farmers need most is to tell them how to operate the information. Yixin has a mobile financial service platform specifically for the rural market-Huinong Platform. We found that the mobile terminal model is more suitable for the rural market than the PC terminal model, and the operation is very simple." Yixin Puhui senior vice president Wang Wei told reporters, To let farmers easy to leave information, Not for them very difficult to choose a variety of operations. Moreover, they have more low-end mobile phones and do not support particularly cumbersome processes, so the simpler the operation process, the better.

How to be more sustainable--

"Three forces in one" expands cost-benefit points

"It is difficult to solve the loan problem and can also jump out. Rural households, especially large ones, need loans for the purpose of expanding reproduction. For such groups, we try to do it in the form of financial leasing. For example, agricultural machinery leasing, there are 11 categories of leasing modes in the whole agricultural machinery field in China, and we have done 7, basically covering from planting to harvesting. This business currently covers 22 provinces with more than 300 partners, more than 300 of whom are agricultural machinery dealers." Wang Wei said, In rural business, Do not innovate can not persist, Must do everything possible to reduce costs, Let more customers know our information, Otherwise all rely on people, This cost will be very high. At the same time, she appealed that last year Yixin "Yiding Niu" business pioneered domestic living financial leasing. At present, the company is further trying to explore living leasing business, hoping that the government can define some new asset classes for living leasing business.

"The traditional financial service system has a cost-benefit boundary, and businesses beyond this boundary will not be done because it is not cost-effective." Now to develop inclusive finance, its essence is to push out the boundary of cost and benefit to include all social strata and groups into the financial service system. This is the essence of our development of inclusive finance." Ye Xingqing, director of the Rural Economic Research Department of the Development Research Center of the State Council, proposed at the forum.

How do you extrapolate the cost-benefit point? Ye Xingqing believes that it depends on three forces to jointly promote: one is to rely on technological progress, through the progress of digital technology, so that the marginal cost of financial services continues to reduce. Through model innovation, boundaries can also be pushed outward. Microfinance's high interest rates cover high costs and are one way to cover borders. In addition to relying more on market methods to push boundaries outward, there are two important factors. One is to have feelings to do this. Inclusive finance, especially rural microfinance, should have a spiritual force, which is a very important condition. Another is to give a relatively loose environment in terms of policies and even give some policy support, which are also very necessary. Only through the market-oriented force, spiritual force and policy support to jointly promote the critical point of cost-benefit, can the article of rural inclusive finance be done well.