(Economic Observation) How to practice "slow skills" after China's rapid development of inclusive finance?

　　China News Service, Beijing, October 22 (Reporter Wang Enbo) With the attention and promotion of all parties, the coverage, accessibility, affordability and service quality of China's inclusive financial services have been significantly improved in recent years.

How to practice "slow gong" after rapid development has become a question that needs to be considered next.

During the 2021 Financial Street Forum Annual Meeting held in Beijing from the 20th to the 22nd, many participants spoke about this.

　　Fan Yifei, Deputy Governor of the People’s Bank of China, introduced that the central bank actively innovated and used structural monetary policy tools to highlight directness and precision, achieve incentive compatibility through market-based means, and guide financial institutions to increase support for private small and micro enterprises and other fields , To comprehensively improve the quality and efficiency of inclusive financial services.

　　According to statistics, as of the end of September, China's inclusive small and micro loan balance was 18.6 trillion yuan, a year-on-year increase of 27.4%, and it supported more than 40 million small and micro business entities in financing, a year-on-year increase of 30.8%.

At the same time, since September 30, 12 measures to reduce the fees paid by small and micro enterprises and individual industrial and commercial households have been fully implemented, and the effect of the policy has initially appeared.

　　It should be noted that inclusive financial services is a process of continuous improvement and perfection, and the main contradiction between supply and demand changes at different stages, so it is necessary to adjust the service supply in time.

　　"All of these require'slow work' and long-term work." Xiao Yuanqi, vice chairman of the China Banking and Insurance Regulatory Commission, emphasized that the current development of inclusive finance requires careful attention to two aspects to improve service accuracy.

　　First, in addition to the increase in the number of inclusive financial institutions and the decrease in the cost of funds, we must also pay attention to changes in real financial needs.

For example, people currently have a great demand for major illness insurance, long-term care insurance, catastrophe insurance, and agricultural insurance. Meeting relevant needs is not only conducive to rapid recovery of production and life, reducing losses, but also conducive to preventing poverty caused by illness and returning to poverty due to disasters. Elderly people in need of care can get better care through commercial channels.

　　Second, it is necessary to provide financial services that can smooth the business cycle and income fluctuations.

Financial institutions must be good at providing financial products that are more flexible and stable in terms of terms, terms of use, and repayment arrangements based on risk assessment, meet financial needs in different situations, and prevent customers from changing business cycles and income fluctuations And stop production and affect life.

　　The widespread application of digital financial tools such as mobile payment and big-tech credit has effectively improved the difficulties of payment and loans, which is one of the important reasons for the rapid development of inclusive finance in China.

　　However, in the view of Huang Yiping, deputy dean of the National Development Research Institute of Peking University, China's digital financial innovation and development in the past belonged to "barbaric growth" in a certain sense. Now the regulatory authorities require full coverage of financial supervision, that is, "there are thresholds, rules, and market order." "This is a new state of development, which will push inclusive financial services into a new stage.

　　Huang Yiping predicts that in this context, there will be some new developments in digital technology services for financial inclusion.

For example, the implementation of the central bank's digital currency will further enhance the convenience of payment.

In terms of loans, the future digital supply chain finance will directly provide services for small, medium and micro enterprises embedded in the supply chain and industrial chain, so as to better control risks and serve the real economy.

　　"Inclusive finance is a long-term systematic project that requires further consolidation of the foundation and high-quality and in-depth advancement." Ji Zhihong, vice president of China Construction Bank, mentioned that in recent years, emerging risks related to data other than traditional risks have gradually emerged, such as data The exposure of customer privacy caused by leaks, financial fraud caused by data fraud, and the accumulation of risks caused by model inefficiency have posed new challenges and issues for financial institutions to improve their risk control capabilities.

　　Ji Zhihong believes that while promoting the development of digital inclusive finance, it is necessary to further improve the protection of consumer rights, the construction of anti-fraud systems, and the construction of long-term model risk control mechanisms to ensure the stability and long-term development of digital inclusive finance.

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