In 20 15- 12, China issued the Notice on Promoting the Development Plan of inclusive finance (20 16-2020), which made it clear that by 2020, inclusive finance should establish a service and security system suitable for building a well-off society in an all-round way, especially for small and micro enterprises, farmers, urban low-income people and the poor.
In recent years, under the guidance and promotion of policies, China's banking industry has taken a series of measures to develop inclusive finance. For example, large banks set up inclusive finance business department, while small and medium-sized banks intensified innovation in financial products and services, expanded coverage of basic financial services, improved convenience of financial services, and strengthened the supply of weak financial services, and achieved remarkable results.
However, there are still some shortcomings and problems in inclusive finance. China has a vast territory, unbalanced economic development and different levels of regional development, so it faces great challenges to comprehensively promote inclusive finance. In recent years, pseudo-innovation under the banner of "inclusive finance" is very popular in China, which infringes on the legitimate rights and interests of financial consumers, disrupts the financial order and affects social stability to some extent. In this case, how to achieve "cost coverage" and "risk control" in inclusive finance needs further exploration.
To change the shortcomings and problems existing in inclusive finance, we need to increase the government's capital investment and policy support, do a good job in the construction of infrastructure and credit environment, and it is important to promote the further development of inclusive finance with the help of the in-depth application and innovation of digital technology. 2065438+In September, 2006, the G20 Hangzhou Summit issued the Advanced Principles of Digital inclusive finance and put forward the Digital inclusive finance. Undoubtedly, digital inclusive finance is an important way out for inclusive finance's sustainable development. From the bank's point of view, the key is to adhere to the principle of commercial sustainability, rely on financial technology to innovate products and services, explore a new development model of inclusive finance, take the road of digital inclusive finance development, and enhance the service capacity and efficiency of inclusive finance.
The scope of inclusive finance is very extensive. In inclusive finance, everyone can get the financial services they need more conveniently and at lower cost, including deposit and withdrawal, small loans and even small change. If you want a more accurate answer, you should be more specific. Let's talk about the issue of pushing micro-loans in rural areas, which is an important content of inclusive finance. The biggest difficulty is that we can't find anyone at ordinary times, so we all go out to work. Then, after the loan is released, it is difficult to collect money at maturity. If you want to know more, you can talk privately.
Question 1: Pratt & Whitney has fierce competition and serious product homogeneity.
On the one hand, at present, there is no unified interest rate pricing in the marketing of Pratt & Whitney products, so "interest rate wars" and looting are prone to occur in the marketing process, which makes the financing structure of enterprises unstable or blindly expanding.
On the other hand, in order to meet the financing needs of small and medium-sized enterprises in the process of transforming old and new kinetic energy, effectively enhance customer stickiness and establish a new service model for small and medium-sized enterprises adapted to the modern economic system, all four banks have innovatively launched "Internet plus corporate tax loan products". For example, there are four kinds of corporate tax credit loan products in the market, as shown in the following table:
Generally speaking, all the above products are connected with industrial and commercial, taxation, finance and other models through big data, which has achieved large-scale online customer acquisition, solved the problems of information asymmetry and difficult guarantee to a certain extent, and greatly improved service efficiency and convenience. However, from the perspective of product development and customer orientation, how to further strengthen product innovation and build a distinctive micro-credit product system is a challenge in inclusive finance's business development.
According to the "Data of Main Supervision Indicators of Banking and Insurance Industry in the First Quarter of 2020" recently released by the China Banking Regulatory Commission, the balance and ratio of non-performing loans of commercial banks increased at the end of the first quarter, but the quality of credit assets was generally stable, mainly due to structural factors and the short-term impact caused by the epidemic, which led to an increase in the non-performing loan ratio of the banking industry in the first quarter, and the outbreak of non-performing loans still lagged behind, which also brought challenges to banks to expand inclusive business.
In recent years, some banks have set up inclusive finance Business Department, and initially established an organizational structure and efficient operation mechanism that can realize the organic integration of green finance, inclusive finance and rural finance.
However, judging from the number of employees of Pratt & Whitney, most of them are part-time Pratt & Whitney businesses, especially in grassroots outlets where Pratt & Whitney businesses are very important, such as county towns.
Generally speaking, our Pratt & Whitney line presents the problem of lagging development of specialized team building. On the one hand, the account manager team is understaffed. The business acceptance speed of account managers of some branches within their jurisdiction cannot keep up with the development speed of small and micro enterprises and the marketing speed of other banks; On the other hand, the team engaged in small and micro enterprise business is not highly specialized. At present, in order to meet the needs of market competition and development, the iteration speed of microfinance products is very fast, but some account managers are used to the traditional microfinance business process, and their acceptance of new products of small and micro enterprises is not high, and their foundation in product development and design, service innovation and risk management is relatively weak.
Countermeasures:
(A) to strengthen the concept of renewal, fully understand the strategic significance of financial service innovation of small and micro enterprises.
(2) Practice the internal strength of service and comprehensively promote the innovation of financial service system and mechanism for small and micro enterprises.
(3) Strengthen strategic alliances and strive to improve the ecological environment for financial service innovation of small and micro enterprises.
(4) Strengthen team building and cultivate an excellent team capable of fighting.
After the United Nations put forward the concept of inclusive finance in 2005, the international community began to pay extensive attention. Underdeveloped countries and regions have vigorously promoted the development of inclusive finance, and many countries have made gratifying achievements. In recent years, the government of China has also issued a series of documents to vigorously promote the development of inclusive finance in China, aiming at enabling all social strata and groups to enjoy appropriate and effective financial services, so as to establish an effective and all-round financial system that provides services for all social strata and groups.
With the vigorous promotion of the government and the joint efforts of all walks of life, inclusive finance service in China has made amazing progress, initially established a diversified service system, reached a certain level of service coverage, and mobile Internet payment has been popularized. According to the report issued by the People's Bank of China, by the end of 20 18, the loan balance in inclusive finance reached 13.39 trillion yuan. However, compared with its huge customer and capital demand, there is still a big gap between inclusive finance's development and China's economic and social development requirements and social expectations. How to further promote the development of inclusive finance has become an important topic for deepening the financial system reform in China.
1 problems exposed by the development of inclusive finance, China
1. 1 inclusive finance top-level design is not in place.
In recent years, China has attached great importance to the development of inclusive finance at the national level and issued many relevant policy documents to promote its development. These documents have planned the development of inclusive finance at the macro level, but they have not been detailed, and there is no systematic layout of inclusive finance, which leads to the lack of subjective initiative of financial institutions in developing inclusive finance.
In addition, there are problems in the top-level design of infrastructure in inclusive finance. First of all, the relevant legal system in inclusive finance is not perfect, which leads to the lack of clear legal norms for the development of inclusive finance. Secondly, the construction of credit system in inclusive finance is slow. Because of the special customers of Pratt & Whitney Financial, the construction of credit system in inclusive finance is very difficult. Finally, the regulatory policies in inclusive finance are not perfect, which leads to the lack of regulation in inclusive finance.
1.2 I don't know much about inclusive finance.
Inclusive finance's service providers and consumers have a poor understanding of inclusive finance. Some service providers in inclusive finance misunderstand inclusive finance and equate inclusive finance with "helping the poor". Either they ignore the risk problem, lower the credit standard and blindly promote the development of inclusive finance, or they feel that the risk is too great and they are unwilling to provide services in inclusive finance, which hinders the development of inclusive finance.
At the same time, because the consumers served by inclusive finance are vulnerable groups, these people have a relatively low level of education and little understanding of finance. When they know little about the products provided by inclusive finance, it is easy for them to see the high returns and ignore the risks, thus causing disputes with service providers. There are also some illegal organizations that take advantage of consumers' poor financial knowledge and do some illegal fraud in the name of inclusive finance, which has caused a very bad social impact, thus restricting the development of inclusive finance.
1.3 inclusive finance's service system is not perfect.
At present, China has initially established a diversified inclusive finance service system with commercial banks as the main body and various financial institutions coexisting. However, large financial institutions, such as commercial banks, mainly serve high-end customers and pay little attention to the development of inclusive finance, which leads to the slow progress of inclusive finance. However, the financial institutions, mainly microfinance companies and rural banks, mainly serve rural finance and microfinance, but their own strength is insufficient and their technology is relatively backward, which leads to their insufficient service and coverage. However, most policy-oriented financial institutions rely on financial allocation, which lacks commercial sustainability and cannot guarantee the sustainable development of inclusive finance.
1.4 The wind control system in inclusive finance is not perfect.
Inclusive finance is characterized by high risk because of the particularity of its customers. In addition to traditional risks such as credit risk, interest rate risk, operational risk, liquidity risk and national risk, inclusive finance is also faced with technical risk, legal risk, information security risk, fund misappropriation risk, money laundering and cash-out risk derived from the development of inclusive finance. [1] inclusive finance needs to establish a sound risk control system.
At present, inclusive finance has not established a safe and effective risk prevention system, and there are big problems in risk control. Consumers in inclusive finance are mainly long-tailed groups, and it is difficult to collect information, which leads to great difficulty in risk control and high investigation cost. Traditional risk control methods simply can't adapt to the risk control in inclusive finance. [2] Therefore, many financial institutions ignore risks, resulting in a lot of risk accumulation.
1.5 inclusive finance's product innovation ability is insufficient and its financing cost is high.
At present, although service providers in inclusive finance have introduced many inclusive finance products, there are many problems in the design of most products, such as inflexible design in terms of loan amount, loan term and guarantee method, serious homogenization and lack of innovation, especially in terms of high interest rate. Consumers in inclusive finance have a wide range of sources and different needs, and these products often can't meet their needs at all. Moreover, a large number of consumers of inclusive finance products lack the ability to identify products, and the supervision of products by the regulatory authorities is not in place, which leads to the market confusion of products in inclusive finance and the increased risk in inclusive finance. In addition, at present, the financing cost of most inclusive finance products is around 15% ~ 20%, which is lower than usury, but much higher than the loan interest rate of banks. This will undoubtedly have a negative impact on the promotion of inclusive finance products and the provision of inclusive services.
2 Countermeasures to promote the development of inclusive finance, China
2. 1 Strengthen the top-level design and improve the infrastructure construction in inclusive finance.
The development of inclusive finance should be market-oriented, but it also needs the planning and guidance of the government. Our government should further carefully plan the development of inclusive finance, systematically lay out the overall planning, balanced layout, organization and coordination, policy support and other aspects, establish a more inclusive financial system, improve the efficiency of financial resource allocation, and organically unify social and economic benefits.
In terms of infrastructure in inclusive finance, we should first speed up the construction of relevant legal systems in inclusive finance, and actively introduce inclusive finance laws and regulations to regulate the development of inclusive finance while protecting inclusive finance. Secondly, speed up the construction of inclusive finance's credit system and credit platform, actively combine financial technology, expand the coverage of the existing credit system, and alleviate the information asymmetry in the development of inclusive finance. Finally, strengthen supervision, improve inclusive finance's supervision toolbox, crack down on illegal acts in time, and correct acts that disrupt market order.
2.2 Raise awareness and strengthen the education and protection of financial consumers.
On the one hand, strengthen the training and awareness of service providers in inclusive finance, so that they can clearly understand that inclusive finance is not "helping the poor". Although inclusive finance is a financial model for vulnerable groups, it has a wide business scope and a large demand for funds, and it is a "blue ocean" of business, waiting for inclusive finance service providers to vigorously explore. At the same time, in the development of inclusive finance, we can't ignore the risks, and we can't blindly promote them. We must actively promote it in accordance with market rules.
On the other hand, we should improve the consumer education and protection system. Inclusive finance service providers should actively carry out financial literacy and popularize financial knowledge with the help of Internet, Weibo, WeChat, brochures, publicity vehicles and other tools, so that inclusive finance consumers can use financial tools reasonably and enjoy financial services. At the same time, the government should formulate policies to protect consumers' rights and interests, properly handle financial consumption disputes and protect the legitimate rights and interests of vulnerable groups. Only in this way can we create a good financial ecological environment and better promote the development of inclusive finance.
2.3 Improve inclusive finance's service system and deepen the reform of the financial system.
The state should speed up the reform and transformation of existing traditional commercial financial institutions, actively guide large financial institutions represented by commercial banks to continue to support the development of inclusive finance, expand its penetration and coverage in the inclusive finance market, and improve the service level and quality. On the basis of existing microfinance companies, village banks and other financial institutions, the state should learn from the experience of Grameen Bank, guide all kinds of capital to enter the inclusive finance market by improving relevant supporting policies and providing policy support, set up special inclusive finance institutions, and enhance inclusive finance's direct service to consumers. We should further expand and strengthen the functions and capabilities of policy financial institutions to fully support the development of inclusive finance.
2.4 With the help of financial technology, improve the risk control system in inclusive finance.
With the rapid development of inclusive finance, potential financial risks are accumulating. At present, most service providers in inclusive finance still use the traditional risk control system to prevent and control risks, which cannot meet the development needs of inclusive finance in China. China has formed a modern inclusive finance development system based on Internet. In terms of risk prevention and control, China should also make use of the characteristics of financial technology, reasonably apply it to risk prevention and control in inclusive finance, and establish a risk control system in inclusive finance that matches China's inclusive financial system. Inclusive finance service providers should actively apply big data and other financial technologies to every link of inclusive finance business before, during and after lending, improve their own financial risk analysis and evaluation level, improve the risk control model, and accurately identify, warn and prevent inclusive finance risks. Governments at all levels should also introduce corresponding support policies to promote the digitalization of inclusive finance.
2.5 Reduce financing costs and launch customized products and services.
Service providers in inclusive finance should strengthen independent innovation according to the diversity of consumers' financial needs, and provide customized services for consumers by combining financial technology. Inclusive finance service providers can reasonably design loan amount, loan term, loan interest rate and guarantee method according to consumers' different financial service needs and their own situation, so as to provide them with high-quality inclusive finance services. In inclusive finance's product innovation, we should pay special attention to the innovation of guarantee methods, not only limited to real estate mortgage guarantee, but also actively try insurance fund guarantee, mutual guarantee and reinsurance guarantee. When designing the product loan interest rate, we should take the road of preserving capital and making small profits. Inclusive finance should provide financial services to consumers in a low-cost, wide-coverage, accessible and sustainable way. Service providers in inclusive finance should find a balance between economic interests and social interests, and provide "inclusive" financial services for consumers in inclusive finance.