Financial infrastructure and financial ecological construction
Original, GPIG, 08-16-2016
According to the annual report of poverty reduction and development, in 2013, Bank of China implemented the spirit of the “Outline for Development-oriented Poverty Reduction for China’s Rural Areas (2011-2020)” and the “Opinions on Mechanism Innovation to Steadily Promote Rural Poverty Alleviation and Development” (Zhong Ban Fa No. [2012] 25), actively played its role as the central bank, improved the monetary and credit policy guidance, promoted financial products and services innovation, developed inclusive finance in rural areas, supported the healthy economic and social development in poor areas and helped the masses to shake off poverty. Here are the measures of Financial infrastructure and financial ecological construction taken by the People’s Bank of China .
1. Optimized the financial institution layout and improved the payment environment of poor areas. Supported and encouraged banking, securities and insurance institutions to set up branches in poor areas and expand the coverage to communities and towns. Strengthened the opening and management of bank accounts in poor areas, taking the good opportunity of farmers-benefiting subsidy issuance, vigorously guided rural residents to open personal bank accounts to facilitate the bank transfer for rural households.
Supported rural credit cooperatives and rural banks to participate in the interbank payment system of the People’s Bank of China to promote the extension of the payment and clearing network to rural poor areas.
Actively provided farmer-benefiting payment services, made rational distribution of ATM, POS machines and account transfer phones and continued to deepen bank cards’ farmer-supporting withdrawing service and migrant workers’ special bank card services, effectively satisfying the basic financial needs of farmers, such as balance inquiries, cash withdrawals, bank transfers, consumption and payment in poor areas.
As of the end of 2013, the country had set up a total of 5,427 county-level banking institutions, 42347 service outlets, 131 securities branches, 4585 insurance offices and 565,900 ATM, POS machines and other self-service equipment in poverty-stricken areas.
2. Continued to promote the construction of rural credit system and the development of small credit loans in poor areas. In 2013, with the support of local governments and relevant departments, the People’s Bank of China promoted the construction of rural credit system, continued to make propagandas on credit and financial knowledge, carried out credit information collection and evaluation and promoted the construction of “credit households”, “credit villages” and “credit towns”.
Further strengthened the construction of information database for farmers and agribusiness, integrated the social credit information through various channels, supported the financing of trustworthy farmers and corporates and gave full play to the important role of rural credit system in enhancing the credit rating of rural production and management subjects, mobilizing the enthusiasm for financial institutions to support farmers and increasing economic vitality in rural areas.
As of the end of 2013, we set up credit files for a total of 39.8091 million rural households in poor areas and identified 28.1845 million trustworthy rural households; the balance of small credit loans in poor areas amounted to 194.615 billion yuan, up 19.89%.
Original, GPIG, 08-16-2016
According to the annual report of poverty reduction and development, in 2013, Bank of China implemented the spirit of the “Outline for Development-oriented Poverty Reduction for China’s Rural Areas (2011-2020)” and the “Opinions on Mechanism Innovation to Steadily Promote Rural Poverty Alleviation and Development” (Zhong Ban Fa No. [2012] 25), actively played its role as the central bank, improved the monetary and credit policy guidance, promoted financial products and services innovation, developed inclusive finance in rural areas, supported the healthy economic and social development in poor areas and helped the masses to shake off poverty. Here are the measures of Financial infrastructure and financial ecological construction taken by the People’s Bank of China .
1. Optimized the financial institution layout and improved the payment environment of poor areas. Supported and encouraged banking, securities and insurance institutions to set up branches in poor areas and expand the coverage to communities and towns. Strengthened the opening and management of bank accounts in poor areas, taking the good opportunity of farmers-benefiting subsidy issuance, vigorously guided rural residents to open personal bank accounts to facilitate the bank transfer for rural households.
Supported rural credit cooperatives and rural banks to participate in the interbank payment system of the People’s Bank of China to promote the extension of the payment and clearing network to rural poor areas.
Actively provided farmer-benefiting payment services, made rational distribution of ATM, POS machines and account transfer phones and continued to deepen bank cards’ farmer-supporting withdrawing service and migrant workers’ special bank card services, effectively satisfying the basic financial needs of farmers, such as balance inquiries, cash withdrawals, bank transfers, consumption and payment in poor areas.
As of the end of 2013, the country had set up a total of 5,427 county-level banking institutions, 42347 service outlets, 131 securities branches, 4585 insurance offices and 565,900 ATM, POS machines and other self-service equipment in poverty-stricken areas.
2. Continued to promote the construction of rural credit system and the development of small credit loans in poor areas. In 2013, with the support of local governments and relevant departments, the People’s Bank of China promoted the construction of rural credit system, continued to make propagandas on credit and financial knowledge, carried out credit information collection and evaluation and promoted the construction of “credit households”, “credit villages” and “credit towns”.
Further strengthened the construction of information database for farmers and agribusiness, integrated the social credit information through various channels, supported the financing of trustworthy farmers and corporates and gave full play to the important role of rural credit system in enhancing the credit rating of rural production and management subjects, mobilizing the enthusiasm for financial institutions to support farmers and increasing economic vitality in rural areas.
As of the end of 2013, we set up credit files for a total of 39.8091 million rural households in poor areas and identified 28.1845 million trustworthy rural households; the balance of small credit loans in poor areas amounted to 194.615 billion yuan, up 19.89%.
