Author: Liu Guiping, Member of the CPC PBC Committee and Deputy Governor of the People’s Bank of China
Abstract: In recent years, the international community has attached great importance to the development of financial inclusion, leading to new theories and practices as well as increased international cooperation in the field. Under the leadership of the Communist Party of China (CPC) Central Committee and the State Council, China has achieved significant progress in advancing financial inclusion, which has rendered strong support to poverty eradication, rural revitalization, pandemic control, and the provision of services for the people. Efforts have been undertaken to set up the mechanisms whereby financial institutions will have the confidence, willingness, ability, and professionalism to provide inclusive financial services. Work has also been underway to improve relevant infrastructures, to carry out pilot programs and demonstration projects, and to participate in international governance on financial inclusion. These efforts have brought into shape a model of financial inclusion with Chinese characteristics. As the Fifth Plenary Session of the 19th CPC Central Committee has highlighted the need to enhance the inclusiveness of the financial sector, financial inclusion has taken on greater significance. Going forward, we will continue to build a long-term mechanism that features affordable costs and commercial sustainability, promote the integrated development of inclusive finance, green finance, sci-tech finance, and supply chain finance, create a favourable ecosystem for digital financial inclusion, uphold the concept of responsible finance, and take active steps to achieve financial health, thereby fostering a new paradigm for the development of financial inclusion.
Keywords: financial inclusion, evolution, responsible finance, financial health
