Research on the Coordinated Development of Inclusive Finance and Financing for Small and Medium-sized Enterprises

As an important force in promoting economic and social development,small and medium-sized enterprises play a crucial role in enhancing China’s economic strength,creating employment opportunities,and promoting industrial structural transformation.However,due to their inherent weaknesses,small and medium-sized enterprises often face difficulties in financing within the traditional financial service system.This makes it difficult for small and medium-sized enterprises to inject vitality into the development of the market economy by expanding their financing scale.Since 2013,China has vigorously developed inclusive finance and extended the services of traditional financial institutions to small and medium-sized enterprises,providing policy guidance,resource support,and technical support to alleviate the financing difficulties of small and medium-sized enterprises.Based on this,this article focuses on the current financing problems faced by small and medium-sized enterprises and specifically elaborates on how to lower the financing threshold for small and medium-sized enterprises and broaden their financing channels through inclusive finance,in order to promote the development of inclusive finance and a virtuous cycle of financing for small and medium-sized enterprises.

An Empirical Analysis of the High-tech SMEs＇ Financing Based on Eviews5.0

This paper mainly studied the Financing Strategies of SMEs. It firstly collected literal reviews, and analyzed preliminarily the selection of the financing sample variables and data variables. Secondly, combined with Eviews5.0 software, it built a High-tech SMEs＇ financing model and deeply dug the factors affecting the financing of High-tech SMEs. Finally, combined with practical experience, this paper explored the measurements of financing taken by SMEs, and analyzed new financing channels. This paper made some contribution to the development of the High-tech SMEs＇ financing.

The Impact of Private Lending to SME Financing Based on SWOT Analysis

For a long time, private lending is the main channel for SME financing, and play an important role in solving the problem of SME financing.In addition,private lending also promotes the operation of private capital,which is conducive to the development of the national economy.This paper expound the development status of private lending, based on analysis of the SWOT, analyzing the strengths and weaknesses of private lending and private lending opportunities and challenges in the process of legalization.In the end of this paper, the author proposes appropriate coping strategies to solve threats and weaknesses that may exist for the development of private lending.

An Alternative Proposal for Financing for the Agricultural Sector (Agricultural SME’s Bonds)

In today’s environment,where SME’s financing continues to be a serious problem,systems that facilitate non-bank financing models different from traditional ones should be considered.In the present article a model of financing based on bonds for SME’s is proposed,very suitable for the agricultural sector or any group with little access to traditional financing.To improve the analysis,a fuzzy logic system is proposed that allows the most representative variables to be properly selected and take into account the uncertainty of the environment and the subjectivity of the analysts.

Current Situation of Digital Inclusive Finance in China

Inclusive finance is not only an innovation in financial service concepts but also an institutional arrangement to address the imbalance in social and economic development.Therefore,it is particularly necessary to study the current development status,development level,and challenges of inclusive finance and to conduct research on these issues.Overall,inclusive finance has demonstrated a positive momentum of development,but improvements are still needed in terms of market players,products and services,and the external ecosystem.China’s inclusive finance is still in its infancy,making it essential to accelerate its development and promote inclusive finance in the country.

How does financial literacy impact on inclusive finance?

Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses,especially those excluded from the formal financial system.One of the leading forces affecting people’s ability to access financial services in rural areas is financial literacy.This study investigated the impacts of financial knowledge on financial access through banking,microfinance,and fintech access using the Bangladesh rural population data.We employed three econometrics models:logistic regression,probit regression,and complementary log–log regression to examine whether financial literacy significantly affects removing the barriers that prevent people from participating and using financial services to improve their lives.The empirical findings showed that knowledge regarding various financial services factors had significant impacts on getting financial access.Some variables such as profession,income level,knowledge regarding depositing and withdrawing money,and knowledge regarding interest rate highly affected the overall access to finance.The study’s results provide valuable recommendations for the policymaker to improve financial inclusion in the developing country context.A comprehensive and long-term education program should be delivered broadly to the rural population to make a big stride in financial inclusion,a key driver of poverty reduction and prosperity boosting.

Financial Exclusion and Inclusive Finance

Inclusive finance is intended to address the barriers posed by financial exclusion to economic development. Therefore, an effective inclusive financial system must be designed to address financial exclusion rather than to provide long-term policy subsidies for financial relief. Financial exclusion in China has causes in economic development strategy, financial institutional arrangement, financial market structure, dominance of social relations, and constraints of risk evaluation. Eliminating financial exclusion and increasing financial inclusion essentially requires that our financial system be equipped with those functions through policy adjustment, institutional innovation and improvement of market rules. Existing bottlenecks of financial risk management should be eliminated to provide fair opportunities of financing for projects that contribute to social development with limited deviations from traditional credit costs. Inclusive finance is sometimes confused with policy subsidies, financial assistance and poverty relief loans, which cannot reflect efficiency, fairness and inclusion as the essential attributes of inclusive finance. The existing financial system must be adjusted to enhance risk management performance and advance financial market stratification and competition by creating fair and efficient legal and credit systems.

Research on the Impact of Chinese Digital Inclusive Finance on Industrial Structure Upgrade—Based on Spatial Dubin Model

Based on the panel data of 30 provinces, municipalities, and autonomous regions in China from 2011 to 2018, this paper uses the digital inclusive financial index and industrial structure upgrading coefficient of the Internet Research Center of Peking University as the core explanatory and explained variables to construct a spatial panel. Bin model performs regression analysis on the effect of digital inclusive finance in the upgrading of industrial structure. The results prove that the development of digital inclusive finance in this province and city has significantly promoted the upgrading of the regional industrial structure, and it has a positive overall effect on the upgrading of industrial structure.

Realization Path for Inclusive Finance to Support Rural Revitalization in Poverty-stricken Areas

Based on the quarterly economic,social and financial development data of 39 poverty-stricken counties in Henan Province during 2016-2018,this paper utilized the entropy-based TOPSIS method to objectively measure the rural revitalization index,and then built the quantile regression model to study the effects of various elements of inclusive finance on different stages of rural revitalization.Research results show that industrial development,agricultural modernization,targeted poverty alleviation,endogenous demand,and rural governance are the main points of inclusive finance in poverty-stricken areas to support rural revitalization;the rural revitalization index indicates that compared with the Dabie Mountain area and the non-contiguous poverty-stricken areas,the rural revitalization of the Qinba Mountain area is slower;for inclusive finance supporting rural revitalization,it is necessary to bring into play the role of monetary policy tools in re-lending,functions of credit in supporting industrial development,and role of insurance in risk protection;furthermore,inclusive finance solves problems such as the diminishing marginal effect of physical machinery investment in rural revitalization support,financial support for the coordinated development of small farmers and new agricultural business entities,financial support for the development of the entire industry chain,and the"siphon effect"of capital.

Research on the Spatial Influence of Digital Inclusive Finance on the High-quality Development of Private Economy

This paper selects China's provincial panel data from 2011 to 2020,uses the entropy method to calculate the high-quality development index of the private economy,and studies the spatial impact of digital inclusive finance on the high-quality development of the private economy based on the SDM model.The results show that:digital inclusive finance development has a positive effect on the high-quality development of the private economy in various provinces and cities,while it has a negative inhibitory effect on the high-quality development of the private economy in neighboring provinces and cities.In terms of spatial heterogeneity,digital inclusive finance in North China,East China,and Central and South China has a significant role in promoting the high-quality development of the private economy.The effect of North China,East China,and Central South is decreasing in order,while digital inclusive finance in Northwest China has a significant effect on the private economy.High-quality development has a negative effect.This paper provides empirical evidence and policy directions for the high-quality development of private enterprises in the context of the digital economy in the new era.

Inclusive Finance,Income Gaps and Common Prosperity

According to the Report to the 20^(th) CPC National Congress,delivering common prosperity for all the people is an intrinsic requirement of Chinese modernization.Based on China Household Finance Survey(CHFS)data from 2015 to 2019,this study examines the effects of inclusive finance on China’s household income disparities and demonstrates how inclusive finance contributes to shared prosperity.Our empirical research reveals that inclusive finance has significantly decreased the income disparities between Chinese households.Inclusive finance has significantly increased the income levels of households below the 40^(th) percentile,making it more likely for them to move above the 40^(th) percentile of incomes,which is conducive to delivering common prosperity.Our analysis indicates that inclusive finance will reduce income disparities by assisting low-income households in starting a business and by promoting rural household employment.Reflecting its inclusive nature,further investigation reveals that inclusive finance has a greater positive impact on the income level of vulnerable households.Our research offers new evidence for comprehending the role of inclusive finance and a new interpretation of income disparities,with policy implications for accelerating Chinese modernization.

Open banking and inclusive finance in the European Union:perspectives from the Dutch stakeholder ecosystem

In the European Union(EU),the revised Payment Services Directive(PSD2)aims to provide more convenient and customized financial products through open banking(OB)platforms.However,little attention has been paid to the role of OB in improving the financial well-being of the growing number of the EU’s underserved groups,which currently constitute approximately a quarter of its population.This study examines how the PSD2 and OB impact inclusive finance in the EU based on the perspectives of the Netherlands’ecosystem,one of the leaders in the EU’s financial technology(FinTech)landscape.A fundamental distinction can be drawn between the OB users and the ecosystem’s players.Regarding the impact of financial services on the users’inclusivity,while the PSD2 strengthens the infrastructure necessary for financial inclusion,many challenges remain,mainly because it was not designed for this purpose.This study identifies several areas of improvement that include adjustments to the know your customer and anti-money laundering processes for underserved customers,innovative ways to communicate the PSD2’s potential,and the regulation of technology providers’activities to build trust.Meanwhile,from the ecosystem’s position,there is a need to strengthen and improve microfinance regulation according to the opportunities provided by the PSD2 to support microfinance institutions(MFIs)in scaling up and reaching underserved clients across borders with innovative services.OB improvements can also be achieved by organizations formed by MFIs and FinTechs in collaboration with banks.Such hybrid institutions will combine the best features of each of them:knowledge of the needs of local underserved clients from MFIs,technological innovations from FinTechs,and large and trusted customer bases,infrastructures,and access to institutional investments and governments from banks.Finally,an EU inclusive OB sector depends on the centrality of trusted regulators as coordination bodies.The PSD2 requires adjustments for underserved populations’specific needs.OB improvements can be achieved by organizations formed by MFIs and Fin-Techs in collaboration with banks.Regulated technical service providers(TSPs)are crucial to building trust and customer adoption in OB.The European Banking Authority(EBA)may function as coordination body to design inclusive rules by engaging with OB stakeholders.As inclusive finance moves into open-finance and data eras,an increasing regulatory complexity and scope will require networks of innovative and trusted regulators.

The Digital Inclusive Finance and Enterprise Innovation:Evidence From A-Share Market

In China,the integration of digital technology and finance has gradually formed a digital supply mode of inclusive finance,which alleviates the financing limitations of small and medium-sized businesses to a certain extent and is significant for enterprise innovation activities that need financial support.Under the National Innovation-driven Development Strategy,it is particularly meaningful to evaluate whether digital inclusive finance can foster company innovation.This article empirically evaluates the impact of digital inclusive finance on firm innovation and development using data from all listed companies on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2011 to 2018 together with the city level digital inclusive finance index.The result shows how digital inclusive financing may support businesses’innovative processes,and its role in promoting innovation differs among enterprises of different scales,but such heterogeneity effect can be absorbed by industry effect and time effect.The result of this paper sheds lights on the role of digital inclusive finance in improving enterprise performance by solving the financing dilemma of them,and according to the empirical results,this paper suggests that the support for digital inclusive finance should be further improved in order to promote the good and healthy development of the real economy,which refers to the part of a country’s economy that produces goods and services,rather than the part that consists of financial services such as banks and stock markets.

High-quality Development Path of Henan Agriculture and Rural Areas Empowered by Digital Inclusive Finance

By studying high-quality development process of Henan agriculture and rural areas empowered by digital inclusive finance,it is found that the construction of digital financial infrastructure in Henan Province is relatively complete,and the level of deposit and loan of rural enterprises and farmers is constantly improving,and the market and government are constantly upgrading the financial risk insurance compensation mechanism.At the same time,there are also problems such as insufficient demand and supply of digital finance,single digital financial products,and weak market supervision.Based on this,some implementation paths are proposed,such as continuing to strengthen the construction of rural financial infrastructure in Henan Province,improving farmers’financial literacy,and enriching digital financial products and services.The government should continue to improve the construction of market system,and broaden the market supervision and management,to actively promote the digitalization of agricultural finance to enable the high-quality development of agriculture and rural areas in Henan Province.

A Positive Mutual Impact between Inclusive Finance and Poverty Alleviation

The contradiction between profitability requirement of commercial finance and non-profitability nature of inclusive finance inhibits bankers' motivation in providing financial services to farmers,further restricting the already narrow financing channels for low-income rural households and preventing them from jumping out of the poverty trap.There is a mutual promotion relationship between inclusive finance and poverty reduction.On one hand,providing affordable and subsidized financial services to farmers can help them increase income steadily; On the other hand,the institutions reap a good payoff by business expansion,a thick base of loyal clients,as well as public recognition,which in turn stimulates the institutes to provide more financial products,improve their service quality and scale up the investment amount for lowincome farmers.Nevertheless,to set off this positive feedback loop process,a forcible intervention by government is needed.On the base of theoretical analysis and practical research,this article brought related advice for financial institutions in order to promote the development of inclusive finance and alleviate the financing difficulties of farmers households to realize poverty alleviation.

SME share transfer system financing Efficiency Analysis

SME share transfer system financing has become the main theme of a new three-panel market.The efficiency of the new board of corporate finance and has become the core focus, more controversial aspects.SMEs in SME share transfer system market mainly private placement financing, equity financing pledge, and Transfer of Listing and mergers and acquisitions.This paper will be discussed by comparing the SMEs through SME share transfer system market financing, the use of a single sample T-test （One-Sample T Test） to verify the efficiency of the new board of corporate finance assets problem.

Empirical research on the SMEs＇ credit-guarantee in China

After the authors' thorough study of the experiments of other countries and regions, it is posed that credit-guarantee is the key for solving the problem of the difficulties of SMEs' financing.Based on two surveys and interviews with 57 SMEs and some commercial banks' staff, this study on the practice and implement action of SMEs' credit-guarantee revealed some problems existing in the practical process. A series of policy suggestions are given for improving the SMEs' credit-guarantee in China.

Rethinking SMEs’ Financing Predicament

A waveofsharpcriticism has been aimed atthebanks concerning the difficulties for China’ss mallandmedium-sized enterprises(SMEs)in acquiring financing,whilethe Central Government began to strongly urge banks to provide loans for SMEs.Shouldall SMEs be financed while the bankst ake theblame?Is there anyother viable way to pull SMEs outof the financial predicament?Qiu Haiping,a professor with the School of Economics at Renmin University of China,recentlye xamined the issue and offered insights in the Guangming Daily.Edited excerpts follow

Research on Inventory Pledge Financing Pledge Decision under Internet of Things Technology

Inventory pledge financing not only solves the financing difficulties of small and medium-sized enterprises,but also opens up business channels for banks.Under the random market demand,this article studies the pledge decision-making of perishable pledges in the inventory pledge business,On the basis of considering the supervision of the Internet of Things technology to reduce the loss rate of quality goods,a decision model of the pledge rate of the bank is constructed in the case of not adopting the Internet of things technology and adopting the Internet of things technology.The pledge rate decision-making model in the two technical situations aims at maximizing the profit at the end of the pledge period.The factors in the model such as the pledge rate,end-of-period income,and IoT technology coverage rate are analyzed respectively,and finally the decision-making process is verified through calculation examples.Studies have shown that,when Internet of Things technology is not adopted,the income of bank pledge business first increases and then decreases with the growth of pledge rate.After the adoption of Internet of Things technology,the income of Banks is inversely proportional to the coverage rate of Internet of Things technology.However,within a certain coverage range,Banks can obtain greater income by using Internet of Things technology to supervise pledges.

A Study on Financing Problems of Medium and Small-sized Technology-based Enterprises

Technology-based SMEs have the advantages of short construction period,fast decision-making mechanism,low management cost,high innovation efficiency,etc.However,financing difficulties have always been an important issue that plagues the development of high-tech SMEs.The problem of corporate financing will not only hinder the process of technological innovation,but also reduce the efficiency of achievement transformation.This article sorts out the typical financing problems of technology-based SMEs,and proposes suggestions from strengthening corporate system construction,broadening financing channels,enhancing market financing vitality,and improving support policy systems,in order to improve the financing of technology-based SMEs.