On August 26, Vice President of the People’ Bank of China Yi Gang was present at “2016 China Inclusive Finance International Forum” in Beijing and issued keynote speech.

Yi Gang Pointed out, inclusive financing has significant to reinforce financing containment, support economic gain, employment promotion, eliminate poverty, realize social equity. In recent years, international community has got great achievement in the field of inclusive financing, but based on the estimation of the World Bank, there are still about 2000 millions of adult cannot sharing the most basic financing service. Long way to go to develop inclusive financing, every country needs to combine with the each physical truth, to take the pointed policies and measures.

Yi Gang Introduced, China as the G20 host state, the achieved progress to promote inclusive financing topic for discussion. One is to formulate G20 Digital Inclusive Financing High Class Principle, including 8 terms of principle, 66 items of action proposal, this is the first time of international community to push out advanced guideline document in the field. Two is to upgrade G20 Inclusive Financing Target System, increased new target of digital inclusive financing field. Three is to formulate Workable Framework of Action Plan of G20 Small and Medium Enterprise Financing, put forward to improve credit system of small and medium enterprises, encourage chattel mortgage financing, reform three terms of priority reform measures of bankruptcy system of small and medium enterprises.

Yi Gang summarized and shared 5 items of experiences of developing inclusive financing in the past 20 years in China: the first is to impel the construction of financing infrastructure. The second is to carry out motivative monetary policy and differentiation supervisory policy. The third is to support the innovation of rural credit cooperative and other inclusive financing main force organization and the development of new style financing organization. The fourth is to standardize and develop digital financing, support the innovation of inclusive financing products. The fifth is to enhance the education and protection to financing consumers.

Yi Gang emphasized, face the future, developing inclusive financing needs to think deeply 4 problems and seek for solution way in the innovation. The first is the problem of persistence of commerce, inclusive financing is not a charitable financing or relief financing, also is difference with policy-based financing, could not depend on fiscal subsidies and administrative order, but give full play of strength of main market players, seek for the pattern of persistence of commerce. Secondly is to need to pay attention to the problem of “Digital Divide”. The development of digital technique promoted coverage of financing service, but also could widen the difference of vulnerable groups of short of digital technical expertise and skills with the mainstream society. The third is the problem of inclusive financing development of developing countries of promoting low income. The fourth is the problem of the bank, in order to avoid anti-money laudering, anti-terrorist financing risk, to close website to cause the financing rejecting.

This forum was held by Renmin University of China and other organizations. Superintendents, practitioners and specialists, scholars of inclusive financing field from China and foreign countries had communications on the topical subject of embracing on the role and function of government, financing infrastructure construction, application of new technology, region practice of inclusive financing and so on.