Analysis and Proposals on the Poverty Reduction Effect of Inclusive Finance in China's Counties

Abstract

Poverty has long been an important issue in China's development, and the disparity between rich and poor in many families is obvious, which hinders the development process of China's economy and the stability of social development. Although China has implemented numerous poverty alleviation measures, poverty still plagues the daily lives of many families and hinders social progress, with a particular concentration of poor families in counties. The current policy of precise poverty alleviation and poverty alleviation is driven by county financial reform and innovation, while a variety of measures have been taken to rely on the financial industry to solve the problem of poverty in counties has become the current guiding direction for policy formulation and social development. Inclusive finance refers to a financial service system that will provide services to all segments of society (especially poor households) in a reasonable and diversified manner according to market standards so that all segments of society can benefit from financial information services. Therefore, county government departments should give full play to the poverty reduction role of inclusive finance, increase investment in education, optimize industrial structure, promote economic growth, reasonably allocate fiscal expenditure, optimize financial infrastructure construction in rural areas, alleviate relative poverty and interrupt return to poverty, fully implement rural revitalization, and thus achieve the great rejuvenation of the Chinese nation.