Rural financial services in agriculture problems a

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Rural financial services in agriculture problems and countermeasures in

Paper (paper title) Keywords: rural financial ; financial services; new institutional economics Abstract: As our long-term impact of the dual economic structure , resulting in poorly designed rural financial system, the role of rural financial institutions supporting agriculture severely weakened, leading to long-term rural economic development funding bottlenecks exist. The overall aim must be to re-rural financial institutions, government functions and strategic positioning adjustments, the implementation of a comprehensive rural financial system reform. New Institutional Economics From the Perspective of proposed financial support for rural economic development in rural areas of specific measures. Serious in rural areas because of the phenomenon of financial repression, leading to the rural financial system is not perfect, lack of funds for economic development in rural areas, severely restricted the development of rural economy. We must deepen the rural financial system reform, improve the rural financial service system, optimizing allocation of financial resources in rural areas, strengthen rural financial services, to increase the building a moderately prosperous society of great practical significance. First, the theoretical analysis of the rural financial system system is to establish the relationship between economic entities of conduct is also true of rural finance system, which is the farmers, the rural grass-roots government, central within the Government and people of rural financial institutions and other financial resources to rural areas all defined, use, disposal and a series of benefits and the right to reach a set of formal and implicit contracts. In the current economic and financial system structure, arrangement, formal or implied contract this group makes the interaction of various stakeholders is difficult to export the high efficiency of rural financial institutional arrangements. Economic development is the prerequisite and basis for financial development, and financial development is the driving force of economic development and the means, they are mutual restraint, mutually reinforcing relationship. Accordingly, in 1973, U.S. economist Ronald McKinnon and Edward Xiaoti out of the well-known theory of financial restraint. The so-called financial repression means that the Government through the financial system, financial activities and inhibit the excessive administrative intervention in the development of the financial system, but lags behind the development of the financial system has hindered economic development, resulting in financial repression and economic backwardness of the vicious circle. As the world's largest developing country, China's vast rural market and the degree of modernization is very low, there is a serious phenomenon of financial repression. Current rural financial repression in two ways: first, the structural imbalance in the supply of rural finance. First, the layout of the inhibition of rural financial institutions. As the demand for capital scattered peasant economy, as well as small-high risk inherent in modern financial institutions and funds to pursue large scale and security of sharp contradictions between, resulting in the merging of the rural financial network and financial services contraction, showing a significant inhibition of institutional layout of the characteristics of rural financial institutions can not effectively provide financial services to vast rural areas. Secondly, inhibition of the rural financial and credit issued. Rural formal financial institutions to guard against financial risks, the power of approval on the loan closing, resulting in the following outlets county line to attract deposits into a higher level Again, inhibition of rural financial services. With the development of rural farmers and the market of farmers has increased, the financial services also produced a variety of needs, but lagged behind in rural financial institutions, lack of innovation, making the obvious contradiction between rural financial services. The second is less than the total supply of rural finance. First, the rural formal financial institutions driven by profit, credit funds to a number of profitable trades and industrial transfer, leading to a large number of rural funds transfer. Second, the strategic adjustment of state-owned commercial banks, operating in the county the size of credit institutions and a corresponding decline; Some financial institutions did not exist even in the rural areas only loans, crowding and loss of a large number of rural funding. Second, the present rural financial services institutions in agriculture the main problems (a) Supporting the role of formal financial institutions in rural areas Agricultural Development Bank is the weakening of policy banks, The goal is to support the progress of agricultural development and agricultural technology to ensure that state and implementation of agricultural acquisitions and reflects the policy of the State's agricultural industry. However, in practice, weakening its support for agriculture functions, has evolved to specialize in cotton and oil acquisition of bank loans and did not give full play to the role of policy banks should be, and its function orientation also had deviated from. Agricultural Bank is the industrial and commercial enterprises as the main target of the state-owned commercial banks; with the commercial speed of reform, the Agricultural Bank has been completely transformed into commercial banks to support agriculture from the shift to support an industrial and commercial, driven by commercial interests, the proportion of agriculture-related loans decreased, the current proportion of their agricultural loans has been reduced to about 10% of the rural financial system in the leading position in the increasingly weakened. Although the Agricultural Bank of China have established in most parts of the county offices, but because of its strict lending authority control, generally only keep more loans are not loans or deposits less, resulting in more acute contradiction between supply and demand in rural areas. Mainly located in rural credit services for farmers, but the long form of the ills such as property rights are not clear, the absence of owners; historical burden is too heavy, poor-quality assets, operational difficulties, the potential significant business risks; corporate governance structure imperfect. Although the reforms were gradual, but essentially remain in the internal organization structure and industry management system level, there is no substantial breakthrough in the system. Its role in the process in agriculture has been seriously weakened. Although China Postal Savings Bank was established, but . (B) highlighted the role of rural informal financial institutions, non-formal financial institutions is private financial organizations, including pawn broking, private banks, private fund raising, lending and other civil liberties financial activities of rural folk. As a serious shortage of rural formal financial supply, various forms of financial activities in rural areas very active civil society, has become the main channel for rural lending. IFAD study reported that Chinese farmers from the informal financial market borrowing from formal financial institutions about four times the loan amount. For farmers to meet the financial needs of the reality, the importance of the informal financial market has greatly exceeded the formal financial market. Rural financial system that many problems exist, the rural financial system should be reformed, we must proceed from the overall re-agricultural banks, agricultural development banks, postal savings banks and rural credit cooperatives to re-positioning and adjustment of the function and formation of new rural financial institutions, the implementation of a comprehensive rural financial reform, better, more dynamic real as the Third, deepen the rural financial system reform, establish a modern rural financial system (a) efforts to increase policy-oriented financial support for agriculture establish a modern rural financial system, we must study how to Agricultural Development Bank good policy to play the role of financial support for agriculture, enhancing rural infrastructure support. As of October 2008, China Agricultural Development Bank of the loan balance was only 1.0224 trillion yuan, accounting for only the total balance of loans from financial institutions 3.9% of 26.17 trillion yuan, which supported the construction of agricultural infrastructure loans was only 44.6 billion yuan, accounting for agriculture Development Bank, 4.4% of total loans. State must support its implementation of policy, the implementation of active support and protection policies. (B) The state-owned and joint-stock commercial banks play the role of agriculture establish a modern rural financial system, should give full play to the Agricultural Bank as the Currently, the Agricultural Bank of county and below county level in China has more than 28,000 business outlets, with support for the At the same time, establish a modern rural financial system, should give full play to the postal savings bank services Postal Savings Bank has over 36,000 outlets, with integrated electronic network, financial strength, outstanding deposits of nearly 16,000 yuan. View of the benefits or reduce the commercial banks and a large number of diversion of funds in rural areas the situation, it is recommended to consider the practice from abroad, specifically in urban and rural branches of the Bank's ratio of funds, or to require commercial banks to deposit a certain percentage of growth for the purchase of agricultural policy financial bonds . (C) deepen the reform of rural credit cooperatives, the main force to play its role in supporting agriculture establish a modern rural financial system, the original rural credit cooperatives reform must continue to implement the State Council Social Reform of the notice of (D) innovation and development for the rural characteristics and needs of the new micro-finance institutions and microfinance effective allocation of financial resources in order to guide the flow of capital in rural and underdeveloped areas, improve financial services in rural areas, Document No. of recent years have raised the central should be encouraged to set up a variety of ownership in the county's community financial institutions, micro-credit organizations to cultivate and guide the development of capital mutual aid organizations, farmers, and effectively improve the rural financial services. (E) actively guide the healthy development of rural financial organizations, civil society, and strive to foster diversification of the rural financial to break the main bottleneck in the supply of rural finance, rural finance supply to lift depression, we must introduce a competitive mechanism, relaxing countryside financial market access threshold in rural financial markets and the gradual elimination of barriers to entry, the appropriate development of private finance, to further expand the total supply of rural finance. Demand for private finance is the result of induced institutional change, it eliminates the farmers to the formal financial sector lending and borrowing of asymmetric information barriers to the shackles, should be given their legal status. Private key to financial reform is to establish a market mechanism for the quasi-human, not cf the city set up a commercial bank standards should be based on the actual situation, according to local conditions to develop access standards, and be strictly enforced. The same time, from the sound legal, institutional, policy staff, guide and encourage the private micro-credit banks, cooperative banks, private banks and other forms of private financial health of rural development, and to legitimize, open and standardized and incorporated into the regulated financial system in rural areas to increase the supply of rural financial services to meet the At the same time, but also actively encourage the city through various bank financial network extending to rural areas, to encourage foreign banks to conduct financial services in rural areas, so that the progressive realization of the main diversification of rural finance to meet the (F) give full play to the role of government to increase support and improve rural financial policies Pratt & Whitney, security mechanism in the current changes in China's rural financial system, the Government can and must play its important and irreplaceable role. To make comprehensive use of fiscal and monetary policy tools leverage, tax breaks and cost oriented subsidies, various types of rural financial institutions to guide the extension and development of rural financial services, such as a higher proportion of agriculture-related loans to rural financial institutions to develop more favorable Reserve policy and interest rate policy more flexible; guide agriculture-related departments and financial , social security funds deposited in the rural credit cooperatives, major grain producing areas to increase the amount of agriculture loans again and extend the loan period etc.; reduced until the lifting of sales tax levied on rural credit cooperatives; give full play to the role of public finance in rural areas, the implementation of agricultural loans, interest subsidy, the risk of loss compensation. Party's Third Plenary Session of the need to explore the establishment of clearly stated policy of agricultural Insurance system. Six consecutive years since 2004 One documents the central policies of the development of agricultural insurance put forward specific demands. In recent years the central and local levels of government support for agricultural insurance continued to increase and promote various forms of agricultural insurance system. Gradually expand the field of agricultural insurance, insurance has reached 160, but the coverage of agricultural insurance is not strong, the absence of agricultural insurance law, agricultural risk management mechanism is not sound, coupled with global climate change and the deterioration of ecological environment, China agricultural natural disasters increase in frequency and intensity show trends, the destructive power of disasters and growing economic losses. Therefore, as soon as possible the establishment of agricultural catastrophe reinsurance and risk spreading mechanism is extremely urgent and necessary. The same time, to build government support, multi-party participation and market operation of rural credit guarantee mechanism. In recent years, in various forms all over the country carried out the exploration of rural credit guarantee, such as government-funded, government operations; government-funded or equity, market-oriented operation; for profit commercial guarantees, but there are many more forms of collateral constraints factors, such as small size, low capital, low risk to resolve, and compensation capacity, weak supervision and management, development of insurance services in rural areas to establish a sound system is still long way to go. Should be noted that financial problems in rural areas is about We should build a new socialist countryside and comprehensive attention to achieve well-off society in rural finance, rural finance development of expanding space, improve and improve the rural financial services,[link widoczny dla zalogowanych], and guard against and defuse financial risks in rural areas, promoting the sound operation of rural financial services .

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