Abstract
Rural Internet finance has become an important support for the development of rural economy in China, and its business field and scope continue to expand. In the process of rapid development of rural Internet finance, it not only brings new opportunities for rural economic development, but also brings new challenges to rural economic stability. From the perspective of promoting the sustainable and healthy development of rural Internet finance, this paper analyzes the current situation and risks of China’s rural Internet finance innovation and development, and puts forward measures and Countermeasures to strengthen supervision and reduce risks.
Highlights
China is a big agricultural country, about 40% of the 1.4 billion people are farmers
Rural areas are the weak areas of China's financial services
The entities of rural economy such as rural credit cooperatives and other financial entities that provide financial services by means of business outlets can not meet the needs of rural economy scattered in the region and the vast area
Summary
China is a big agricultural country, about 40% of the 1.4 billion people are farmers. Rural areas are the weak areas of China's financial services. Rural financial reform has gradually entered the deep water area. The development mode of Internet plus rural finance has attracted widespread attention in the society due to its low cost, high efficiency and low threshold. The era of "same network and same speed" between rural and urban areas is coming. The Internet penetration rate in rural areas of China has reached 52.3% (see Figure 2). With the strong support of relevant national policies, the network poverty alleviation has achieved remarkable results, especially in 2020, affected by the epidemic situation, the rural Internet penetration rate has increased significantly, making a historic breakthrough. With the continuous promotion of "broadband China" strategy, more and more rural residents will enjoy the services brought by the Internet. The increasing popularity of Internet in rural areas will contribute to the scale development of rural Internet finance
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