Abstract
The feasibility of additional funding for rural development is dictated by the sustainability of the local monetary sector. There are currently some concerns in outer regional capacity, such as financial institutions’ reluctance to lend due to urban asset restrictions, capital outflow due to inadequate collective economy size, and issues such as restricted economic development. To complete the construction of an innovative rural financial system, this paper begins by improving the regulatory precedent of the financial system, raising the input of financial goods, enhancing the rural financial credit climate, and defining the rural financial system’s orientation, with the goal of providing feasible suggestions for rural financial system innovation.
Highlights
The feasibility of additional funding for rural development is dictated by the sustainability of the local monetary sector
While numerous scholars have confirmed the link between rural finance and rural economic development, they have suggested some ideas for financial system innovation
The root cause of this phenomenon lies in the insufficient scale of the rural collective economy, the lack of investment projects that can be borrowed on a large scale, and the fact that rural financial institutions have not specified the investment targets for the operation of bank funds, as a result, idle funds of farmers are used in the city construction of the capital outflow phenomenon
Summary
In view of the current “three rural problems, “the rural revitalisation strategy is an important exploration for its state to plan possible capacity building planning. China is nearing the pletion of its shift via a typical natural economy to an advanced agriculture industry. The rapid growth of the new local economy collective. 2016-2019 China economic net total agricultural output data. The growth of the rural financial system should focus on meeting the financial needs of conventional farmers, and on promoting the development of new rural economic actors. The key to rural financial system reform is finding out how to meet the borrowing needs of the two main agricultural operators through system innovation, as well as how to ensure the sound growth of agricultural financial institutions while achieving the target of funding the revival of country places
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