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Family Inclusive Finance in China: Measurement, Comparison and Impact (No.31, 2019)


By Yan Yan, Yin Zhichao, Zhang Shiguo, Peng Changyan, Yue Pengpeng, Pan Beixiao & Wu Yu, Institute of Economics, Management World Magazine

Research Report, No.31, 2019 (Total 5531) 2019-3-13

Abstract: This paper comes up with a comprehensive inclusive financial index system, synthesizes a family inclusive financial index based on the survey data of China’s family inclusive finance, and further reveals the development level of China’s family inclusive finance. In 2017, the total index of family inclusive finance in China averaged 0.575, and the overall development of family inclusive finance stood at the upper-middle level. Viewing from the perspective of demand side, social health care and pension insurance have achieved remarkable results and bank accounts and digital financial services still have much room for promotion whereas family formal credit market participation is low, and the quality of financial services has a long way to go. From the perspective of supply side, the coverage of community financial infrastructure is at a medium level, and more attention needs to be paid to improving the accessibility of financial services. With regard to farmers, poor families, low-income families, elderly families and sandwich-layer families, the level of inclusive finance is significantly low. International comparison study results show that China’s inclusive financial development is ahead of BRICS countries, but lags far behind the developed countries in Europe and the United States.

Key words: inclusive finance, international comparative index, impact