普惠金融體系(pǔhuì jīnróng tǐxì):Inclusive financial system
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At the Fifth National Finance Work Conference held in Beijing on Friday and Saturday, President Xi Jinping stressed the significance of developing an inclusive financial system.
Establishing an inclusive financial system has been included in the last three government work reports, and it is also included as a government task in the 13th Five-Year Plan (2016-20).
At an executive meeting of the State Council on May 3, Premier Li Keqiang instructed all large commercial banks to set up inclusive finance departments before the end of the year. Now, less than two months later, five State-owned banks, including Industrial and Commercial Bank of China, China Construction Bank and Bank of China, offer inclusive financial services.
An inclusive financial system that provides appropriate and efficient financial services at an affordable cost to people of all walks of life, as well as small and micro enterprises, was first advanced by the United Nations in 2005.
It is expected that inclusive finance will better serve China's real economy, as well as its poverty alleviation work.
