China issues guidelines to promote high-quality development of inclusive finance

BEIJING, Oct. 11 (Xinhua) — China’s State Council has released a guideline document specifying policies and measures to promote the high-quality development of inclusive finance over the next five years.

In five years, a high-quality inclusive financial system shall be basically established, according to the document, which expects progress to be made regarding the accessibility of basic financial services, the ease of obtaining financing, support for rural revitalization, education and protection of consumers, financial risk control as well as other supporting mechanisms.

Efforts shall be made to improve key inclusive financial products and services, boost financial service quality concerning people’s livelihood, as well as support the sustainable development of small and micro business entities, rural revitalization, and green and low-carbon development, according to the document.

It also called for advancing financial supply-side structural reform, forestalling financial risks in key areas, strengthening financial literacy and capability of the public, and improving financial consumer rights protection. ■