A Literature Review of Studies on Financial Exclusion in Rural China

Abstract

Financial exclusion is regarded as one of the hotspots and difficulties in recent years, of which the aggravation will aggravate the gap between urban and rural areas, hinder the promotion of inclusive finance, increase the resistance to the implementation of rural revitalization strategy, and even affect the development of agricultural economy in China. Since 2019, in the face of complicated international situation and continuous domestic epidemic situation, it has played an important role in providing basis and reference for China to promote inclusive finance and rural revitalization strategy through carrying out in-depth research on financial exclusion and improving the research system of financial exclusion under the new economic situation. Therefore, this paper combs the relevant literature from the regional level, county and township level and farmers level, summarizes the common contents of policy recommendations and puts forward new research direction suggestions.

The Impact of Digital Inclusive Finance on Rural Revitalization

“…Qin et al (2023) defined the grass-roots structure of Chinese rural society as a "different order pattern," and the interpersonal relationship in rural areas is mainly determined by blood relationships and social communication rather than law and morality. As a modern economic system subject to legal and moral constraints, digital inclusive finance can reduce the closure of the endogenous order in rural China in an exogenously embedded way, improve rural residents' awareness in the financial and legal fields, and enhance rural residents' awareness of integrity, and improving their ability to understand and abide by the law will ultimately achieve the goal of improving the rural financial order (Xia et al, 2023). On the other hand, digital inclusive finance can improve the education investment level of residents and ultimately improve the quality and cognitive ability of rural residents (Wang et al, 2023).…”