Shanghai Bank Chairman Jin Yu: The development of finance should enable different groups in society to benefit widely. | Finance | Jin Yu
On June 8, Jin Yu, chairman of the Bank of Shanghai, said at the 14th Lujiazui forum that the development of finance should benefit all groups in the whole society, so as to reflect the people's nature of finance.
Jin Yu stated that the essence of common prosperity lies in the word "common", and development is shared by all people. In recent years, the coverage of inclusive finance in China has continued to expand. According to World Bank data, China's account ownership rate, savings and credit participation rate, digital payment utilization rate and other inclusive finance indicators have exceeded the average level of high-income countries in the world. But from an inclusive perspective, many weak links can also be seen. Taking credit system construction as an example, the coverage rate of establishing credit files among individual industrial and commercial households is only about 12%. This example illustrates that inclusive finance still needs to be continuously promoted. Jin Yu believes that the key to common prosperity lies in solving the problem of "imbalanced and insufficient development", which requires financial work to focus on weak links, such as poverty-stricken areas, small and micro enterprises, and the elderly population, and strive to improve the accessibility of financial services, enhance the sense of gain and satisfaction of the entire social group. In this process, it is necessary to improve the means and methods of financial services based on the real needs of the service recipients, and avoid the "wealth gap" in service quality caused by technological models. For example, the taxi hailing app that everyone is very familiar with will feel very convenient when used, but it will have a crowding out effect on some groups who are not familiar with or are not proficient in using smartphones. From the perspective of inclusive concept, we need to study how to adjust the service methods of this group.
Jin Yu stated that inclusive finance should better contribute to common prosperity. The current inclusive finance work has new characteristics: firstly, the technological revolution is accelerating its development, and applications such as digital economy and artificial intelligence are profoundly changing society and also changing everyone's way of life. Meanwhile, in this process, more and more small and medium-sized enterprises have become important participants in science and technology innovation, green and other fields. Secondly, the population structure is undergoing significant changes, with a large number of rural residents entering cities and 300 million new citizens emerging; At the same time, China has entered a stage of aging, with a population of approximately 270 million people aged 60 and above, accounting for 19%. The combined proportion of new citizens and elderly people in the national population exceeds 30%. The target audience and demand for financial services are changing. At a new starting point, inclusive finance needs to further enhance its service level.
