Why the focus of rural finance is farmers

On July 2, the "Internet Finance and SME Investment and Financing Summit Forum," jointly hosted by the China Banking Association, the China Association of Small and Medium Enterprises, Xinhuanet and others, opened in Beijing. The forum held discussions on regulation and self-discipline in the internet finance sector, industry development trends and other topics, and Fang Dehua of Alibaba Research Institute delivered an excellent speech.

Fang Dehua said that after going through a period of very rapid growth, internet finance has now entered a stage of steady and healthy development. He noted that the "Thousand Counties and Ten Thousand Villages" plan currently launched by Alibaba is expected to invest 10 billion yuan over the next 5 years in 1000 counties and 10,000 villages worldwide, to develop rural internet and rural financial support services.

Fang Dehua said that supporting rural finance is not only about supporting agricultural products, supporting agriculture, and supporting production. Only by approaching the issue and doing finance from the perspective of "agriculture, rural areas and farmers" will the market be larger and efficiency higher. He believes that the focus of rural finance lies with farmers.