How can the financial bloodline of poverty alleviation and development be further unclogged?

To promote poverty alleviation and development and help the rural population escape poverty, the active participation of financial institutions is indispensable. Only by further unclogging the financial bloodline and giving play to its important role in capital circulation and market resource allocation can poverty alleviation and development be made targeted and effective. This requires finding the driving force that promotes the circulation of the "blood," identifying the direction in which the "blood" flows through the vessels, and harnessing the combined strength of finance to achieve complementary advantages.

Poverty alleviation and development work has long received widespread attention. Recently, some media reports said that through more than 30 years of poverty alleviation efforts, China's rural poverty has been greatly reduced. The poorest places are precisely the poverty strongholds with the weakest foundations, the harshest conditions and the most daunting tasks. Phenomena such as rural classrooms that serve as both classrooms and dormitories, and eating meat only 3 times a year, stand in stark contrast to modern urban civilized life, all of which show that the task of poverty alleviation is arduous and far-reaching.

According to data from the National Bureau of Statistics, there are still 7017 million poor people in rural areas across the country, accounting for about 7.2% of rural residents. To ensure that the poor population is lifted out of poverty on schedule by 2020, the situation is urgent and the task is daunting. To promote poverty alleviation and development and help the rural population escape poverty, the active participation of financial institutions is indispensable. As the "13th Five-Year Plan" battle against poverty "enters the countdown," only by further unclogging the financial bloodline and giving play to its important role in capital circulation and market resource allocation can poverty alleviation and development be made targeted and effective.

To unclog the financial bloodline of poverty alleviation and development, it is necessary to find the driving force that promotes the circulation of the "blood." As is well known, good poverty alleviation industrial projects can drive economic development in rural areas and help farmers escape poverty and become prosperous. However, affected by historical factors and constrained by resource endowments, poor areas often lack feasible poverty alleviation industrial projects. But being temporarily behind does not mean there is no development prospect. The western region has many late-mover advantages. From the big data industry to rural tourism, from the "Belt and Road" initiative to the implementation of measures such as "development and opening-up of border areas," poor areas are ushering in multiple development opportunities. As an important force supporting local economic development, financial institutions should combine local economic development strategies and poverty alleviation plans, act as the vanguard of a new round of poverty alleviation and development, turn their own business networks into powerful "fulcrums" for poverty alleviation and development, promote the accelerated flow of urban financial resource factors to rural areas, and build platforms for attracting investment in poor areas.

To unclog the financial bloodline of poverty alleviation and development, it is necessary to accurately identify the direction in which the "blood" flows through the vessels. At present, this direction is undoubtedly "agriculture, rural areas and farmers" and small and micro enterprises. Since last year, the state has continuously introduced multiple financial policies to guide capital flows to the fields of "agriculture, rural areas and farmers" and small and micro enterprises, and regulatory authorities have also actively provided convenience for financial "support for agriculture" and "support for small businesses." In poor areas, the development foundation of "agriculture, rural areas and farmers" and small and micro enterprises is relatively weak, and they yearn even more for financial "sweet rain." In this regard, agriculture-related financial institutions should actively practice the concept of inclusive finance and transform the various preferential financial policies formulated by the state into "financial living water" that drives the development of poor areas. Especially in the context of mass entrepreneurship and innovation, they should promptly formulate financial service plans that boost the development of small and micro enterprises in poor areas, entrepreneurship of returning migrant workers, entrepreneurship of college students, and entrepreneurship of women, highlight operability, and continuously cultivate new momentum for social and economic development in poor areas.

To unclog the financial bloodline of poverty alleviation and development, it is also necessary to harness the combined strength of finance and achieve complementary advantages. Financial institutions providing services in rural areas include not only large commercial banks, agricultural commercial banks and insurance companies, but also newly emerging village and township banks, microcredit companies and rapidly rising internet finance companies in recent years, as well as rural mutual fund cooperative organizations established on the basis of the local "society of acquaintances." Various financial institutions should rely on their own advantages to form cohesion and synergy for poverty alleviation in poor areas and jointly explore industrial poverty alleviation projects. Among them, the exploration of the PPP model in the fields of rural infrastructure and public utilities also provides a new stage for finance to participate in poverty alleviation and development. In short, financial poverty alleviation is by no means a "one-man show." Facing the differentiated and diverse financial needs of various entities in poor areas, financial institutions can thoroughly unclog the financial bloodline of poverty alleviation and development only by harnessing combined strength and complementing each other's advantages.