Source: People's Daily Original manuscript
"If the nation wants to be rejuvenated, the countryside must be rejuvenated."
Finance is a source of vitality for comprehensively promoting rural revitalization based on the new development stage. The 24th meeting of the Central Committee for Comprehensively Deepening Reform held this year reviewed and passed the "Implementation Opinions on Promoting the High-Quality Development of Inclusive Finance", which emphasized that "we must accelerate the filling of financial services such as new agricultural operators and orderly promote the development of digital inclusive finance ."
How can digital inclusive finance "general" into rural areas, "benefit" and farmers, and become an endogenous driving force for promoting rural revitalization? Recently, the People's Daily "Dialogue with Entrepreneurs" column followed the "cross the mountains and seas and pursue dreams of the future" science and technology innovation research team interviewed Jin Xiaolong, Party Secretary and Chairman of Online Commercial Bank , and shared and exchanged topics such as how rural finance serves rural revitalization and how Internet banks innovate and seek change.
has always been a difficult point in rural financial services for small scale, large fluctuations, lack of mortgage and lack of credit. Jin Xiaolong believes that entering the digital age, the power of technology has provided an effective path to solving the difficult problems of rural financial services. In terms of credit judgment, interaction cost, interaction convenience, etc., Internet banks and traditional banks have very different operating methods.
"First, through the mobile Internet, banks and customers can exchange data and needs more conveniently; second, using technology means to accurately judge customers' credibility through online; third, based on the Internet, we also avoid face-to-face with customers, so the operating cost will be greatly reduced." In Jin Xiaolong's view, technology has narrowed the distance between banks and farmers, allowing finance to sink to the countryside through the Internet, and better serve rural revitalization.
Whether it is due to the need for financial institutions' own risk control or the poverty alleviation purpose of "not raising lazy people or not accustomed to evil people", a key point of rural finance lies in how to "precise portraits" for farmers. As rural areas and agriculture move towards digital development, digital finance also has the soil and space for thriving in the vast fields, and financial institutions are solving this problem through technological power.
Using data as a medium, Ant Commercial Bank forms credit assets for rural transactions, logistics, payments and other information, and cooperates with county governments to share data that farmers can disclose, such as rural land rights confirmation , planting conditions, agricultural subsidies and other data, and uses digital technology to establish an exclusive digital risk control model for county farmers, so that rural users can have more accurate digital portraits and higher digital credit limits.
is not only helping invisible big data, but satellites are also exerting their "visible" power. "We use the satellite remote sensing technology to use the satellites in the sky to see the land planted by each of our farmers more clearly, and we can restore the staple food crops and cash crops they grow. At present, our accuracy reaches 93%, which means that we can distinguish basically all staple food crops, including some major cash crops, such as apples and citrus." Jin Xiaolong introduced that based on satellite information, government public data, and data uploaded by farmers on their mobile phones, millions of customers have obtained loan support from rural finance.
In Neixiang County, Henan Province, through the digital inclusive finance pilot cooperation with Ant Commercial Bank, over the past four years, a total of hundreds of thousands of farmers have obtained financial credit and the actual amount of digital loans has been obtained by nearly 7 billion yuan. As of the end of 2021, more than 1,000 agricultural counties and districts across the country have successively cooperated with Ant Commercial Banks, accounting for nearly half of the total number in the country. Data shows that the growth rate of digital loans in counties that cooperate with Ant Commercial Bank in the past year was 39% higher than the average growth rate of counties.
With the achievement of the expectation of controllable costs and risks, the digital inclusive financial model is rapidly being promoted nationwide. The "China County Digital Inclusive Finance Development Index Report 2021" released by the Institute of Rural Development of the Chinese Academy of Social Sciences shows that the development of county digital inclusive finance across the country has shown a rapid upward trend in the past four years. Among them, county-level digital loans and digital credit developments were the most significant, with the score of digital credit services in 2020 increasing by more than 8 times compared with 2017.
As an Internet bank, the Ant Commercial Bank has provided digital credit services to more than 49 million small and micro operators in the seven years since its establishment, of which more than half are county users, and 80% have never obtained bank operating loans in the past.
In Jin Xiaolong's view, online financial services based on the Internet are exploration and practices in response to the call for rural revitalization. The whole society has formed a good and open development environment at the technical levels of mobile Internet, cloud computing, , big data, etc.
"An online merchant bank has no outlets, but we have a vision: to turn every mobile phone into a bank outlet, so that bank outlets are no longer a solidified concept, but are in the hands of every farmer friend in real time." He said.
