Financial Year Conference "Yixin" Wang Wei: Financial Technology Promotes Rural Inclusive Financial Model Innovation

On 30 and 31 July, the sixth Shanghai new financial year and the third Internet finance the Bund summit were officially opened in Shanghai.

Wang Wei, senior vice president, was invited to attend the theme forum of "new pattern of rural finance inclusive". He also worked with the former director of the central agriculture and Industry Office, Duan Yingbi, President of the China Poverty Alleviation foundation, Chen Jianbo, director of the Agricultural Bank of China, Ye Xingqing, Minister of rural economic research of the State Council Development Research Center, Wei Houkai, and other industry experts and scholars of the Institute of rural development, Chinese Academy of social sciences.

Wang Wei pointed out that since 2009, Yixin began to plough the vast rural areas of China. For three different groups of customers: poor farmers, small farmers and large agricultural households, there are different businesses such as "agricultural loan", "agricultural business loan" and "financial leasing".

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In view of the poor farmers, especially women, the Yixin's public platform "appropriate agricultural loan" is linked to the local microfinance institutions in order to connect the funds of the city's love people with the needs of the poor farmers in the form of Internet.

"By lending one hundred yuan, her destiny changes because of you" slogan, although lending funds can only get 2% of the annual income, but so far, the total loan amount has been nearly 200 million yuan, 165729 people have already provided financial support for 19326 poor women.

Wang Wei pointed out.

For small agricultural customers, the "business credit" outlets for commercial credit consultation services, which should be credited with Pratt & Whitney, have been distributed in 64 county-level business departments, serving 37154 customers and resolving funds 1 billion 512 million.

Aiming at a certain large scale agricultural household, in 2013, Yixin Pu's financial leasing took the lead in the introduction of small and micro leasing businesses, such as agricultural machinery and so on, which solved the financing difficulties of large agricultural households. Up to now, the agricultural machinery leasing business has covered 22 provinces and has more than 300 partners.

In addition, in July 2015, Yixin leasing opened the first place in the country, providing a more suitable financial services for farmers with different customers and different needs.

Referring to the role of financial technology in rural inclusive financial business, Wang Wei focused on the rural mobile financial platform launched by Yi Xin Pu Hui.

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The "Hui Nong platform", using the big data of the agricultural industrial chain, the agricultural public funding and the rural mobile financial service stations and other innovative technologies based on the "rural mobile Internet", as well as hundreds of service outlets in the rural areas in the whole country, can provide convenient and one-stop financial services, including credit loan advisory services, agricultural insurance, rural financial management, agricultural machinery purchase, help agriculture and poverty alleviation, and other close to the needs of the three rural areas for hundreds of millions of Chinese farmers.

In addition, Wang Wei also pointed out that "the sustainability of rural business is also particularly important. In controlling costs, financial technology has also played an important role in promoting rural areas. On the one hand, it can improve the coverage of inclusive financial services in rural areas, and provide services for farmers in more areas. On the other hand, it also reduces the large number of costs caused by traffic inconvenience and achieves the sustainable development of business."