Realization Path for Inclusive Finance to Support Rural Revitalization in Poverty-stricken Areas

Based on the quarterly economic, social and financial development data of 39 poverty-stricken counties in Henan Province during 2016-2018, this paper utilized the entropy-based TOPSIS method to objectively measure the rural revitalization index, and then built the quantile regression model to study the effects of various elements of inclusive finance on different stages of rural revitalization. Research results show that industrial development, agricultural modernization, targeted poverty alleviation, endogenous demand, and rural governance are the main points of inclusive finance in poverty-stricken areas to support rural revitalization; the rural revitalization index indicates that compared with the Dabie Mountain area and the non-contiguous poverty-stricken areas, the rural revitalization of the Qinba Mountain area is slower; for inclusive finance supporting rural revitalization, it is necessary to bring into play the role of monetary policy tools in re-lending, functions of credit in supporting industrial development, and role of insurance in risk protection; furthermore, inclusive finance solves problems such as the diminishing marginal effect of physical machinery investment in rural revitalization support, financial support for the coordinated development of small farmers and new agricultural business entities, financial support for the development of the entire industry chain, and the "siphon effect" of capital.