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The Experience, Dilemma, and Solutions of Sustainable Development of Inclusive Finance in Rural China: Based on the Perspective of Synergy

Author

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  • Taoyong Su

    (School of Economics and Management, Tongji University, Shanghai 200092, China)

  • Yuzhu Yu

    (School of Economics and Management, Tongji University, Shanghai 200092, China)

  • Yongheng Chen

    (School of Economics and Management, Tongji University, Shanghai 200092, China)

  • Jian Zhang

    (College of Architecture and Urban Planning, Tongji University, Shanghai 200092, China)

Abstract

Inclusive finance is an important development direction in the future of finance. The development of inclusive finance in China’s rural areas has provided valuable experience as well as exposing the various limitations of sustainable development. One of the key reasons for such limitations is the existence of cooperative resistance from multiple parties in the finance system. In this study, relevant data from the World Bank Inclusive Finance Database 2011–2017 and the CBRC Website were selected to analyze the current development level of inclusive finance in China in order to perform longitudinal time and horizontal international comparisons. The article summarizes the Chinese experience with inclusive finance and points out the dilemma of sustainable development. Then, based on the new perspective of synergy, the article breaks down financial institutions by type and provides an analysis of the cooperative resistance among the three major parties considering their behavioral motivations. Finally, we put forward the corresponding countermeasures to the dilemma of the sustainable development of inclusive finance in rural China by numerical simulations.

Suggested Citation

  • Taoyong Su & Yuzhu Yu & Yongheng Chen & Jian Zhang, 2019. "The Experience, Dilemma, and Solutions of Sustainable Development of Inclusive Finance in Rural China: Based on the Perspective of Synergy," Sustainability, MDPI, vol. 11(21), pages 1-18, October.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:21:p:5984-:d:281016
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    1. Rasul Gusmanov & Eugene Stovba & Alfiya Kuznetsova & Iskander Gusmanov & Timur Taipov & Gulnara Muhametshina & Liana Akhmetova, 2022. "Rural area sustainable development strategies on the basis of a cluster approach," Regional Science Policy & Practice, Wiley Blackwell, vol. 14(4), pages 778-795, August.
    2. Vitaliy Kovshov & Eugene Stovba & Milyausha Lukyanova & Zariya Zalilova & Guzalia Sitdikova, 2024. "Foresight and forecasting of socio-economic development of rural territories," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(11), pages 28219-28237, November.

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