易纲最新演讲：发展普惠金融应坚持商业可持续原则

Core Viewpoint - The development of inclusive finance in China should adhere to the principle of commercial sustainability, focusing on providing affordable financial services to various social groups while ensuring the market's role in resource allocation [4][6]. Group 1: Chinese Practice of Inclusive Finance - Inclusive finance aims to provide appropriate and effective financial services to all social strata at affordable costs, with a focus on daily financial services for the public and support for agriculture, small enterprises, and individual businesses [4]. - Historical practices of inclusive finance in China date back to the 1930s, with significant developments in rural credit systems and small loan initiatives in the 1990s, culminating in the recognition of inclusive finance as a national strategy in 2013 [5]. Group 2: Commercial Sustainability as a Basic Principle - The essence of inclusive finance is to effectively utilize market mechanisms for resource allocation, emphasizing the role of financial institutions as market players [6]. - Financial institutions are encouraged to adopt a "cost-covering, low-profit, high-volume" model to ensure the sustainability of inclusive finance while meeting the basic financial needs of low-income clients [6]. Group 3: Government Support Policies - Government support is crucial for the development of inclusive finance, with policies aimed at directing financial resources to those in need through mechanisms like fiscal subsidies and policy financing guarantees [7]. - The effectiveness of government support hinges on balancing the intensity of assistance while preventing moral hazards, ensuring that market mechanisms continue to play a fundamental role in resource allocation [7][9]. Group 4: Case Study of Policy Implementation - During the COVID-19 pandemic, the People's Bank of China introduced tools to support small and micro enterprises, providing incentives for banks to extend loan repayments and offering preferential interest rates for new loans [8]. - These measures resulted in significant financial mobilization, with incentives leading to the extension of loans worth 2.2 trillion yuan and the issuance of new credit loans exceeding 10 trillion yuan [8].