China Needs More Specialised Banks for Small Enterprise, Establishment of National Financial Inclusion Platform: Postal Savings Bank of China

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A senior executive from one of China’s big state-owned lenders has called for a more diversified banking system to better cater to the financing needs of micro-and-small enterprises, as well as the launch of a nation-wide financial inclusion platform.

“During the process of driving high-quality development, (China) needs even more specialised banks,” said Du Chunye (杜春野), vice-president of the Postal Savings Bank of China (PSBC) and head of its Beijing branch, on 18 June at a forum on micro-and-small financial services held in Beijing.

Du also called for the nationwide application of mechanisms established in Beijing to expedite financial inclusion.

“Servicing micro-and-small (businesses) requires mtuliple parties to work together,” said Du. “Beijing [should] exercising its leadership role as the government when it comes to establishing trust, drive the establishment and improvement of information sharing platforms, and provide them to banking sector financial institutions for usage.”

Du called in particular for the nationwide implementation of Beijing’s own specialised financial inclusion platform.

“The Beijing Loan Services Centre (北京市贷款服务中心) has now gathered together various types of financial institutions to become a ‘supermarket’ providing a raft of services to micro-and-small enterprises.

“If it can be upgraded to become a nationwide platform, and a general MSE financial services platform, it would play an excellent role in resolving problems for micro-and-small financial services.”

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