Chinese Central Bank Launches Financial Inclusion Reform Pilot Zones in Shaanxi, Zhejiang and Sichuan

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The People’s Bank of China (PBOC) has issued plans for the launch of pilot zones for financial inclusion reforms in three of the country’s largest provinces

On 28 September, PBOC announced that it had sent a trio of plans for financial inclusion reforms to cities in three Chinese provinces, including:

  • The Shaanxi Province Tongchuan Municipality Financial Inclusion Reform Pilot Zone Plan (陕西省铜川市普惠金融改革试验区总体方案).
  • The Zhejiang Province Lishui Municipality Financial Inclusion Pilot Zone Plan for Servicing Rural Village Revitalisation (浙江省丽水市普惠金融服务乡村振兴改革试验区总体方案).
  • The Sichuan Province Chengdu Municipality Financial Inclusion Pilot Zone Plan for Servicing Rural Village Revitalisation (四川省成都市普惠金融服务乡村振兴改革试验区总体方案).

“The plans for the three localities uphold the development concepts of innovation, coordination, greenness, openness and sharing,” said PBOC in an official statement. “[They] fully employ the decisive role of the market in resource allocation, and better employ the role of government.

“The undertaking of financial inclusion reform trials in the three localities is of assistance to exploring effective paths for financial inclusion to service rural village revitalisation, and further accumulating experiences for the nationwide growth of financial inclusion that can be replicated and spread.”