Analysis Report on China's Inclusive Finance Indicators (2024-2025). pdf(CN)

Executive Summary
In 2024, China’s inclusive finance sector continued to advance, demonstrating growth in accessibility, utilization, and service quality. Financial institutions focused on supporting rural development, private and micro enterprises, priority social groups, digital payments, credit information systems, and inclusive capital markets. Key achievements include increased loan coverage in rural areas, expanded support for SMEs, broader availability of financial services for social priorities, and improvements in digital payment infrastructure and credit platforms.

1. Rural Finance and Development

Financial resources increasingly targeted rural areas. Agricultural operating loans and rural household consumer loans grew steadily, while loan coverage for low-income populations expanded. These developments indicate an improved allocation of financial resources to support rural economic activities and local livelihoods.

2. Credit Support for Private and Micro Enterprises

Private-sector lending continued to increase, with micro-enterprise loans maintaining growth while offering lower interest rates and higher quality. Financing for technology-oriented SMEs expanded rapidly, accompanied by improved loan approval rates. Local financial institutions implemented measures to strengthen lending capacity and standardize supply chain finance, enhancing sustainable access to credit for smaller businesses.

3. Financial Services for Key Social Groups

Policies for entrepreneurial guarantee loans and student loans were optimized. Bank branches improved accessibility for elderly and disabled customers, and financial products for social priorities became more diversified. These measures expanded the reach and relevance of financial services.

4. Payment Systems and Account Services

The number of bank settlement accounts continued to grow, with increased service efficiency. Digital RMB pilot programs extended to 26 districts across 17 provinces, with diverse application scenarios. The rise in digital payment volume demonstrates improved accessibility and convenience in payment channels.

5. Credit and Financing Support Mechanisms

A national credit information sharing platform for SMEs was launched, expanding coverage for enterprises and other organizations. Local credit platforms maintained rapid service growth. The unified registration system for movable asset financing facilitated broader business coverage. Government-backed financing guarantee programs also increased in scale, supporting SME financing needs.

6. Inclusive Capital Markets and Agricultural Finance

Pilot programs on the Beijing Stock Exchange and New Third Board advanced, enhancing capital market inclusiveness. Agricultural futures and options products became more diverse, and “insurance + futures” projects continued to grow, supporting risk management in the agricultural sector. Rural revitalization bonds and asset-backed securities maintained stable issuance and outstanding balances.

7. Inclusive Insurance Development

Agricultural insurance, particularly for key grain crops, was further optimized. Both insurance coverage and claim payout amounts increased, providing stronger financial protection to agricultural producers.

Conclusion
Overall, in 2024, China’s inclusive finance sector strengthened access, utilization, and quality of services across rural areas, SMEs, social priority groups, digital payments, credit platforms, and capital markets. The sector continues to evolve, with infrastructure, policy measures, and market mechanisms supporting broader financial inclusion and efficient allocation of resources.