Rural Finance

1. Research Report on Household Microeconomy Financing and Rural Revitalization(Completed)

The report emphasizes the “family” characteristics of the family micro-economy group and believes that its decision-making model of "taking the family as the basic unit" considers both economic and family life well-being goals and is in line with the development goal of financial inclusion. The report puts forward five policy recommendations: First, the development of family micro-economy group should be included in national strategy; Second, the policies of family micro-economy should be formulated differently from small and micro enterprises; Third, the development of family micro-economy as one of the important measures of Rural Revitalization; Four, construction micro family economy based on digital economy; Five, promote the development of family micro-economy with financial inclusion.

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2. Analysis of the development status of inclusive finance in rural China(Completed)

In the first half of 2016, CAFI conducted a questionnaire survey on the development status of rural financial inclusion in 13 counties in five provinces of Guangxi, Hebei, Gansu, Fujian and Jilin, and formed this report based on an in-depth analysis of the survey data. The report examines China's rural financial inclusion-related policies, rural credit, payment, insurance, and digitalization of financial services. The report believes there is a huge gap between the supply and demand of rural financial services, and digitalization can help solve the problems of high loan interest rates, strict conditions, and farmers' lack of financial knowledge.

3. Report on the Development of Digital Financial Inclusion in Rural China(Completed)

The report makes an in-depth discussion and analysis of the development foundation, current situation, traditional rural financial inclusion and digital rural financial inclusion, innovative practices of rural digital inclusive finance and other areas. Besides, a series of typical cases are analyzed.

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4. Digital Financial Inclusion's Effect on County-Level Industrial Development Project(Completed)

It was commissioned by the Secretariat of the Central Rural Work Leading Group (SCRWLG) in June 2019. CAFI conducted the project to investigate the supply-side structure of county-level financial inclusion, the relations between digital financial inclusion and the development of the county-level digital economy, and the integration of financial technology and industrial technologies. CAFI project team and experts from SCRWLG visited Quanjiao County and Jinzhai County in Anhui Province. They conducted interviews and surveys on local authorities, financial institutions, e-commerce platforms, and technology companies.

5. Digital financial inclusion and Rural Revitalization(Completed)

Rural Revitalization is a long-term strategy to promote the sustainable development of China's economy and society. This report believes that clarifying "who the Rural Revitalization Strategy serves" is the logical origin for implementing this strategy in the new era. First, The research team discusses the financial needs of the Micro and Vulnerable Group. Second, the advantages, roles and typical service models of digital financial inclusion are introduced. Finally, the writers show the current problems of rural development and policy recommendations.

6. CGAP Research project: CICO2digital—Transition from Cash-in Cash-out to Digital Payment  (Completed) 

In late September 2019, CAFI won the bidding for a study project, namely CICO2digital—Transition from Cash-in Cash-out to Digital Payment, provided by the Consultative Group to Assist the Poor (CGAP) at the World Bank Group. In the following half year, CAFI conducted interviews and questionnaire surveys with regulators, banks and other fnancial institutions of varied sizes to acquire insights into the situation and data of payment industry and studied the transition from legacy payment to digital payment methods in Chinese society and economy.

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7. Rural E-Commerce Value Chain Research Project (Completed) 
In June2019, CAFI acted as the project executor for CGAP's Analysis of Rural E-Commerce Value Chain research projects, partook in interviews and researches orchestrated by CGAP to the country's major e-commerce platforms including,, and Pinduoduo. The program is intended to inquire into the e-commerce value chain in China and investigate digital ecosystem's contributions, in economic and financial terms, in fostering the development of rural ecommerce and improvement of life of low-income rural residents. 

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8. Rural Microfinance Interest Rate Study (Completed) 

CAFI launched this project in late 2016 with an aim to examine the status quo of Rural Microfinance Interest Rate in China from multiple perspectives. It takes Xiapu County (Fujian Province), Chengde County (Hebei Province) and Jingtai County (Gansu Province) as case study and examines the cases from both supply and demand side. From the supply side, the study compares CFPA Microfinance with other rural financial institutions and analyzes their difference in interest rate composition and pricing. From the demand side, it analyzes farmers’ interest rate affordability, the cost of different financing channels and farmers’ subjective evaluation of the interest rate.

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