The State Council released a circular on Oct 11 to further facilitate the high-quality development of inclusive finance, and enhance its capacity to serve the real economy.

The circular said that more efforts should be made in 12 aspects, including easier access to basic financial services, more convenience in financing for business entities, stronger financial support for rural revitalization, improved mechanisms to educate and protect consumers, enhanced capacity to prevent and defuse financial risks, and optimized supporting mechanisms.

It proposed 38 measures to achieve the targets, including improving high-quality inclusive insurance systems, promoting the orderly development of digital inclusive finance, cracking down on illegal financial activities, launching various activities to popularize financial knowledge, and advancing the rule of law involving inclusive finance.

According to the document, financial institutions are encouraged to introduce products and services that are in line with businesses operated by small and micro enterprises and self-employed individuals, to meet their needs for development.

The circular also stressed intensifying efforts to facilitate financial payment methods in rural areas and build a social credit-based environment.