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    How to solve the imbalance between urban and rural financial management? Government bonds go to the countryside to help inclusive finance

    2019-02-11 07:09:59

    Shanghai Securities News

    Spring Festival, the special peak of cash withdrawal in the year, the sales season of the wealth management market. After spending a year of hard money, I went to the town bank to buy a "reliable" product, which has become a new part of the rural Spring Festival in recent years.

    In Liangping District and Lin Town, Chongqing City, the financial atmosphere here was hot as early as the week before the Spring Festival. A “national debt to the countryside to help rural revitalization” organized by Liang Ping Branch of the People’s Bank of China and Liang Ping Branch of Chongqing Rural Commercial Bank attracted many uncles and aunts who came to the market to stop.

    The security is high, the starting point is low, and the income is stable. The inclusive advantage of the national debt itself coincides with the financial needs of the rural customer group, making it the “darling” of the township wealth management market. Especially in the remote rural areas, it is even more difficult to find a debt.

    Urban and rural supply imbalance

    Li Yongwen, who is in his 60s, is a resident from the 5th group of Liangping District and Lin Town and Lin Village in Liangping City, Chongqing. He has been paying attention to national debt for some time.

    "Before I went to the county, I couldn't buy it. Now the national debt goes to the countryside, and I can buy it in the town!" His words made a lot of voices from the villagers.

    "The issuance quota of treasury bonds was first issued by the People's Bank of China and the Ministry of Finance to the head offices of various banks, and then sold by various bank outlets across the country, forming a first-come-first-served situation. The rural towns and villages in the west always robbed the developed cities in the central region. "A financial practitioner in Chongqing, Mr. Li told reporters.

    For example, bank outlets in some developed provinces and cities open earlier, and the per capita purchase of national debt can reach hundreds of thousands. The issue amount will be sold out in a short period of time.

    However, in the remote rural areas of the central and western regions, the online financial management model has not yet been popularized, and the qualifications for the sale of government bonds have not yet fully subsided to the township bank outlets. It is too late for rural residents to rush to the county bank outlets.

    Under the situation of imbalanced urban and rural sales of urban bonds, a large number of rural government bond purchases and wealth management needs cannot be met.

    Open the "last mile"

    In order to solve the contradiction between supply and demand of national debt in rural areas and meet the growing financial service needs of rural residents, many regions have made some explorations and attempts: bank outlets are difficult to sink to the fields, and they are replaced by mobile service vehicles, and they really get through the government bonds. "The last mile."

    In the interview, the reporter learned that in July last year, the Chongqing Business Administration Department of the People's Bank of China organized four banking financial institutions, a total of six mobile service vehicles, and went to Chengkou County and Wushan in Dabashan and Wuling Mountains. County, Pengshui County, Rongchang District, Jiangjin District, Banan District Township Village, go deep into the village dam, send national debt to the countryside.

    The treasury activities of these treasury bonds since the beginning of last year have stimulated the enthusiasm of Chongqing rural residents to purchase treasury bonds, and the number of treasury bonds issued hit a new high in the local history. Since last year, a total of 46,700 people in rural areas in Chongqing have purchased government bonds, a year-on-year increase of 29.36%; the total purchase amount is 1.662 billion yuan, a year-on-year increase of 33.25%, accounting for 31.8% of the total issued in Chongqing; and the direct increase of interest for Chongqing farmers is 264 million yuan.

    Why is national debt popular?

    How much is the national debt in the county, townships and towns? The reporter came to the Zhuqiao Sub-branch of Shanghai Rural Commercial Bank, and the National Debt Propaganda Manual was placed at the door of the business hall all the year round. Even in the suburbs of this coastal city where the wealth management products are relatively abundant, on the day of the sale of the national debt, the long queue of business halls was queued early.

    Xiaotang, the account manager of the bank, told the reporter: "We have a relatively fixed group of treasury customers. In the first few days of each month, customers will take the initiative to ask, when will this national debt be sold? This time is electronic or vouchers. On the day of the sale, it was sold out in less than an hour."

    Yuan Aunt, who lives in Zhuqiao Town, is a loyal customer of national debt. She told reporters that one-third of her money is invested in government bonds, and every time the government bonds are released, they will buy them.

    "Customers are highly loyal to national debt, and there is not much demand for deadlines. In the three-year or five-year period, as long as there is a quota for which period, they will buy which." Xiao Tang said.

    The reporter learned that residents in rural areas are often low-risk preference customers, and many characteristics of national debt just fit their needs. First, it is highly secure. The credit rating of treasury bonds is higher than that of bank wealth management products and other bonds; second, the income is stable and not low. Last year, for example, the five-year government bond interest rate was 4.27%, basically outperforming the bank's deposit receipt price for the same period; third, the issue period was much higher, and the purchase starting point was low. The time for the issuance of government bonds is usually from March to November every year. The starting point for the purchase of savings bonds is only 100 yuan, which is much lower than the threshold for the sale of most wealth management products. The fourth is flexible and easy to cash. If you need money urgently during the investment period, you can use the national debt to pledge the loan, or redeem it in advance.

    Especially in the bank financial management market to break the tone of the transformation of the net worth and net worth, the wealth management products began to gradually transition to non-guaranteed and floating income. The advantages of national debt security and stable income have become more and more obvious, attracting the attention of some low-risk investors who are pursuing stable asset preservation.

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    Editor in charge: Li Limeng RF13188

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