Gu Shu: To promote rural revitalization, financial institutions can make efforts in these areas
June 15,2021

  On June 11, the sessionon “Finance Helps Create‘A Better Life’: Consumption, Healthcare, Elderly Careand Education”of the 13th Lujiazui Forum (2021) was held in Shanghai. Gu Shu, Chairman of the Agricultural Bank of China, attended and addressedthe session.

  “It is of utmost importance to address the shortcomings concerning people’s livelihood in rural areas. Now China has more than 500 million people permanent rural residents, and 280 million migrant workers commuting between the countryside and the city all year round. Building a better rural life to enableallfarmers to benefit from development is not only a requirement for the implementation of the new development concepts, but also the pressingneedsof the people.Financial institutions should play their role in this regard,”Gu Shu said. Taking into account the actual situation of Agricultural Bank of China, Gu believes that in the process of promoting rural revitalization across-the-board, financial institutions could make efforts in these following areas:

  Firstly, to support the revitalization of rural industries to make farmers more affluent;

  Secondly, to support consumption upgradein the countryside, so that farmers can enjoy a better quality of life;

  Thirdly, to help address the shortcomings of public services in the countryside, so that farmers' lives can be better protected;and

  Fourthly, to vigorously develop digital inclusive finance to make rural financial services more convenient.