China among high-performing financial inclusion countries in Asia: report

Tourists appreciate the skyline view of Lujiazui area at the Bund in Shanghai, East China, on Jan 6, 2020. The "Asian Index of Financial Inclusion Ecosystem," unveiled on Thursday, is designed to evaluate the overall situation of the financial inclusion ecosystem of Asian sample countries, according to the BFA. Through continuous reform, China has built up a diversified and widely-covered financial inclusion institutional system, said Zhou Xiaochuan, BFA vice chairman and former governor of China's central bank. The BFA report highlighted practices such as China's efforts in developing financial inclusions from the aspects of national strategy, monetary credit supply, fiscal and tax policies, governance framework, and institutional capacity, as well as the experience of Mongolia and the Republic of Korea in promoting financial literacy, insurance awareness, and the protection of people. The report also put forward policy recommendations, including building a healthy digital financial inclusion ecosystem, and making good use of regional and global cooperation initiatives, such as the Belt and Road Initiative, to achieve common growth.