On December 18, CZB announced establishment of Inclusive Finance Department to set up an inclusive finance operation management system from the top to the bottom, putting business focus on downstream and release approval authority to better serve real economy.

As known, with regard to organizational structure, CZB has set up Inclusive Finance Development Committee and Inclusive Finance Management Committee respectively under the board and operation layer of headquarters to guide and promote implementation of inclusive finance activities within the organization. Inclusive Finance Department established this time will be responsible for promoting management and development of inclusive finance activities within the bank. In addition, more than a score of branch banks across China has set up their branches of Inclusive Finance Department. At sub-branch level, Inclusive Finance Business Department was set up specially for small-size enterprises. Based on existing organization and staffing, as well as professional operation pattern for small and micro business, a three-level inclusive finance operation management system was set up preliminarily to elevate professional operation capacity of small-/micro-sized financial institutions.

Ye Hajing, director of Inclusive Finance Department of CZB, stated that, after setup of the department, CZB will continue to hold the concepts of differential orientation, full-process management, accurate risk control and intensive operation, focus on problem of "unbalanced and inadequate" financial demand structure, make further exploration to small-and micro-sized enterprises, issues of agriculture, farmer and rural area, intelligent manufacturing, and green finance, continuously improve inclusive finance management mechanism, accelerate value transformation of emerging technologies, set up high-coverage, low-cost and multi-scenario digital inclusive finance operation system, achieve structured integration of social and commercial values, and to harvest fruits of real economy under support of financial service.

Shen Renkang, president of CZB, considered that, over years' development in inclusive finance field, CZB has established certain leading advantaged in the industry.  The setup of Inclusive Finance Department is a requirement for financial institution to serve real economy and improve financial service capacity. They will, based on existing experience, continue to explore CZB-specific inclusive finance pattern integrating supply and production, balancing earnings and benefits, and achieving both social and economic benefits, to further take its social responsibility.

On May 26, CBRC issued Implementation Program for Setup of Inclusive Finance Department in Large-/Medium-Sized Banks, to promote large-/medium-scale banks focusing on small-and micro-sized enterprises, issues of agriculture, farmer and rural area, entrepreneurship and innovating bodies and poverty alleviation. It was required by CBRC that, by the end of June, large-sized banks would develop a specific plan for setup of inclusive finance department, and complete the setup within 2017.

As noted that, a short time ago, Industrial Bank Co., Ltd. issued Implementation Plan for Setup of Inclusive Finance Department, to set up Inclusive Finance Department at headquarter level, making it the first joint-stock commercial bank announcing setup of inclusive finance department following the five major state-owned banks.

Just last week, another joint-stock commercial bank - CEB also released Notice on Setup of Inclusive Finance Department, announcing official setup of the department.

In recent years, CEB has actively enhanced function regulation in inclusive finance business by focusing on customer department, strengthened construction of trans-department mechanism, consolidate business department base, and achieved surveillance goals for small loans for years, with growth and rate leading the joint-stock banks. By the end of Q3 of 2017, CEB has achieved small loan balances of ¥405.605 billion, increasing by 64.636 billion at a rate of 18.96%, higher than its average loan growth rate.