WSIS Prizes Contest 2021 Nominee

National Implementation of the Financial Inclusion Initiative in China


Description

National Implementation of the Financial Inclusion Global Initiative is a three-year action plan (2018-2020) funded by the Bill & Melinda Gates Foundation and implemented in partnership with ITU, the World Bank Group, and the Committee on Payments and Market Infrastructure . Since 2018, ITU has been collaborating with the China Academy of Information and Communications Technology(CAICT)to provide tailored technical support (including diagnostic assessments, and pilots of innovative approaches) relevant to digital financial inclusion, with a focus on improving the legal and regulatory framework, financial markets infrastructure, and ICT infrastructure, aiming at digital financial inclusive services. As part of the national implementation in China, pilot projects are being implemented to promote the development of digital finance, especially digital inclusive finance. The project is to pilot test new innovations in DFS within selected counties in Yu county in Heibei China. The project promotes the development of digital Inclusive Financing in Yu County and enhances the availability and inclusiveness of digital finance through digital Inclusive Financing training, digital agriculture platform and agricultural e-commerce platform .

Project website

http://www.caict.ac.cn/


Images

Action lines related to this project
  • AL C2. Information and communication infrastructure 2021
Sustainable development goals related to this project
  • Goal 1: No poverty
  • Goal 5: Gender equality
  • Goal 9: Industry, innovation and infrastructure
  • Goal 10: Reduced inequalities

Coverage
  • Yu county,Hebei, CHINA, China

Status

Ongoing

Start date

July 2018

End date

Not set


Target beneficiary group(s)
  • The poor

Replicability

This project is carried out in many aspects, such as improving the digital financial ability, building the basic digital platform, expanding the electronic payment channels, etc. The project has a low threshold and strong reproducibility.


Sustainability

Based on the outcome of the project, including assessments, research and enhanced awareness, and learnings from the pilot projects, partnerships and other mechanisms for sustainability of the project objectives will be sought through WB, donor agency funding, national projects and programmes. The project is supported by local governments and enterprises, and the pilot will be carried out in other parts of China, which is sustainable.


WSIS values promotion

The project enhanced the existing collaborative approaches that exist today, while enabling future partnerships to significantly enhance the use of DFS for DFI in China, leveraging the access to affordable ICTs. The project will furthermore establish common ground on the salient issue of DFI and create a framework to reduce the pockets of financial exclusion. By fostering a 'partnership ecosystem' that adds values to all parties, the project will contribute to policy objectives of eradicating poverty, promoting new increase the access to affordable ICTs to innovative Internet+ services in a sustainable approach to gain maximum benefit from the opportunities offered by DFS and DFI. By raising awareness, digital financial services will stimulate innovation and creativity for digital opportunities that will materialize for the benefit of all, and serve as an example for other areas and localities.


Entity name

China Academy of Information and Communications Technology (CAICT)

Entity country—type

China Academia

Entity website

http://www.caict.ac.cn/