An Analysis of Credit Insurance and Insurance Innovation in Rural Financial Services based on Multi-Factor Method

Finance is a key factor in the development of agricultural economy. The growth of the agricultural economy cannot be separated from financial support. As a big agricultural province, Heilongjiang Province has problems such as inadequate credit support, serious capital outflows, a small variety of credit products, a single service function, and lagging agricultural insurance development. Therefore, we must reform the rural financial system. The government should increase support, provide multi-level rural credit channels, accelerate rural financial product innovation, establish a rural credit guarantee system, strengthen the rural credit environment, and vigorously develop the rural insurance industry. The overall level of financial services, and gradually build a modern rural financial system to adapt to the growth of agricultural economy in Heilongjiang Province. In recent years, the development of innovative rural financial products and services has promoted the optimization and adjustment of the credit structure of local financial institutions, further improved the level of rural financial services, and played an important role in supporting the construction of a new socialist countryside. However, due to many factors in the economically underdeveloped regions, there are still some problems to be solved in the innovation of rural financial products and services.