Financial Service Innovation in Rural China: Challenges and Solutions

The development of China's financial market has accelerated, and the principles of prioritizing rural development and implementing the rural revitalization strategy have been upheld in the 19th and 20th National Congresses. The reform of the agricultural supply side and the development of the 'three rural issues' have been deeply promoted, accelerating the reform and optimization of rural finance services. Financial institutions provide funding support for the development of rural finance, which is of great significance for building a new socialist countryside. However, rural finance in China is still weak. With the continuous development of the economy and society, there is a growing demand for financial services. The problems of rural financial services in China have also been exposed, such as the imbalance in the allocation of urban and rural financial resources, and the relative lack of supply despite the increase in rural financial demand. How to take measures to solve this problem and promote the innovative development of China's financial services and improve the financial services system has become an urgent issue. This article adopts research methods such as article analysis, and through a combination of the current situation of rural financial services in China and relevant theoretical knowledge at home and abroad, it explains the problem of financial service innovation in China and puts forward targeted solutions and countermeasures, thus promoting the development of rural economy and the improvement of farmers' living standards.