Rural areas need financial education

Fraud concerns, lack of knowledge underpin rejection of mobile services

Financial education and fostering the financial capabilities of the public are important tasks to promote financial inclusion in China, according to academics and financial service professionals.

Financial fraud and misleading financial advertising are more prominent in China than in developed countries, and many Chinese citizens have relatively weak financial knowledge, said Bei Duoguang, president of the Chinese Academy of Financial Inclusion at Renmin University of China.