Developing inclusive finance is the direction of China's financial reforms, and will help boost the country's financial stability, a central bank official said Saturday.

Inclusive finance means households and enterprises could have access to a wide range of financial services including saving, borrowing and payment with reasonable costs, Jiao Jinpu, director of the Financial Consumer Protection Bureau with the People's Bank of China, said at a forum in Shanghai.

Jiao said technology innovation, such as the Internet finance, could lower financial costs and serves a major role in boosting inclusive finance.