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Who Deserves Credit? Banks for the Virtuous in Rural China.

Authors :
von Blomberg, Marianne
Reijers, Wessel
Source :
Journal of Contemporary China; Nov2024, Vol. 33 Issue 150, p955-970, 16p
Publication Year :
2024

Abstract

While cities piloting China's Social Credit System attract attention, rural areas in China are experimenting with reputation-based credit systems called 'banks of virtue'. These local institutions unlock cheap loans and other benefits for citizens who prove virtuous character. Based on empirical data, this article investigates how banks of virtue combine techniques of metrics known from capitalist credit systems with an inherently localized and personal evaluation procedure. As hybrid forms of organizing access to credit, this article argues, banks of virtue offer an alternative, rural answer to the 'right to credit' that emerged in debates concerning capitalist economies. While they combine multiple goals of the national rural revitalization and Social Credit System strategies, such as the creation of a 'civilized' rural society and the allocation of credit to small businesses and households, their reliance on citizen participation casts doubts over their capacity to achieve these goals. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
10670564
Volume :
33
Issue :
150
Database :
Complementary Index
Journal :
Journal of Contemporary China
Publication Type :
Academic Journal
Accession number :
180330189
Full Text :
https://doi.org/10.1080/10670564.2023.2248034