Crossing Over: Wenzhou's Journey from Traditional Credit to Modern Credit

Author: Chen Wenling et al.
Publisher:
Publish Date: 2005-10-01
Features:
"Rectify and regulate the market order, improve the social credit system of the modern market economy." — Report of the 16th National Congress of the Communist Party of China on establishing and improving the social credit system.
"Form a social credit system supported by ethics, based on property rights, and guaranteed by law. This is a necessary condition for building a modern market system and a fundamental strategy for regulating the order of the market economy." — Decision of the CPC Central Committee on Several Issues Concerning the Improvement of the Socialist Market Economy
"Enhance social credit awareness. Governments, enterprises, institutions, and individuals should take honesty and trustworthiness as the basic code of conduct." — Decision of the CPC Central Committee on Several Issues Concerning the Improvement of the Socialist Market Economy
This book, organized by the Research Office of the State Council and written by domestic experts, provides a new review of the long journey of the Wenzhou economy. Based on the transition from traditional to modern credit, it explores the deep implications of stabilizing economic and social development and systematically studies the Wenzhou economy's shift from traditional to modern credit. The book's theoretical depth, empirical analysis, and policy recommendations are among the best achievements I have seen in Wenzhou research. It holds significant reference and value not only for Wenzhou but also for Zhejiang.
The book conducts an in-depth and systematic analysis of the "Wenzhou model," which relies on the vibrant non-public economy to create development miracles. It delves into the essence of Wenzhou City's recent efforts to build a "Credit Wenzhou," "Brand Wenzhou," and "Quality Wenzhou." It also compares and analyzes the relationship between Wenzhou's economic and social development transformation and China's broader development transformation. Additionally, it comprehensively studies Wenzhou's leap from traditional to modern credit.
Drawing from Wenzhou's model of establishing a modern social credit system, the book proposes new ideas and frameworks for advancing China's progress in building a modern social credit system.