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2023 | OriginalPaper | Chapter

3. Traditional Social Trust and the Rise of Informal Finance in City D

Author : Liu Weiping

Published in: Social Trust

Publisher: Springer Nature Singapore

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Abstract

This chapter mainly introduces the scale of informal finance in City D, the rise and development process of informal finance and the traditional interpersonal trust network it relies on.

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previous chapter Concepts, Methods, Research Findings, and Innovations
next chapter Social Trust Rupture and Informal Financial Crisis in City D
Footnotes
1
On June 23, 2015, the 1655th meeting of the Judicial Committee of the Supreme People’s Court passed “the Provisions of the Supreme People’s Court on Several Issues concerning the Application of Law to the Trial of Private Lending Cases”, clearly indicating that the fixed interest rate protected by law is 24% of the annual interest rate; A natural debt zone with an annual interest rate of 24 to 36 percent; Loan contracts with an annual interest rate of 36% or more are invalid. The regulation came into effect on September 1, 2015.
 
Metadata
Title
Traditional Social Trust and the Rise of Informal Finance in City D
Author
Liu Weiping
Copyright Year
2023
Publisher
Springer Nature Singapore
Book
Social Trust

Print ISBN: 978-981-9929-30-6

Electronic ISBN: 978-981-9929-31-3

Copyright Year: 2023

DOI
https://doi.org/10.1007/978-981-99-2931-3_3

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