Micro, small and medium-sized enterprises (MSMEs) in China often struggle to secure loan financing. In response, the government has required banks to increase credit for MSMEs and incorporate digital technologies into traditional credit evaluation models. In 2018, the state introduced “credit easy loan” digital lending platforms under its social credit system to facilitate collateral-free loans for MSMEs in a bid to enhance financial inclusion and social trust. Meanwhile, the actual implementation of these initiatives remains understudied. Drawing on six months of ethnographic fieldwork, this paper examines how “packaging agencies” act as intermediaries in preparing and “beautifying” bank loan applications. These agencies may manipulate credit data and leverage close relationships (guanxi) to help clients obtain loans, while banks may tacitly approve their practices to fulfil their financial inclusion requirements. Through such processes and in a supposedly digitalized system, a single MSME loan multiplied into ten loans, large companies became small businesses, and one housewife became a creditworthy microentrepreneur.

中国的微型、小型和中型企业往往难以获得贷款融资。为此，政府要求银行增加对中小微企业的信贷支持，并将数字技术纳入传统的信贷评估模型。2018 年，国家推出了基于社会信用体系的“信易贷” 数字贷款平台，为中小微企业提供无抵押贷款，旨在促进金融普惠和社会信任。然而，这些举措的实际实施情况尚未被深入研究。本文基于六个月的民族志田野调查，探讨 “包装机构” 如何作为中介，帮助客户 “美化” 银行贷款申请。这些中介可能会操控信用信息，并利用密切的人情关系帮助客户获得贷款，而银行可能默许这些行为，以表现出对普惠金融的支持。在这样的过程中，一笔中小微企业贷款被放大到十笔，大企业变成了小企业，而家庭主妇变成了所谓数字化系统中信用良好的微型企业家。