Abstract: Financial social work in China boasts accelerated growth, arousing heated discussions and participation.Though analysis on relevant theories, papers and discussion on backgrounds, actions and challenges of financial social work, the study finds that Chinese society is faced with the lingering relative poverty, the wider wealth gap, the interactive influence from social digitalization and financialization, the new digital division and the new financial exclusion to the vulnerable groups, etc. Financial social work offers a powerful supplement for professionals to deal with the above social problems. Interventions can be carried out from two factors of financial literacy and opportunity, five areas of income, assets, consumption, credit and security, as well as from micro-, medium- and macro-levels.The study also discusses the four challenges facing the finance social work, namely, under-participation of financial service systems, inadequate digital technologies, cultural lag and a lack of professional awareness and skills.

Key words: financial social work, financialization, new type of digital division, financial exclusion, new type of financial exclusion