Religion as Financial Asset: State Investments in Chinese Buddhism

This study uncovers reasons why Buddhist sites in China since the time of Mao have received government patronage, and it argues that economic development at Buddhist sacred sites has resulted in religious revivalism—a perhaps unintended consequence of state support. The focus of the work is at Mount Putuo—the home of the Bodhisattva Guanyin—and data collected come from fieldwork during the summers of 2012 and 2013. The first portion of the study examines the various ways individuals have sponsored Buddhist sites through Chinese history and identifies the upholding of miracle tales, the financing of temples and the creation of religious commodities as particularly significant. The second portion of the study examines and evaluates contemporary financing, especially the processes of commodification that shape sacred sites like Mount Putuo. At the conclusion of this article, the author argues that Buddhist practice today has not been hindered by economic development but instead revived.