Chinese College Launches Morality Bank

Students of a Chinese college can now open their accounts at a "morality bank" and earn virtual "coins" for doing good work. The initiative aims to encourage a spirit of volunteering among students.

The Chengnan College of Changsha University of Science and Technology in Hunan province, which launched the project, said the coins are tallied up in deposit books and students can exchange them for help or other benefits.

A student can earn one to three moral coins for an hour of volunteer service, while a blood donor can earn six coins, Peng Xia, founder of the bank, said.

Students are motivated to earn coins because for applying scholarships and subsidies they must have at least 10 moral coins, according to college rules.

The bank also offers loans.