As the degree of population aging in China continues to deepen， the social provision system for the elderly is facing increasingly severe challenges. As a mutual?aid model for caring the elderly， the Time Bank can improve the efficiency of integrating service resources for caring the elderly， achieve a higher level of democratic participation， and efficiently enhance the social governance effectiveness. However， the Time Bank also has encountered such credit risks as insufficient credibility， unequal labor value， and delayed redemption of labor time， which can be alleviated by strengthening its institutional supply， improving its credit system， establishing a universal exchange mechanism for time coins， and enhancing the moral awareness of co?construction， co?governance， and shared ownership.