Abstract Based on the perspective of “interest & relationship network”, the theoretical framework of social capital of cooperatives is constructed and the formation mechanism of social capital of cooperatives and the function mechanism of social capital in different development stages of cooperatives are analyzed. The results show that consolidating the cooperative relationship network based on interests through trust mechanism can promote the accumulation and formation of social capital of cooperatives. The “interest & relationship network” has created a good environment for the promotion of trust among internal members. The evolution of social capital from “acquaintance trust” to “system trust” and then to “citizen trust” has promoted the orderly establishment, steady growth and rapid maturity of cooperatives.
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