Introduction to Rishengchang Bank (日升昌票号)
Rishengchang was established in the early Qing Dynasty. It was forerunner for organizing Chinese early finance system, handling remittance, money exchange, deposit, loan and other financial business in ancient time of China. There were 35 branches in the big and medium-sized cities of China. Its business covered Europe, America and Southeast Asia during that time.
Rishengchang Draft Bank, China’s first bank-like organization, is located on the prosperous West Street in Pingyao ancient city, known as the top commercial street in the Qing Dynasty (1644-1911).
The bank was founded during the reign of the Daoguang Emperor in the Qing Dynasty (1821-1850). It was the first and largest draft bank operating remittance business in China.
The shop kept running for over 100 years, and its branches had spread across 35 cities in China. The business had been expanded to Europe, the United States, and many Southeast Asian countries. The shop is a pioneer of China’s banking history, and it almost controlled China’s entire economy in the 1900s.
Now the bank has been renovated into a museum with more than 20 exhibition halls, divided into two parts to display historical materials and its original appearance. People can learn about China’s banking history here in the museum.
As an outstanding representative of Shanxi merchant culture, its construction style is very classical. A three-courtyard compound, it combines the traditional features of local residential buildings and stores. The shop covers an area of about 1,386 square meters, with 1,200 square meters devoted to 21 different houses.
No.38, West street, Jinzhong City, Shanxi Province
Admission Fee: included in the Pingyao Ancient Town pass, at RMB 130
It’s inside the Pingyao Ancient Town.
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