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Rishengchang Exchange Shop

the outside view of Rishengchang Exchange ShopRishengchang Exchange Shop, meaing "sunrise prosperity" was founded in the third year of Daoguang in Qing Dynasty (1823), considered to be China's first bank and regarded as the originator and a milestone in Chinese financial development. What started out as a single businessman's efforts to safely manage the accounts of his widely spread company, became a private banking enterprise that caught on like wildfire - a similar phenomenon occurred in Europe at the end of the Middle Ages. It is specialized in silver (used as currency) remittance, deposit and loan business. Now converted into a museum, the head office was on this same site during the Qing dynasty. There are 21 buildings surrounding three courtyards. On either side of the front yard are the counters, main banking activities were carried out in the middle courtyard house, which functioned as an exchange center.

Rishengchang Exchange Shop covers an area of 1,700 square meters. The economical use of land and deliberate structure show us exquisite design. After being greatly rebuilt in 1995, "Rishengchang" has been renamed "the museum of Chinese `piaohao`", from there you can see the devoloping of the Chinese "Piao Hao".

The branches of "Rishengchang Exchange Shop" have scattered in Shandong, Henan, Liaoning, Jiangsu etc. three years after its foundation. In 1840, Shanxi "piaohao" was not only made up of Pingyao "piaohao" but Qixian and Taigu "piaohao"s. There were 11 remittance banks then in Shanxi. With the development of Shanxi business, there were 43 remittance banks in Shanxi at last. They had 500 branches in 85 cities across country and in Tokyo, Osakaļ¼ŒKobe of Japan, Singapore, Moscow of Russia and Calcutta of India. At that time, Chinese finance had almost been monopolized by Shanxi "piaohao". There were 22 "piaohao"s in Pingyao with 404 branches. The "Rishengchang" enjoyed great credit, and it was famous near and far.

 

Rishengchang Exchange Shop Tour

Known as the museum of "Piaohao", during Rishengchang Exchange Shop Tour, tourists will learn more about the ancient Chinese history. Thus you will find your Pingyao tour both interesting and meaningful.

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