Rishengchang Draft Bank
Founded in the third year of Daoguang in Qing Dynasty (1823), the "rishengchang" Remittance Bank specialized in silver (used as currency) remittance, deposit and loan business. It is regarded as the originator and a milestone in Chinese financial development.
Three years after the "Rishengchang" was founded, its branches have scattered in Shandong, Henan, Liaoning, Jiangsu etc. 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, Osakaļ¼Kobe 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.
Located in the west street, Rishengchang 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`", here we can see the complete managing business of Rishengchang, lots of valuable materials and material objects. In addition, there are lots of history material showing us something about Pingyao piaohao, Shanxi piaohao and Chinese piaohao. In a word, we can feel the up and down of Chinese piaohao in "Rishengchang"
The Rishengchang Exchange Shop, one of the earliest exchange shops in China, is located on West Street in Ping Yao City, Shanxi Province. The rectangular compound faces north and is 65 meters (71 yards) long and 20 meters (22 yards) wide. In total it occupies over 1,300 square meters (approximately a third of an acre). It was established in 1823 during the Qing Dynasty (1644--1911). At that time it had over 35 branches in China's major cities. In December 1995, Shanxi Provincial Government listed it as a Provincial Key Cultural Relic under the Reservation and it is now the Chinese Exchange Shop Museum.
During the hundred years that draft banking lasted in China, Pingyao became the central hub of these activities even as other local merchants opened similar banks. Branch banks were soon set up in major cities in China and in Asia, leading to great Pingyao's subsequent economic, cultural and societal development. Courtyards became more ornate, streets, shops and stores were developed, enlarged or improved, and its products, such as lacquer ware and clay sculptures became more well-known.
What you can see today is the original Rishengchang Exchange Shop which was fully restored in 1995. The shop is within a compound with three courtyards. In the front of the compound, five rooms facing the street served as the gate of the shop. The board with the name of the shop hangs in central position above the five rooms. Passing through these rooms, you will come to the first courtyard in which four cashier's offices are situated on either side of the passage that runs along the axis of the compound. In the second courtyard, the three south facing halls were used for the exchange business. In the second courtyard there are also rooms which housed the staff who worked in the exchange shop, while the second storey served as store rooms. The third courtyard served as accommodation for the senior staff and due to its location away from the noise of the road also provided a resting place for important customers. For security, a net made from metal thread was fixed over the top of the whole compound. Small bells were hung on the net to sound a warning if intruders tried to enter the premises.
A visit to the Rishengchang Exchange Shop will give the visitor an insight into the enterprise and ingenuity of the merchants of ancient China. In particular it will illustrate how the Shanxi Merchants made a vital contribution to the development of Chinese trade.
How to get there:
You can take a coach from the south side of Taiyuan Train Station. The two hour journey to Ping Yao costs CNY 10. While in Ping Yao, you can choose either to take a kind of rickshaw provided for visitors or you can make you way around on foot.
| Admission Fee: |
CNY 120
(Ancient Pingyao City, this scenic spot is included) |
Related Links: 
|
