Rishengchang Draft Bank

Updated:2013-05-09 18:24
( chinadaily.com.cn)

Rishengchang Draft Bank

Courtyard of Rishengchang Draft Bank

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 (1821-1850) in the Qing Dynasty. 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.