Mecca of The Local Banks in China - Pin Yiao
Pic-1: Overview of Ping Yiao Old Town
Pic-2: A Local Bank Tong Tai Mao in Ping Yiao
Ping Yiao County in Shansi Province was a Mecca for Chinese banks in the late Ching Dynasty. The leading local bank-Ze Shen Chang Firm, who pioneered the traditional remittance business in the early years of Tao Kuang reign (1821-1850) started up its business in this county. Within a few decades, this firm and its imitators in Ping Yiao and neighboring counties successfully established a broad remittance network and monetary business alliance covering all of China and even some major cities in Japan, Russia and south east Asia. During the "Era of the Shansi Bankers" they grew to dominated the major loan, savings and remittance services to Chinese merchants, officials and imperial government, and won for themselves awesome fortunes.
Thanks to Mr. Chang Huei Hsin for the pictures taken from his trip to Shansi during early June, 2001.
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