Shanxi merchants
Shanxi merchants ( "Jinshang") constituted a historical phenomenon that lasted for centuries from the Song to the Qing Dynasty. Shanxi merchants ranged far and wide from Central Asia to the coast of eastern China; by the Qing Dynasty they were conducting trade across both sides of the Great Wall. During the late Qing Dynasty, a new development occurred: the creation of "piaohao" (), which were essentially banks that provided services like money transfers and transactions, deposits, and loans. After the establishment of the first "piaohao" in Pingyao, the bankers in Shanxi dominated China's financial market for centuries until the collapse of Qing Dynasty and the coming of British banks.