Daming Treasure Banknote is the only official banknote issued in the Ming Dynasty, which has a history of more than 270 years. Ming Taizu Hongwu was built in the eighth year (1375). Because of the shortage of copper at that time, Ming Hongwu promulgated the Banknote Law in seven years, and established the Banknote Lifting Department, which consisted of two bureaus for copying paper and printing money, and two warehouses for banknotes and banks. The following year, it was issued in the name of Nanjing, Zhongshu Province. The printing frame of Daming Treasure banknote is about 30cm high and 20cm wide, which is the largest banknote in the world. There are six grades of paper money: one, 500, 300, 200 and 100.

However, due to the poor paper quality at that time, Daming paper money was difficult to last. Ming paper money was only issued but not collected, and old paper money was not recycled, which led to more and more paper money circulating in the market, which led to inflation and rapid depreciation in the year of issuance, and people abandoned it one after another and ended in failure.