In the Ming Dynasty, due to the need of gold, silver, money and paper money exchange, many people specialized in currency exchange appeared, and on this basis, they opened money houses, which were the earliest money houses, also known as bank numbers or bank numbers. It is not only a place to exchange silver and copper coins, but also some large-scale banks issue certificates with the function of credit bills, that is, money bills, but their denominations are not large. Due to the reputation of the money shop,
In the late Ming and early Qing dynasties, the commodity economy developed greatly. In order to raise funds, big businessmen further expanded the business scope of banks and opened up diversified operations. At this time, banks, as private financial institutions, not only managed the exchange of silver and silver, absorbed deposits and loans, but also issued money tickets (called "Zhuangpiao"), which became an important credit institution, the predecessor of modern banks in China and the rise of national industry and commerce.
Generally speaking, there are differences between banks and their business contents and activity areas. The main business of money houses is to deposit money with merchants and conduct commercial exchanges between different regions, so it is closely related to commerce. This bank specializes in foreign exchange transactions: if there is a loan, it will only be lent to banks, not ordinary businessmen. The main activity areas of Qianzhuang are in the Yangtze River basin and the southeast provinces, with Shanghai as the activity center and the Yellow River basin and the provinces in North China as the main activity areas.