A City of Commerce and its Native Banks: Reviewing the History of Hankou Qianzhuang before 1952

Abstract

Hankou was once the host city of a large group of native banks or Qianzhuang in China. This case study examines the local archives to explore their urban origins, business customs and internal dynamics of Qianzhuang in Hankou from the mid-1800s. Despite all their struggles, Hankou Qianzhuang disappeared almost inconspicuously in 1952. The archival evidences from the local sources indicate that their formal dissolution had resulted more from political changes than from their inability to serve modern businesses or resistance against ruling orders. These new findings may contribute to China’s monetary history literature, particularly on the role of native-place ties and traditional features in structuring the conduct of business in China.