Money and Credit in China

Money and Credit in China presents a focused examination of China's monetary systems and credit practices from ancient times through the mid-twentieth century. The book tracks the development of currency, banking, and financial instruments across multiple dynasties and historical periods. Yang provides documentation of early Chinese monetary innovations, including the world's first paper money and sophisticated credit arrangements. His research covers both official government policies and informal financial networks that emerged to facilitate trade and commerce. The text draws on primary sources and archaeological evidence to reconstruct the evolution of China's financial infrastructure. Particular attention is paid to the relationship between state authority and private banking enterprises. This work offers insights into how economic and political forces shaped China's unique approach to money and credit over two millennia. The historical patterns documented continue to influence modern Chinese financial practices and institutions.

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The Economic History of China by Richard von Glahn A comprehensive examination of Chinese monetary systems, market networks, and financial institutions from the Han Dynasty through the modern era.

Money in Early China by Walter Scheidel The text traces the development of currency, coinage, and monetary policy during China's formative economic periods.

Chinese Money in Global Context by Niv Horesh The work analyzes Chinese historical currencies and their influence on international monetary systems from antiquity to the present.

Cash and Commerce in Late Imperial China by Madeleine Zelin An investigation of financial markets, credit systems, and commercial practices during the Qing Dynasty.

Banking in Modern China by Zhaojin Ji The book documents the evolution of Chinese banking institutions and financial practices from traditional methods to modern systems.

🏮 Author Lien-sheng Yang was a pioneering Harvard professor who helped establish Chinese studies in America, serving as the first Chinese person to become a full professor at Harvard's Department of East Asian Languages. 💰 The book reveals that paper money was invented in China during the Tang Dynasty (618-907), centuries before it appeared in Europe, revolutionizing the history of global commerce. 🏦 Yang's research shows that Chinese merchants developed sophisticated credit instruments, including promissory notes and bills of exchange, as early as the 8th century CE. 📚 Published in 1952, this groundbreaking work remains one of the first comprehensive English-language studies of China's traditional monetary and credit systems. 🔄 The text details how Chinese copper cash coins had square holes in their centers, allowing them to be strung together - a practice that continued for over 2,000 years and influenced coinage throughout East Asia.