Between the Ming and Qing dynasties (1368-1911)to the 1920s, most of the richest Chinese were Shanxi m
erchants. Originally they had left home for other places to do business because of poverty.
Due to their shrewdness and abilities in handling financial matters, they became successful in business and, down through generations, exchange shops they started had moved into dozens of cities all over the country. Usually, one such shop owned a dozen to 100 branches and some of these even had branches in Japan, Europe and Southeastern Asia. So it is said that China's financial industry in modern timeswas started by these Shanxi merchants.
These exchange shops had controlled the financial market for more than 200 years during the Qing Dynasty and even Emperor Dowager Cixi once borrowed money from them. The mansions seen today are the residences of these Shanxi merchants who returned home after having made fortunes.
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